Eurobits Wins the Open Banking Race with the Help from IBM

Challenge

To capitalize on international growth opportunities, Eurobits wanted a more flexible and scalable platform for its open banking services, with the ability to keep client data in defined jurisdictions.

Eurobits needed to build new infrastructure with sufficient flexibility to support growth in clients, transactions, and geographic coverage. The company was hosting its core systems on co-located hardware in a third-party data center. Although this environment was fully virtualized, the underlying physical infrastructure still acted as a brake on the company’s development. Every time Eurobits outgrew a server, it had to wait for its service provider to complete upgrades or to provision additional hardware.

Initiative

Eurobits migrated to VMware vSphere on IBM Cloud in two data centers. The company uses IBM API Connect® to industrialize API management, and IBM Cloud Kubernetes Service to containerize applications.

Results

Using IBM cloud helped Eurobird to have a faster and more flexible scaling of services by removing barriers to growth. The security-rich

single-tenant cloud servers give confidence to financial-services clients. As a pioneer in banking account information services, Eurobits helps banks work together so that their customers can easily pay from and manage their bank accounts at multiple banking providers. To support both of these activities, Eurobits provides secure APIs that enable trusted parties to securely share customer account details and allows customers to transfer funds without logging into their own bank.

The previous Eurobits model for deploying APIs to banks lacked scale and sophistication. While it had worked well for the relatively small set of clients and transactions in the past, Eurobits knew that it needed a more flexible model to cope with the rapid growth in demand for its services.