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23/10/2014 21:32:22
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kBOS Financial Sector Software

Addressing the business requirements

Enterprises in the financial sector have relied for some time now on their information systems for competitive advantage. As a consequence many financial institutions are increasingly finding themselves weighed down by a multitude of legacy applications that don't integrate well nor adapt to marketplace innovations.

 

The challenge for many banks and financial organisations is to embrace customer centric models while transforming their business operations into a Real Time Enterprise. This transformation, however, is critically dependent on the integration platform which will  facilitate process based integration and dynamic adaptation.

kBOS Financial Solutions are developed using a special architectural framework  that supports adaptable financial products.

Key characteristics

  • Management of financial products emphasising adaptability to customer and performance feedback;
  • Support for on line monitoring and analysis of competitive financial products;
  • Provision of selected work flows as web services for integration with existing applications or business partners;
  • Support for the design and implementation of knowledge management strategies within a coherent framework;
  • Provision of a range of e-learning processes including e-training;
  • Support of the only security system on the market with nine permission levels which define exactly what the user can do plus a flexible encryption approach consistent with the security policy;
  • Support of audit trails for any record being created or modified.

 

Design Backbone
A financial architectural framework provides the design backbone for the kBOS financial software. The financial architectural framework compliments the kBOS methodology for developing unified solutions providing collectively a robust approach to deliver dependable financial solutions with the innovative features defined earlier.

The financial architectural framework defines a mutually consistent set of models that describe a kBOS financial solution.

The central model is the financial product (e.g. accounts, time deposits, loans, integrated portfolio management, credit cards etc). The process models and characteristics of financial products are well known and relatively easy to implement. Competitive advantage can therefore be developed primarily through the dynamic interaction of the financial products with innovative customer models and business intelligence models. 

  

Technological advantages

Flexibility

Flexibility is considered the hallmarks for all kBOS solutions. The methodological development approach and the technological facilities provided by the kBOS platform create unlimited possibilities for integration, extension and adaptation. 

 

Controlled integration.

Integration is today feasible but the key to successful integration is the level of control in the integrated solution. Such control is part of the design of kBOS financial solutions. An  integration model defines the interrelationships between different financial products, the customer groups and associated channels of communications, and the competitive and performance data used in management decision making.

 

Competitive advantages

Process optimisation

Support is provided not only for process optimisation but also for performance measurement and feedback handling that ensures competitive values is delivered and can be maintained.  

Flexible customer interface

Process optimisation is particularly critical for the customer interaction process and therefore the proposed solution provides for a flexible customer interface which can be dynamically adjusted.

Potential integration of competitive information

Business intelligence and competition information can be designed in the performance monitoring and control process  and potentially in  the optimisation control rules.




   
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