BankAPI
github.com
BankAPI
1–10 of 87 posts
Re: BankAPI
#2Are there any banks actually using this? Or is it more like a suggested spec draft?
Re: BankAPI
#3As far as I know banks tend to prefer dedicated lines rather than relying on the internet, but I guess that isn't always available.
Re: BankAPI
#4With banks considering the switch to the Cloud, how would this specification address the issue of key management on the Cloud? That's the "key" to Cloud security. Currently, there are solutions available which are obnoxious for those who really want security of their data and not just a tick mark on some data security checklist because key managers CANNOT be hosted on the Cloud. The dominant approach (CipherCloud for example) is to have an encryption gateway in-house which encrypts/decrypts/tokenizes on-the-fly before data leaves for the Cloud. Their approach is to enable support for popular SaaS apps like SalesForce and archive storage like S3 etc which makes sense BUT then again, it's dependent on whether the vendor would add support for more apps or open the API for 3rd party devs to plug in support for other Cloud apps.
Re: BankAPI
#5As far as I know banks tend to prefer dedicated lines rather than relying on the internet, but I guess that isn't always available.
They used to. Now Cisco is also building their "enterprise" Cloud to target their financial sector clients (banks et al) because they're seeing business going to Amazon and decline of dedicated data centers to do something which can be done more efficiently by Amazon et al. Security is just going to become even more important and significant
Re: BankAPI
#6As far as I know banks tend to prefer dedicated lines rather than relying on the internet, but I guess that isn't always available.
More and more traffic to and from banks goes over the public internet, it is a matter of time before 'dedicated lines' will be limited to the military and that's pretty much where the internet originated so at a guess even they are using the internet except for when it is extremely critical to get traffic from 'a' to 'b' with minimum latency.
Re: BankAPI
#7Are there any banks actually using this? Or is it more like a suggested spec draft?
Never heard of it. The README only link RFCs concerning PGP. I didn't find a draft of standards for protocol itself.
Re: BankAPI
#8This is a cool project, but considering how over-regulated banks are these days (at least in Europe) I think it's very unlikely that they would actually use this. Most bank software is still written in Cobol code that they have invested four decades into and are now too afraid to rewrite or even touch. So, specifying the requirements for an interbank message system would probably take them a few years already, and implementing it in a "proper" way -i.e. confirming to all their regulatory requirements- would take ages (also, they will probably already have a system for this in place).
That being said, I think for less regulated sectors of the industry this could be a very interesting project.
Re: BankAPI
#9This is a cool project, but considering how over-regulated banks are these days (at least in Europe) I think it's very unlikely that they would actually use this. Most bank software is still written in Cobol code that they have invested four decades into and are now too afraid to rewrite or even touch. So, specifying the requirements for an interbank message system would probably take them a few years already, and im…
I have worked for banks and data centers/bank service providers and have not seen a single line of Cobol but millions Java-LOC and REXX.
Re: BankAPI
#10This is a cool project, but considering how over-regulated banks are these days (at least in Europe) I think it's very unlikely that they would actually use this. Most bank software is still written in Cobol code that they have invested four decades into and are now too afraid to rewrite or even touch. So, specifying the requirements for an interbank message system would probably take them a few years already, and im…
I used to work for one of the megabanks. The majority of their credit card processing is written in Fortran and runs on 20-30+ yr old mainframes. They don't dare touch it. "If it ain't broke..."
There are certain universities that teach Fortran specifically for companies like this; any student of Fortran has an automatic offer once they graduate.