Banks’ interest in FLEXTERA is constantly growing, Finance Magazine

Friday, May 27, 2011

Next couple of years the world banking industry will face a number of challenges. First of all, banks will have to thoroughly watch their expenses, secondly, exercise competent control over business processes, and thirdly, work in centralized mode, rendering services to numerous clients in numerous points of presence.  Successful performance of these tasks is a mandatory condition of crediting institutions survival in the new global economic situation.  

In order to successfully handle these tasks banks need new technologies. FLEXTERA Financial Architecture satisfies all the above market requirements. Built on the basis of real-life bank business processes, the system integrates all the products and the organization information resources within one integrated unit, not only reproducing, but also monitoring all stages and all business process participants, providing the bank management with tools of operational efficiency control and a capability to reduce unjustified costs. SOA ideas and a new approach to creation of banks’ financial architecture, implemented in the Diasoft innovative solution, enable a bank to build step by step a flexible dynamic system, capable to ensure quick and efficient business growth in the long-term perspective at minimal targeted investments.

FLEXTERA is targeted to facilitate operations of banks of various sizes and lines of business.  Specifically, it is ideal for large crediting institutions, which are currently using in-house applications, unable to cope with all market challenges. The new financial architecture offering supports automation of processes which the bank’s IT group is either too much in a bind to support, or lacks profound sufficient competencies and expertise.

FLEXTERA is also in demand by those banks which are operating software suites from five to ten years old. They realize that outdated technologies seriously hinder further development and growth.

The most interesting group of FLEXTERA consumers is forward-thinking bankswho actively monitor new market trends. For instance, they closely watch further development of Internet and social networks capabilities, active expansion of mobile services operators on the retail market, where they offer banking services through terminals and Web-payment systems. They realize that in order to be successful they need a state-of-the-art platform, where support of innovative technologies is basic and inbuilt.   This is a key thing, as no additionally ‘attached’ solutions will be able to support competitiveness of a crediting institution in the long-term prospective. 

Today FLEXTERA is in demand in the banking community: complete readiness of functional modules and stand-alone system services incorporated into an efficient infrastructure ensure streamlining of banking operations and a breakthrough in business.   

Naturally, Diasoft is not engaged in inventing a bicycle, the vendor uses well-proven technology: the basis of the company innovative products is laid by infrastructure components from leading global vendors. The system works on any hardware platforms and ensures robustness and excellent operational performance of created solutions. International experts have confirmed full compliance of Diasoft products to industry and technological standards and market demands: FLEXTERA became the first solution for automation of financial institutions activities in Russia and Eastern Europe to be validated within theIBM Banking Industry Framework. This fact promoted the product recognition on a global scale. The IBM site asserts that FLEXTERA contains the leading edge functionality and is the best solution in the world in terms of cost and quality trade-off.

COMPETITIVE ADVANTAGES

Financial Architecture. Integrates all the information resources of a bank within a single structure. It enables accelerated development due to the fact that a Customer gets a wide selection of70 off-the-shelf modules, which are incorporated within the Customer effective infrastructure.

Automation of business processes. It is built on the basis of a bank production workflow and reproduces and controls the entire business process.

Multi-functional solution. It supports automation of the entire Bank business: corporate, retail and investment segments, as well as operations of all the Bank business units.

Production platforms. It is based on the infrastructural components from leading global providers and is capable to work on any hardware platforms.  

Phenomenal Productivity. Front office – response time is no longer than within a second for concurrent work of 100 thou users. Back office – 8 000 transactions per second on the basis of 100 million of client contracts. General Ledger - 12 000 transactions per second on the basis of 2.5 billion of accounts postings.

Unrestricted Scalability. It allows scaling each system level and a business task individually.

BUSINESS EXPANSION

Financial architecture is an innovative approach to construction of a bank information system. Flexible and technological financial architecture can not only ensure rapid and efficient solution of specific tasks due to efficient targeted changes, but successful development of business for perspective at minimum targeted investments.  The experience has proved that the most effective variant of centralized IT architecture is a component solution, built on the basis of SOA principles and centered on a business process.   SOA brings material financial benefits: a ‘one-step-at-a-time’ approach on transition to the targeted IT architecture allows to select the best product available on the market, easily integrate it into the existing system of business applications and receive an early return on investment without unjustified budget costs and serious risks.  

BOOSTING EFFICIENCY

FLEXTERA Financial Architecture is built on the basis of a platform, which serves as an environment of business processes execution. In this case the system is a source of information. The essence of its functioning is performance of inbuilt business processes –users are guided through each process step by step and the system prompts them when and what should be done. Special tools are used for visualization and setting of business processes inbuilt in the products, and the system of control which monitors the bank activities on a daily basis, does not require special customization. FLEXTERA allows setting up a model of KPIs for each step of a business process and tracking the performance in conformity with the targeted indicators.  This unique functionality enables a bank to evaluate the cost of a business process and, if required, to take some actions on improvement efficiency of the entire business process.   

GLOBAL RECOGNITION

Currently the main market trend is a choice criteria transformation - from selection of individual specific software to the choice of architecture and an architectural project, to consistent building of an open system using the best IT solutions.

FLEXTERA Financial Architecture is a multifunctional multi-component solution, built on the basis of Service Oriented Architecture (SOA), which ensures automation of all business processes of a crediting and financial institution.  This is the first in Russia comprehensive solution for banks, which has fully implemented principles of Service Oriented Architecture. IBM experts believe, that SOA solutions from Diasoft fully conform with state-of-the-art industry and technological standards and can bring new value and competitive edge to financial institutions business.