This Fortune 1000 financial software provider delivers business and financial management solutions to a global customer base of 60 million small businesses, accounting professionals and consumers. The company’s national reach is so wide, that its solutions crunch and/or distribute 20% of the United States Gross Domestic Product (GDP). On a global scale, the company’s solutions are integrated to 19,000, or 40% of, the world’s banks.
Transforming an Industry Leader with APIs
After enjoying years of accelerated customer and product expansion, in 2008, the company identified not only a profound shift in customer engagement as a result of emerging technologies and changing culture, but also an alarming halt in growth and innovation within the company. Slow-moving IT and a disconnected architecture bottlenecked new ideas, preventing new features and products from coming to market at reasonable speed, if at all. Without innovating and responding to customer demands at the speed of technology change, the company could not maintain its market stronghold over the long-term.
This software provider decided to focus on continuous innovation, rapid testing of new concepts, and delivering delightful experiences to customers. But delivering on this vision required a major shift in IT. They needed to turn their IT capabilities into an innovation platform, and that required service enabling and connecting all of their applications and data sources, then API-enabling those services for rapid access by internal consumers, partners, and even third party developers. It also required a restructuring of the development organization into small teams that would execute rapid releases in agile sprints.
The company began their transformation by creating a service layer using Mule ESB. With this in place, they created APIs on those services to expose data with internal teams, to support mobile and web application initiatives, and to share selected services with 3rd party developers to further innovation and reach. The Anypoint Platform now serves as the backbone of the company’s back office integration and has been adopted as the standard API management solution throughout the company.
A Future Focused on APIs
Today, the company aims to maintain its strong forward momentum with the help of APIs that will allow them to continue opening out to, harnessing and building upon valuable data. They plan to integrate MuleSoft’s Anypoint Platform for APIs in a larger way, as the company shifts towards greater API development and usage.
Access this brief case study to see how this top financial company was able to address their API challenges, doubling their customer base in 5 years and reducing the time to develop new APIs from a month to just a few hours.