Using customer data integration (CDI) technologies and a service oriented architecture (SOA), Fidelity National Information Services (FIS) and Sun Microsystems have developed a solution for the aggregation of banking customer information from a variety of different sources.
The need for this solution was expressed by Gautam Pasupuleti, product manager at FIS, who said, "The single view of the customer has long been a problem for banks. Many banks want to offer dynamic product packaging, where they look at a customer's accounts, history, and profitability and, based on that, recommend a new product package. Decisions like that can only be made if you have a complete view of the customer."
How, then, with customer information arranged in silos, does a bank manage its cross-selling efforts, the industry asked. Some banks have undertaken staff retraining and empowerment focused on a customer-oriented sales culture, "...paying increased attention to their customer relationship strategy," according to Bart Narter, a senior analyst at Celent.
The solution developed by FIS and Sun enables banks to rebuild infrastructure piece by piece. Based on JavaTM Platform, Enterprise Edition (JavaTM EE), it comprises the Universal Customer System (UCS) and Xpress Enterprise Services (XES), a middleware layer that enables the SOA. Together, these two product suites work to separate business functions such as a funds transfer or withdrawal from the core-processing systems and to expose core banking functionality as generic services, based on open standards.
An immediate benefit to users of this solution is one that Pasupuleti identifies. In an age of mergers and acquisitions, when one bank acquires another with different systems, rather than having to operate from multiple screens until one system or the other is retired, "With our software, there is no disruption, because those business services can connect to multiple core-processing systems, until you do the replacement. The front end is never affected; there is no dependency between channel and core-processing applications," he explained.
A further strength of the joint FIS/Sun solution is that the Sun JavaTM Enterprise System middleware stack on which it is based uses a standards-based business process workflow and a web services solution that enables a single sign-on identity management and multi-channel portal interface that supports a wide range of end-user clients, according to Ramesh Nagappan, a Java technology architect.
Donna Rubin, Sun's director of Financial Services Marketing and Strategy, points out that a bank's cost of implementing the solution is reduced as a result of the integration and pre-testing involved with the development of the Java Enterprise System.
FIS stresses the value of the solution's synchronization, which allows a customer's change of address, for example, in one application to be updated throughout a bank's entire system.
This complete story is available at Boost Customer Loyalty, Stem Revenue Decline.
Read More ...