Support digitalization and open banking, while reducing data storage requirements and providing real-time access to DIE SOFTWARE securities service.
OBS is a complete core banking system, combining banking and IT technical competence. Many modules make up the platform, such as taxes, securities, financial accounting, current accounts, credit and loans, and reporting. The platform was developed in the 1980s, and leverages COBOL. Patrick Weber, CEO at DIE SOFTWARE, explains the changing environment in which banks operate: “Digitalization is no longer spoken of as a trend; it’s a given and happening today. Within our customer base, open banking is a concept that requires collaboration with third parties and integration into different systems. Using pure COBOL can be a limitation with these requirements.”
He continues: “Many of our client banks deal in securities, generating terabytes upon terabytes of data, especially in Germany. With over two million securities stored in OBS, we wanted to streamline the process, to minimize required disk space and processing time. We needed a solution which reduced the data download feed and data storage requirements for the banks, and provided online access to enter and update securities.”