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A large bank needed to build a digital payments platform to create a competitive advantage, comply with PCI, and secure APIs. To do this, they needed the right API platform. They found it with Akana.
A large bank did an internal assessment to identify initiatives that would increase revenue. One of those was a next generation digital payments platform.
The bank built a platform to publish APIs to gain competitive advantages.
The bank needed to open new channels to stay ahead of competitors. So, the bank identified the clear need for opening new transaction processing channels for Apple Pay, Samsung Pay, and Starbucks. All with a very short turn around.
The bank proactively built a platform that not only addressed current pressures. It also created industry advantages. The team succeeded by innovating, rationalizing, and modernizing the bank’s existing infrastructure.
The large bank needed to be blockchain ready. At the time of the assessments, at least 40 competitive banks were exploring a digital currency blockchain. The bank’s challenge was to prepare and ramp up initiatives for blockchain and vital real-time transaction processing.
At the same time, banking centers shifted. Transactions at traditional banking centers were fading away. The large bank needed a customized, automated response model to address customer needs.
The large bank needed to comply with ACH requirements. These were new government mandates for processing payments in virtual real time.
The large bank also needed tokenization for PCI compliance. The bank faced the substantial task. They needed to rationalize and eliminate over 50 applications deployed over multiple platforms. The goal was to establish a foolproof tokenization security strategy. This strategy protects against credit card number theft vulnerabilities.
To create these industry advantages, the large bank needed help. They found it with the Akana API management platform.
They needed to go beyond API basics. Akana made it easy for the large bank to build out the digital payments platform.
The bank leveraged the following capabilities of the Akana platform to support their objectives.
The industry is moving to API-driven architecture. So, the large bank quickly realized they needed to establish a standardized way to design, create, and document the APIs.
They needed a way to manage the portfolio and API lifecycle. This meant ensuring they were:
They also need to ensure that the governance processes they put in place didn’t slow down their agile development processes.
The bank leverages the Akana platform's API lifecycle management capabilities to establish and enforce standards. Akana also helps them automate their development processes. For example, Akana hooks into their agile tools such as Jenkins.
What Does It Take to Have a Successful Lifecycle?Learn everything you need to know about the lifecycle of APIs. Explore our content hub.👉 API Lifecycle Hub
Learn everything you need to know about the lifecycle of APIs. Explore our content hub.
👉 API Lifecycle Hub
Most of the APIs the bank publishes need to be delivered securely. This includes the infrastructure hosting the API and the API interface itself.
Akana protects the bank’s applications from external threats while providing state of the art API security. The Akana API gateway offers comprehensive protection against OWASP top 10 API threats including:
It also provides antivirus scanning and strong cryptographic protection.
A couple of examples of the security features the bank implements are:
The large bank needed to establish a PCI compliant infrastructure. The Akana platform received several PCI compliant certifications:
The bank needs to easily manage several IBM WebSphere® DataPower appliances. The bank leverages the Akana platform with IBM WebSphere® DataPower to automate the administration of APIs and services across several IBM DataPower appliances.
By using Akana, they simplified the administration, reduced the operational costs, and reduced the risk of failures during API rollout. Without the Akana platform, the deployment of and changes to an API had to be configured manually on each IBM DataPower appliance. And that would introduce errors.
The bank additionally leverages the following Akana API gateway features:
Visibility of services and APIs across many IBM DataPower appliances proved to be very challenging for the bank. The Akana platform allow the bank to gain complete visibility of their APIs and services across their IBM DataPower appliances. Akana gives them API analytics on operational, consumer, and business metrics that they never had before.
Automating new channel onboarding to the digital payments platform is key to the banks future success. A critical part of any API platform is the ability to provide developers with a self-service platform. This is where developers can use to find and easily consume APIs.
Akana provides a API portal for:
The Akana platform is the only platform with complete portfolio and lifecycle management capabilities. This is critical as the bank adopts API-first architecture.
Akana makes it easy to:
The Akana API gateway is unique in supporting the IBM DataPower appliance. And it matches policy driven capabilities.
The bank chose the Akana platform for its scalable software API gateway, which can be used on premises or in the cloud. The bank chose the successful Akana platform because of its ability to easily manage and control APIs within regulatory guidelines — on IBM DataPower appliances.
The bank needed a partner with extensive knowledge in establishing a PCI certified environment. So, they chose the Akana platform because of its hardened PCI DSS v3.1 and status as a Level 2 certified service provider.
The bank successfully created a secure PCI environment by implementing a tokenization strategy. They eliminated 50 applications on all PCI-compliant scope platforms. The token service is managed by the Akana platform.
The bank also automated the onboarding of new transaction processing channels. Most recently, the large bank enabled Apple Pay. And, they were able to add it in a matter of hours instead of months.
The bank is rolling out lifecycle governance for its services and API strategies. Once the process is established, lifecycle management capabilities will be configured in the Akana platform. DevOps automation and auditing of the APIs and Services will be provided throughout the full lifecycle.
See how Akana can help you create new channels and ensure security and compliance.
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