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Core Banking Software: Providing a Platform to Speed Time to Value

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The IBM Banking Industry Framework provides a software platform along with prebuilt integrated core banking software extensions, solution accelerators, tooling, templates and best practices to help …

The IBM Banking Industry Framework provides a software platform along with prebuilt integrated core banking software extensions, solution accelerators, tooling, templates and best practices to help you significantly speed time to value in your solution implementation.

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  • 1. IBM Software Banking Solutions Banking IBM Banking Industry Framework – core banking transformation Modernizing and renovating core banking functionality Never before have agility and flexibility been more important for Highlights banks. They are pressured to grow top line revenues while reducing operating costs. To respond to competition from new market entrants, ● Adopt a progressive approach to reno- banks must be able to launch new products faster and support evolving vating and transforming core banking systems channels. They also must be able to handle mergers and acquisitions effectively. ● Leverage the “best-of-the-best” com- ponents from leading application providers Banks around the world have been working to renovate systems that cannot adequately support evolving business needs. The underlying ● Speed core transformation efforts with best practices, methodology, solution systems supporting core banking functions are complex. Many core templates and other accelerators processes are supported by internally developed or highly customized legacy applications. Processes are often hard-wired in applications, ● Lower near-term cost, shorten time to value, and reduce risk in your transfor- making it impossible to respond quickly to new opportunities. mation effort Reconfiguring applications to support new processes is difficult and time consuming. For many banks, a simpler, more strategic core infrastructure is needed. However, large scale transformation efforts are often costly, risky and slow to generate a return on investment. Today banks need a smarter, progressive approach that enables them to transform their infrastructures over time, project by project, leveraging the assets they already have and driving value along the way. Now banks can build a technology roadmap to meet these needs with the IBM Banking Industry Framework for core banking transformation.
  • 2. IBM Software Banking Solutions Banking Bridging the gap between business requirements and IT capabilities The IBM Banking Industry Framework provides a software platform along with prebuilt integrated core banking software extensions, solution accelerators, tooling, templates and best practices to help you significantly speed time to value in your solution implementation. It provides an approach for a pro- gressive, managed, business-driven transformation of your core banking processes. As you prioritize your changing business needs, you have a choice in how to get started. Along with a selection of appli- cations from leading independent software vendors (ISVs), the framework supports your transformation journey with core banking transformation projects in the following solution areas: Core banking application modernization. Transition to modern core banking applications in a staged and modular way with near- IT foundation transformation. Transform the core banking plat- term payback and reduced risk and disruption. Integrate best-of- form, reduce operational cost and risk, and improve core banking breed application components, buy new packaged applications and process efficiency with projects addressing fundamental capabilities integrate with horizontal enterprise-wide processes, or build new such as simplified IT infrastructure, platform scalability, and enter- service-oriented architecture (SOA) components for a customized, prise-wide customer and product information management. lower cost, and less risky approach. The IBM Banking Industry Framework: Core banking process agility. Improve profitability by expanding into new markets faster and bringing innovative products to mar- Giving you what you need ket more quickly. Offer better product pricing and terms for higher A framework approach delivers benefits quickly to your customer satisfaction using flexible and efficient processes, like business. With robust tooling and methodology you can account opening and management, product bundling, and dynamic accelerate the renovation of your core processes and related relationship pricing. systems. Select from multiple entry points for your transfor- mation efforts. Develop new applications, renovate existing applications, or integrate applications provided by independ- ent software vendors (ISVs). Take advantage of development 2
  • 3. IBM Software Banking Solutions Banking just starting out, seeking to optimize your existing infrastruc- ture or somewhere in between. Talk to your IBM representa- tive today about conducting a Business Value Assessment to identify ways to get started. The IBM Banking Industry Framework for core banking transformation provides: ● A common banking vocabulary prepopulated with IBM Information FrameWork (IFW) terms ● An established, standards-based data and message model based on IFW to simplify integration ● Extensions for IBM Master Data Management Server that include core banking-specific concepts such as lending, credit cards, and deposits ● Common foundational IT services required in core banking solutions such as auditing, logging, and security to speed solution development and deployment ● Reusable application components (e.g., interest rates, price best practices for faster results and ROI. Migrate your cus- optimization) plus building blocks (e.g., arrangement, cam- tomer, contract and product data incrementally from multiple paign) to compose business processes existing systems to a master data store and make it available ● Specific solution accelerators for processes such as product to support processes across the enterprise. Enable agile bundling and account opening; includes architecture, design, product management and dynamic product bundling to and a reference implementation better meet the needs of your customers. Plus, as you create ● A collaborative integrated solution development platform opti- a more flexible infrastructure for core banking processes, you mized for core banking that integrates transformation meth- build the foundation for a more strategic architecture that ods, tools, and assets ● Proven architectural design work products for core banking can support improved risk management and better customer projects service. Take advantage of our vast expertise IBM is a global leader in financial services. Financial institu- tions around the world are using an industry framework approach to simplify their technology infrastructure. IBM can help you get on the path to greater agility, whether you are 3
  • 4. Case study: Asian bank speeds time to market This leading Korean bank was struggling to grow its revenue. It wanted to boost revenue growth by speeding time to market for new banking products, especially new deposit and loan-based © Copyright IBM Corporation 2010 offerings. The bank needed to evolve from being a product- centric organization to being more customer-centric. IBM Corporation Software Group With help from IBM, this bank is becoming a “total financial net- Route 100 work” bank, supplying a full suite of tailored financial offerings Somers, NY 10589 for retail and small business customers. They are achieving this U.S.A. by modernizing an existing ISV core banking application and Produced in the United States of America using components of the IBM Banking Industry Framework. The April 2010 modernized application will provide the bank with the ability to All Rights Reserved bundle products and services dynamically, based on specific IBM, the IBM logo and ibm.com are trademarks of International customer needs. Business Machines Corporation in the United States, other countries, or both. If these and other IBM trademarked terms are marked on their first occurrence in this information with a trademark symbol (® or ™), these symbols indicate U.S. registered or common law trademarks owned by IBM at the time this information was published. Such trademarks may also be registered or common law trademarks in other countries. A For more information current list of IBM trademarks is available on the Web at “Copyright and To learn more about the IBM Banking Industry Framework trademark information” at ibm.com/legal/copytrade.shtml for core banking transformation, contact your IBM represen- Other company, product and service names may be trademarks or service tative or visit: ibm.com/software/industry/frameworks/banking. marks of others. IBM provides this publication “as is,” without warranty of any kind, express or implied, including the implied warranties of merchantability or fitness for a particular purpose. Some jurisdictions do not allow disclaimer of express or implied warranties in certain transactions; therefore, this disclaimer may not apply to you. IBM reserves the right to change specifications or other product information without notice. This publication could include technical inaccuracies or typographical errors. References to IBM products and services do not imply that IBM intends to make them available in other countries. Please Recycle BKS03011-USEN-00