We use cookies and other similar technologies (Cookies) to enhance your experience and to provide you with relevant content and ads. By using our website, you are agreeing to the use of Cookies. You can change your settings at any time. Cookie Policy.

The business and IT challenges associated with retail banking involve immense complexity, requiring a solution set agile enough to manage a heterogeneous environment, said Stanley Young, worldwide director for financial markets at Hewlett-Packard.



At a recent talk in New York at the Web Services/SOA on Wall Street conference, Young made the case for retail banks to develop service-oriented architectures that can bridge the gap between Web-based technologies and legacy systems.

“Mainframe legacy systems aren’t going away, the mainframe needs to be supported by the SOA,” he said. “We live in the real world; there’s a mix of Web services and legacy systems, and we recognize that our SOA has to be able to handle all of these various options.”

“While SOA increases the ease of integration, it also increases the complexity and management challenges,” Young said.

Problems involved in building banks’ SOA include an inconistent use of data across product silos, which create data quality issues. Data integration can be hampered by the lack of data management processes. In the current environment, new services often can’t be introduced quickly due to a lack of continuous, reliable information flow.

Young said that HP’s OpenBank solution offers a single, complete relationship view of customers across product and delivery channels, provides instantaneous access to profitability metrics and key business indicators, and consolidates customer and account data for efficient and effective service request handling. Design principles for the new product are simplification, standardization, modularity and integration, he added.

In an SOA context, Young said that OpenBank deals with three inter-related information channels that require continuous messaging capability: service consumers, business services, and services providers. Service consumers, the bank branches, automated teller machines and call centers, require information of business services, which provide customer profiles, account summaries, payments and loan information, and then the services providers are actually able to report on and confirm transactions such as deposits and loans.

Corresponding to a reference architecture, Young said OpenBank recommends a “product-agnostic” universal connectivity service and messaging capability to provide business event management, merging of common application services and provides data access for transactions. This server’s role is to translate between Web services and non-Web services applications, with pluggable components and a heterogeneous communications style. OpenBank also deploys probes to make sure everything is working correctly – a drill-down tool that has the capability to analyze transactions.

About the Author

Elizabeth Book Kratz has been Editor-in-Chief at ebizQ since 2004. Her business, technology and analytical writing has been published in the International Herald Tribune’s Germany edition -- the Frankfurter Allgemeine Zeitung-Weekly, the Jerusalem Post, National Defense Magazine, the Johns Hopkins Journal of American Politics, the British Financial Times, the Wall Street Journal Europe and many others. She is a 2003-2004 fellow of the Robert Bosch Foundation, and holds memberships in the Atlantic Bridge and the Düsseldorf Institute for Foreign and Security Policy. Elizabeth can be reached at editor at ebizQ.net.

More by Elizabeth Book Kratz

About ebizQ

ebizQ is the insider’s guide to next-generation business process management. We offer a growing collection of independent editorial articles on BPM trends, issues, challenges and solutions, all targeted to business and IT BPM professionals.

We cover BPM standards, governance, technology and continuous process improvement, as well as process discovery, modeling, simulation and optimization, among many other areas. We follow case management, decision management, business rules management, operational intelligence, complex event processing and other related topics. We closely track important trends such as the rise of social BPM, mobile BPM and BPM in the cloud. We also explore BPM’s use in functional areas, such as supply chain and customer management, and in key verticals, such as financial services, health care, insurance and government.

ebizQ's other BPM-oriented content includes podcasts, webcasts, webinars, white papers, a variety of expert blogs, a lively online forum and much more.

-1-

1  

Explore Our Topics

  • EDITOR'S BRIEFING
  • Virtual Conferences
  • Webinars
  • Roundtables

BPM in Action

March 10, 2011

The sixth annual BPM in Action 2011 Virtual Conference will explore cutting-edge market developments in BPM and describe how to leverage them for improved business operation and performance. More

View All Virtual Conferences

Smart Case Management: Why It's So Smart.

Date:Nov 05, 2009
Time:12:00 PM ET- (17:00 GMT)

REGISTER TODAY!

Date:Oct 29, 2009
Time:15:00 PM ET- (19:00 GMT)

REGISTER TODAY!
View All Roundtables
  • Research Library
  • Podcasts
  • News

Joe McKendrick: Part II of II: Designing Evolve-ability into SOA and IT Systems

In part two of Joe McKendrick's recent podcast with Miko Matsumura, chief strategist for Software AG, they talk about how SOA and IT systems need to change and grow and adapt with the organization around it.

Listen Now

Phil Wainewright: Helping Brands Engage with Social Media

Phil Wainewright interviews David Vap, VP of products at RightNow Technologies, and finds out how sharing best practices can help businesses understand how best to engage with online communities.

Listen Now

Peter Schooff: Making Every IT Dollar Result in a Desired Business Outcome: Scott Hebner of IBM Rati

Scott Hebner, Vice President of Marketing and Strategy for IBM Rational, discusses a topic on the top of every company's mind today: getting the most from IT investments.

Listen Now

Jessica Ann Mola: Where Will BI Fit In? Lyndsay Wise Explains

In BI, this tough economy and the increasing role of Web 2.0 and MDM are certainly topics on people's minds today. WiseAnalytics' Lyndsay Wise addresses each of them in this informative podcast.

Listen Now

Dennis Byron: Talking with...Deepak Singh of BPM Provider Adeptia

Deepak Singh, President and CTO of Adeptia, joins ebizQ's Dennis Byron in a podcast that gets its hand around the trend of industry-specific BPM.

Listen Now
More Podcasts
  • Most Popular
  • Quick Guide
  • Most Discussed

Quick Guide: What is BPM?

Learn More

Quick Guide: What is Event Processing?

Smart event processing can help your company run smarter and faster. This comprehensive guide helps you research the basics of complex event processing (CEP) and learn how to get started on the right foot with your CEP project using EDA, RFID, SOA, SCADA and other relevant technologies. Learn More

Quick Guide: What is Enterprise 2.0?

A lot of people are talking about Enterprise 2.0 as being the business application of Web 2.0 technology. However, there's still some debate on exactly what this technology entails, how it applies to today's business models, and which components bring true value. Some use the term Enterprise 2.0 exclusively to describe the use of social networking technologies in the enterprise, while others use it to describe a web economy platform, or the technological framework behind such a platform. Still others say that Enterprise 2.0 is all of these things. Learn More