Banks spend significant portions of their budgets and resources on creating, maintaining, and decommissioning point-to-point integrations across various technologies, products, and solutions within their tech stacks. Effective integration with core banking systems, CRM systems, and external fintechs traditionally requires a budget-intensive custom system integration work. This expenditure, which adds unnecessary complexities, slows down digital transformation projects and diverts resources from creating value for banking consumers.

Grand Central, however, is set to revolutionize this landscape by offering an industrialized Integration Platform-as-a-Service that delivers unified APIs to power banks’ channel applications and third-party developers. Using BIAN based domain model and unified banking APIs, Grand Central seamlessly connects any channel application to various downstream systems, including core banking platforms, customer relationship management systems, payment and fintech systems, and more.

Through the use of industrialized plug-and-play connectors, banks can rapidly accelerate their time-to-market while significantly reducing the budgets typically associated with integrations. With Grand Central, banks will gain the ability to harmonize data across their diverse tech stack, ultimately resulting in seamless digital customer experiences across web and mobile applications running on the Backbase Engagement Banking Platform.