From a Legacy API Management Stack to a Modern & Tailored Open Banking Compliance Solution
About KFH
Established in 1977 as the first Islamic bank in Kuwait, Kuwait Finance House (KFH) has grown into a global pioneer in Sharia-compliant financial services. Recognised as the World's leading Islamic Bank,' KFH is the largest listed company on the Kuwait Stock Exchange, operating a vast international network across Kuwait, Bahrain, Saudi Arabia, Turkey, Malaysia, and Germany.
The Challenge
KFH was operating a legacy API Management platform based on Software AG WebMethods. While suitable for general API exposure, it was not designed for Open Banking compliance.
To meet CBK OB requirements, KFH had to:
Pay high licensing costs for the core API management platform
Purchase an additional license from a Software AG partner to implement OB compliance
Split responsibilities between multiple vendors and systems
Weak alignment with future Open Finance and BaaS needs
The project became complex, expensive, and difficult to govern.
Blurred ownership between API management and Open Banking components
Problem-Solving Approach
A single, coherent platform that understands Open Banking requirements today and is ready for Banking-as-a-Service (BaaS) tomorrow.
Solution Deliverables
Open Banking Components
- Consent Management
- TPP Simulator (Testing Kit)
- Compliant APIs (AIS, PIS)
- Sandbox Environment
- CBK KPIs & Metrics
- Payment Tracker
- Strong Customer Auth (Browser Flow & CIBA) Flows
- Consent Management
- TPP Simulator (Testing Kit)
- Compliant APIs (AIS, PIS)
- Sandbox Environment
- CBK KPIs & Metrics
- Payment Tracker
- Strong Customer Auth (Browser Flow & CIBA) Flows
- Consent Management
- TPP Simulator (Testing Kit)
- Compliant APIs (AIS, PIS)
- Sandbox Environment
- CBK KPIs & Metrics
- Payment Tracker
- Strong Customer Auth (Browser Flow & CIBA) Flows
Wasl Management Console
- API Lifecycle Management
- Documentation Management
- Publication Flow Management
- OB Administration Panel
- Audit Trail, Users Management, Notification etc.
- API Lifecycle Management
- Documentation Management
- Publication Flow Management
- OB Administration Panel
- Audit Trail, Users Management, Notification etc.
- API Lifecycle Management
- Documentation Management
- Publication Flow Management
- OB Administration Panel
- Audit Trail, Users Management, Notification etc.
Wasl Gateway
- Secured & OB Compliant Ready
- Reactive Technology
- Multi-Micro Gateway Way
- Secured & OB Compliant Ready
- Reactive Technology
- Multi-Micro Gateway Way
- Secured & OB Compliant Ready
- Reactive Technology
- Multi-Micro Gateway Way
Wasl Developer Portal
- TPP Self Onboarding
- API Marketplace
- Documentation Portal & Developer Guide
- Announcement
- Certificate exchange
- TPP Self Onboarding
- API Marketplace
- Documentation Portal & Developer Guide
- Announcement
- Certificate exchange
- TPP Self Onboarding
- API Marketplace
- Documentation Portal & Developer Guide
- Announcement
- Certificate exchange
Result
& Impact
Full Compliance
with the CBK Open Banking framework.
Fast Delivery
Time with KFH fully control the system.
Elimination
Elimination of multi-vendor dependency.
Lower Licensing
Lower licensing and operational complexity.
A Future-Ready
Foundation for Open Finance and Banking-as-a-Service initiatives.