Application modernization startup OpenLegacy Inc. has raised $20 million to help it pursue its mission of helping financial services companies move their information technology infrastructures into the cloud-native era. Japan’s SBI Holdings Inc. was the sole investor in the latest round, announced late last week. It brings OpenLegacy’s total funding to date to $70 million.
Japan’s SBI Holdings has made a $20m investment in Openlegacy Technologies, which supports API integration of core banking platforms. SBI will now recommend using the OpenLegacy API platform that enables regional banks to undergo digital transformation.
Japan's SBI Holdings has invested $20 million in OpenLegacy Technologies, an American software firm that smooths API integration of core banking systems. Citi, FIS and BNP Paribas-Cardif are among the clients for OpenLegacy's platform, which helps them to create microservices-based APIs to extend their core banking systems to the digital world, including the web, mobile and cloud.
Service Oriented Architecture (SOA) was the great hope of organizations decades ago when they sought to advance legacy system integration, reduce and bypass layers, and rapidly access the system of record. At the time, the existing solution was point-to-point integration, creating a brittle “spaghetti” middle layer that was hard to manage. This was replaced by SOA, which was later augmented with ESB. This fixed the spaghetti mess by creating an intermediate set of layers, which added complexity to the integration process.
Contrary to popular belief, the world is not full of start-ups. There’s a reason the world’s top X companies lists exist – these well-established powerhouses have been around for decades.
Mainframes, legacy systems, and COBOL are getting a bad rap that they just don’t deserve. COBOL is still a common, business-oriented language, contrary to the reports of its demise at the hands of JAVA, Python, and Ruby. COBOL is easy to learn and easy to read and it delivers high performance when compiled.
OpenLegacy, a microservices-based API integration and management delivery firm, is firmly expanding its reach into Asia Pacific and Japan, thanks to a $50 million investment windfall, including significant funding from Silverhorn Investment.
OpenLegacy, which delivers microservices-based API integration and management for core and legacy systems, is partnering with Compuware, which provides modern and agile mainframe software tools for DevOps, to accelerate mainframe integration with modern apps using APIs and microservices.
Using data storage and access methods — like VSAM, IDMS, IMS, DB2, Oracle, and ADABAS — to store and rapidly access data through mission and business-critical applications are written in COBOL, Assembler, Fortran, ADS, RPG, and Natural, these business giants now find themselves unable to stay on the cutting edge in terms of speeding delivery of innovative digital channels and applications.
OpenLegacy, the leader in delivering microservices-based API integration and management for core and legacy systems, has expanded into Asia Pacific/Japan and hired General Manager Joseph Wong, who has spent decades building Asian success for international technology companies.
Compuware released the latest update of its Topaz for Total Test automated testing solution last week with a number of enhancements, including direct access to the OpenLegacy platform, advanced analytics from its free zAdvisor service, and other improvements that enable unit testing to be applied to a larger range of programs.
When considering any IT infrastructure changes, the most critical consideration is “Do the benefits and value of a new technology solution override its costs?” In the case of adopting microservices, the answer is definitely yes, especially as they accelerate time to market of new applications for demanding customers while leveraging the stability of legacy systems.
OpenLegacy has allied with Compuware to make it easier to build and debug microservices-based applications employing REST application programming interfaces (APIs) to access data residing on mainframes.
What’s the best approach for application modernization: Maintain the monolithic architecture, or break it into individual microservices? This is an important question, especially for IBM i shops that are looking to take their considerable investment in encoded business logic to the next level.
[Interview with OpenLegacy customer, Tiago Spritzer, Technology Director of Grupo Financiero Banamex]
Citibanamex knows that today differentiation lies in the digital platforms. With its new mobile banking, digital branches, and open APIs, Mexico's oldest financial group is looking to gain participation and improve customer service. Spanish version also available here.
The factors driving the cloud micro services market is, with rapid enhancement in advanced technologies, use of connected devices and digital solutions is gaining high momentum due to which, the scope of digital transformation is getting broader.
“When digital transformation is done right, it’s like a caterpillar turning into a butterfly, but when done wrong, all you have is a really fast caterpillar.” The complex nature of digitalization, cleverly summed up by the renowned MIT Professor George Westerman, is even more intricate for the financial services sectors.
Microservices architecture has paved way to new approaches in application programming interfaces (API), which allows setting a more agile development in delivering services to clients. The architecture based on microservices is a new way to creating next-generation cloud infrastructures.
Insurers generally have a multiplicity of incompatible core systems of record across different business units and country operations. How do they deliver constant, digitally transformed customer delight and collapse claims and operational costs?
In addition to being named one of the Top 10 Best Performing API Solution Providers, disruptive newcomer OpenLegacy has recently been making headlines around the world with an impressive $30 million dollar funding round.
Great catching up with Zeev Avidan, Chief Product Officer, OpenLegacy on the heels of them closing a $30 million funding round and launching version 4.2 of their API integration and management platform. To date, OpenLegacy has earned their stripes by enabling financial services and insurance companies with significant legacy infrastructure to leverage existing systems and avoid or mitigate the risk of costly migration and modernization projects.
JERUSALEM, Nov 28 (Reuters) - Israel’s OpenLegacy, whose software helps companies create digital services from older systems, said on Wednesday it raised $30 million in a funding round led by Silverhorn Investment Advisors.
Fun fact: Many long-established insurance companies still rely on legacy mainframes computers running applications in an outdated programming language from the 1960s.
Automation, alignment, and security are just three of a long list of things for developers to learn about DevOps. Do you need to strengthen the security of the mobile apps you build? Discover more than 50 secure mobile development coding practices to make your apps more secure.
Application modernization means different things to different people. For some, it could be turning a 5250 screen into a Web or mobile interface, or replacing database access with SQL. But for others in the IBM i community, including the vendor OpenLegacy, modernization refers to exposing existing business logic as APIs through a microservices architecture.
New IMS Connector Simplifies the Creation of Digital Channels and Innovations in IMS Environments OpenLegacy, the leader in delivering microservices-based API integration and management for core and legacy systems, announces the latest addition to its comprehensive library of native connectors to include the IMS DC system.
OpenLegacy, the leader in delivering microservices-based API integration and management for on-premise and legacy applications, announces the latest version of its software, smoothing the path for enterprises to speed integration of the latest in fintech, insurtech, and other digital, customer- and process-focused technologies.
Cloud Micro services – Global Market Future study with Growth at CAGR of +5.5% by 2025 | Top Companies like – WS, CA Technologies, Contino, CoScale, IBM, Infosys, Kontena, Macaw Software, Marlabs, Microsoft, Netifi, NGINX, OpenLegacy, Oracle,, Pivotal Software.
OpenLegacy was recently selected as one of nine startups in Fintech Europe's initial accelerator batch. Sponsored by Plug and Play in partnership with Deutsche Bank and Tech Quartier, the Frankfurt-based program intends to run two 12-accelerator batches per year.
OpenLegacy has experienced significant growth in sales and personnel since January of 2018, especially in North America. The expansion includes a team increase of 26% focused on meeting the demand for OpenLegacy technology in new regions, especially major North American hubs, such as New York, Chicago, and Dallas, as well as Mexico. Platform Support members have been added to manage the growth generated by the regional expansion and increasing global customer base.
The purpose of this brief article is to get you thinking, in concrete ways, about taking some of what you already have, so called legacy applications, and making them available in the cloud. Is it really possible to take legacy systems and move them to the cloud?