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SEOUL, South Korea, March 16, 2021 /PRNewswire/ -- Solace has partnered with Standard Chartered Bank Korea (SCB Korea) to maximize the agility and efficiency of Standard Chartered's Straight2Bank (S2B), an online banking platform that allows businesses to make payments and track their transactions on the go.
Adopting a Solace-enabled event mesh1 and event-driven architecture2 provides SCB Korea with a stable and scalable foundation to deploy and scale new banking services for its customers while meeting demands for real-time responsiveness. The bank can now provide an elevated customer experience on S2B and help businesses manage large volumes of domestic and international online transactions.
Solace has been working with Standard Chartered Bank since 2010 to provide low-latency data distribution for its foreign exchange trading platform across key financial hubs in Singapore, London, Tokyo, and New York. Through its event mesh, Solace helps to route pricing, trades, and orders between each colocation, enabling SCB to offer the best market price to its customers.
As a result of these successes, the same high-performance messaging infrastructure used to support one of the world's largest FX traders is now also used to future-proof SCB Korea's technology infrastructure. This is particularly important for a market like South Korea, which has the region's highest Internet penetration rate and connection speed. As the adoption of digital banking continues to accelerate in the country, SCB Korea needed a robust framework that would support the development of new digital channels and services to cater to their customers.
Using a Solace-enabled event mesh will facilitate real-time data flow between SCB Korea's new digital channels and core services via secure Application Programming Interfaces (APIs), enabling SCB Korea to integrate legacy applications and microservices3 dynamically and in real-time.
Jason Ki, Senior Vice President, Technology & Innovations, SCB Korea, said, "It is a key priority for us to be able to provide our customers with the best experience regardless of which channels they choose. Emerging technologies like 5G will further disrupt the evolving financial services landscape in the coming years. It is critical that we leverage best-of-breed technology to secure the necessary foundations in place to stay relevant. We're excited to be working with Solace to design a modern and agile corporate banking platform that can bring the next level of banking services to our customers amidst a digital banking revolution here in South Korea."
He added, "Solace's advanced technology provides the ideal platform for the bank to build scalable and future-proof services. We are working with Solace to ensure IT provides modern and agile support to the business while ensuring positive ROI and maximum reliability."
"We are always seeking new ways to bring added value to our customers, even for long term partners like Standard Chartered Bank," said Kent Nash, general manager, Middle East, Asia Pacific & Japan, Solace. "We are humbled by their unwavering trust in us for the past decade. At Solace, we will continue to support them in their endeavors to provide the highest level of service to their customers with real-time responsiveness."
About Standard Chartered Bank Korea
Standard Chartered Bank Korea aims to become the "best international bank in Korea." To this end, we are providing differentiated services and innovative financial products based on leading digital platforms. Our parent 'Standard Chartered' is actively utilizing its international network and long experience accumulated in various parts of the world to faithfully play a role as a bridge to support domestic companies' overseas expansion. In addition, we are carrying out various social contribution activities with a sense of social responsibility to grow together with the local community. For more information about Standard Chartered Bank Korea, please refer to sc.co.kr.
About Solace
Solace helps large enterprises become modern and real-time by giving them everything they need to make their business operations and customer interactions event-driven. With PubSub+, the market's first and only event management platform, the company provides a comprehensive way to create, document, discover and stream events from where they are produced to where they need to be consumed – securely, reliably, quickly, and guaranteed. Behind Solace technology is the world's leading group of data movement experts, with nearly 20 years of experience helping global enterprises solve some of the most demanding challenges in a variety of industries – from capital markets, retail, and gaming to space, aviation, and automotive. Established enterprises such as SAP, Barclays and the Royal Bank of Canada, multinational automobile manufacturers such as Renault and Groupe PSA, and industry disruptors such as Jio use Solace's event broker technologies to modernize legacy applications, deploy modern microservices, and build an event mesh to support their hybrid cloud, multi-cloud and IoT architectures. Learn more at solace.com.
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1 An event mesh is an architecture layer composed of a network of event brokers that allows events from one application to be dynamically routed and received by any other application no matter where these applications are deployed.
2 Event-driven architecture is a way of building enterprise IT systems that lets loosely coupled applications and microservices produce and consume events.
3 Microservices provide a blueprint that makes it easier for developers to repeatedly create robust and scalable applications compared to traditional monolithic architectures by modularizing complex applications.
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