Japan’s SBI Holdings Makes a $20m Strategic Investment in OpenLegacy

Japan’s SBI Holdings Makes a $20m Strategic Investment in OpenLegacy

SBI’s investment accelerates its Internet banking and Moneytap initiatives while opening the door for OpenLegacy to the world’s second-largest mainframe market after the United States

Princeton, New Jersey, February 3, 2020 – Tokyo-based SBI Holdings, the leading Japanese financial services company, has made a $20 million strategic investment in OpenLegacy, the market leader in microservice-based APIs for legacy and core systems.

SBI has made the investment based on OpenLegacy’s long-term technology promise as well as to accelerate its own digital transformation activities, using OpenLegacy’s technology to spearhead two key strategic efforts: building Internet banking across SBI’s growing portfolio of Japanese banks, and instituting Moneytap, a blockchain-based payment application in Japan and globally.

“OpenLegacy will enable our portfolio companies to quickly launch digital innovations, integrating, leveraging, and extending our legacy systems in a fraction of the time, all without changing the underlying systems,” said Yoshitaka Kitao, SBI Holdings President & CEO.

OpenLegacy’s platform is already being leveraged by Fortune 500 companies like Citi, Liberty Mutual, FIS, and BNP Paribas-Cardif, to name a few.

The solution reduces the time, cost and risk normally associated with digital transformation by connecting directly to legacy systems, automatically generating microservice-based APIs, and deploying on-premises or in the cloud. OpenLegacy reduces total cost of ownership by bypassing layers of middleware, and delivers digital services without changing the back-end legacy system.

OpenLegacy further enables seamless integration into existing or new DevOps pipelines because of its compatibility with modern code development practices. Furthermore, by working with the development team to generate custom-built templates, site-specific standards can create consistently robust services at an unprecedented speed.

“SBI’s use cases demonstrate the range of achievements that OpenLegacy’s technology makes possible,” said Ron Rabinowitz, OpenLegacy’s President. “The investment opens the door to Japan, the world’s second largest mainframe market. It is an important milestone in our global expansion; we’re now serving the world’s top clients across the United States, Europe, LATAM and Asia.”
About SBI
The Tokyo-Japan-based SBI Holdings focuses on three core businesses in the Financial Service area: securities, banking, and insurance. It provides financial products and related services mainly based on securities, banking, insurance, and housing loans. It also engages in the “Asset Management Business,” which invests in Japanese and overseas venture companies in the fields of IT, biotechnology, environment/energy and finance, and in the “Biotechnology-related Business,” which develops cosmetics, health foods, and drug discovery.
About OpenLegacy
OpenLegacy accelerates the delivery of innovative digital services from legacy systems in days versus months. Our microservices-based API integration and management platform reduces manual effort by automating API creation, bypassing middleware complexity, while improving API performance and thereby staff efficiency. Its software directly accesses and extends business logic to web, mobile, or cloud innovations in the form of Java objects, Rest APIs, or SOAP. Most importantly, this process is not only fast, easy, and secure, but also unintrusive to existing system architectures. Business and IT teams can therefore quickly deploy to market the digital demands of their customers, partners, and employees without ever having to modernize or replace their core systems. Learn why leading companies choose OpenLegacy at https://www.openlegacy.com/.

Media Contact
Amy Kenigsberg
K2 Global Communications
https://k2-gc.com/
amy@k2-gc.com
tel: +972-9-794-1681 (+2 GMT)
mobile: +972-524-761-341
U.S.: +1-913-440-4072 (+7 ET)

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email

RELATED POSTS

5 Companies That Have Already Announced Job Cuts This Year

Layoffs in 2023: 5 Companies That Have Already Announced Job Cuts This Year

The layoff spree at tech giants is bleeding into a new year. It has been just three weeks since we entered 2023, yet the media is buzzing with disturbing numbers about people being laid off by tech companies: At least 104 tech companies let go more than 26,000 employees. This means, more than 1,600 tech employees were dismissed per day in the past couple of weeks. Let’s take a look at the top tech companies that are laying off aggressively.

Goblin Mode

Decoding the World’s Obsession with “Goblin Mode”

Do you find yourself struggling to maintain a positive and productive attitude at work? Are you becoming increasingly irritable or disengaged from constantly feeling overwhelmed and stressed? If so, you’re not alone. Many people experience this state of mind, and some turn on their ‌ “goblin mode” to cope with it. The term “goblin mode” gained popularity in February 2022

Instagram vs YouTube—Which Is Better for Your Business?

Instagram vs YouTubeWhich Is Better for Your Business?

With the rise of social media platforms, like Instagram, TikTok and YouTube, businesses have gained new opportunities to reach their potential customers. It’s important to note that Instagram and YouTube are not just for entertainment; they can be used as powerful tools for marketing and creating brand awareness. Many individuals already use YouTube, TikTok and more to earn money.

What Is Ambient Computing? How Does It Affect Our Lives?

What Is Ambient Computing? How Does It Affect Our Lives?

Picture this: it’s five degrees Celsius outside, and you are freezing, but instead of you adjusting your thermostat, your house automatically realizes that it needs to be warmed up and changes the temperature accordingly. That is what ambient computing is all about. Ambient computing (also called ambient intelligence) refers to technology immersed into your environment. You don’t have to consciously interact with it using screens or keyboards.

How Can AI Be Used in Governance?

How Can AI Be Used in Governance?

One of the many things that artificial intelligence (AI) is capable of doing is helping governments function smoothly. In a previous article, we discussed that, over time, AI would be responsible for more decision-making. As such, it can help governments worldwide make tough decisions by ridding the decision-making process of human biases.

Top 3 Cheapest Tesla Alternatives to Consider Buying

Top 3 Cheapest Tesla Alternatives to Consider Buying

Those who care about the environment have progressively shifted to electric cars. In December 2022, electric car sales reached 11% of the car market worldwide. These cars not only have significantly fewer carbon emissions but are also cheaper to maintain. Some countries, such as New Zealand, the U.K.