XYB Partners with IBM to Deliver Coreless Banking on IBM Cloud

Announced on October 7, 2024, coreless banking provider XYB entered a partnership with IBM to deliver its banking platform on IBM Cloud for Financial Services. The collaboration enables banks to modernize their core systems through componentized, deployable modules rather than full core replacements, reducing vendor dependency and integration complexity. XYB contributes its coreless banking architecture, which provides API-based middleware-like integration layers, while IBM provides its regulated cloud infrastructure and consulting capabilities.

The partnership is positioned to help banks meet imminent regulatory deadlines, including the UK FCA's March 2025 operational resilience rules and the EU's Digital Operational Resilience Act (DORA) effective January 2025. By enabling incremental modernization, the platform allows banks to progressively decompose legacy cores while maintaining operational continuity. The deal reflects a broader industry trend toward composable banking architectures that underpin BaaS and embedded finance capabilities.