IBAS GBF has already been successfully deployed in the cloud on Amazon Web Services for a customer in the trade finance space, and users are already benefitting from it. In addition, CBA’s IBAS platform supports RESTful APIs, allowing banks to interface to other systems and share information in real-time, not only between front and back office systems, but also directly with the banks’ customers on relevant portal platforms, according to the official press release.
Having a flexible architecture in place is also essential in helping banks adapt more easily to upcoming changes in standards, such as the migration to ISO 20022 for cross-border payments and Target2. The microservices-based architecture of the IBAS platform employs reusable components to define products and workflows. This means that when an individual component is updated, all instances of the same component can be automatically updated throughout the IBAS system without any need to re-write source code.
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