IT Architecture – PSD2 and Open Banking

Banks generally do not have just one back office system; in fact there are likely to be multiple systems that have built up independently over the years or as banks have merged over time. In simple terms there may be a system dealing with current and savings accounts, a different system dealing with credit cards, other systems dealing with loans, investments etc. In more complex environments, there may be multiple systems dealing with current and savings accounts perhaps following mergers or acquisitions. In the past, this will have presented itself to customers through having to call different numbers for different accounts. While banks have consolidated their call centres over time, the back office is likely to remain fragmented.

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