Financial Services – Bank

Fiorano 'Out Of The Box' Integration Streamlines the Entire Banking Architecture at Large UAE Bank

Customer Profile

Incorporated in the UAE, with a 2014 operating income of more than AED 1 billion, the reported Bank is a full services bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shariah compliant services.

It recently won several awards at the 2015 Banker Middle East Product Awards further establishing its leadership in the Middle East region.

Business Problem

This large Bank in the UAE had all its satellite applications running across multiple hardware and software platforms connected to its core banking system (Temenos T24) via several customizations in the core banking system. This siloed nature of the integrations increased the load and complexity of the system and severely limited the bank's ability to offer sophisticated services to their customers. Without an agile middleware solution, the Bank faced multiple challenges on Validation, Logging and Alters delaying the propagation of customer data to multiple applications and affecting customer experience.

The Bank not only needed multichannel integration to enhance the customer experience but also an architecture with sophisticated integration capabilities to adapt to emerging technological evolutions (digitalization).

Solution

Fiorano implemented an 'out of the box' integration solution for the Bank's Temenos T24 core banking system. With ability of codeless integration with T24, the Bank was able to immediately integrate its HR Management System (HRMS), UAE Fund Transfer System, Basel standards - Regulatory Consistency Assessment Programme (RCAP), Anti Money Laundering (AML) and SWIFT systems to the core banking system. With Fiorano's powerful Microservice-centric connectors, the bank was able to integrate components rapidly, finishing phase-one in a record 45 days.

Fiorano's Microservices architecture supports an incremental deployment model, enabling deployments to be more modular and standardized, with lower risk and expense. T24 on Fiorano ESB incorporates proven enterprise architecture, service delivery, deployable business functionality and an integrated portfolio of Microservice-centric business services transforming the Bank's architecture into a horizontal, closely integrated core system to accommodate free flow of data.

Unlike the traditional approaches, Fiorano allows the Banking staff in IT or business to perform lightweight, self-service data and application integration, where "Citizen Integrators" can visually assemble instantly running solutions by drawing application and service nodes on a canvas through drag-and-drop of active Fiorano Microservice components. The lines between nodes comprise event flows via active message pipelines,collectively representing a user-defined event-driven architecture. The visual model is the ready-to-run, fully implemented application, with no additional programming required.

Results

Fiorano has streamlined the application architecture of the bank. It has reduced the time required for development of interfaces between the core banking system and satellite applications. Prior to Fiorano, a medium complexity interface (with 5 message types) would take about 3 weeks (15 man days) for development. With Fiorano, the Bank completes the development activity within a week (5 man days). The Bank now can easily process about 2000 transactions in a record time of under 10 minutes.

Most of the business logic and validations with respect to formatting have now been moved to Fiorano, drastically reducing core banking complexity and over dependency. Below are some of the immediate benefits the Bank has observed;

• Alerting the functional team at the right time (before effecting the business) quickening the process of issue escalation to the relevant team.
• Document tracking (Message logging) helps the team to post-mortem any issue to further accelerate the resolution process.
• Significantly improved the customer satisfaction levels
• Quicker on-boarding of new interfaces/channels
• Implementation of Central Bank regulatory requirements well within the required deadlines

With the phenomenal success of is phase-one of its integration project, the bank has decided to migrate all its current interfaces (more than 30) and address all future integration needs of their businesses using Fiorano.

Business Benefits

Better Customer Experience - With transactions running on real-time, the Bank is able to deliver customer data, transactions and services at the desired speed, resulting in an enhanced customer experience.

A Modern Integration Platform - Because Fiorano's architecture is inherently cloud-friendly, the Bank has the capability to easily move any of its applications to the cloud and deliver solutions across cloud, on-premise and hybrid environments.

Citizen integration - Fiorano provides the ability for business users to perform lightweight, self-service data and application integration, a new "high speed" approach to integration.

Increased Productivity, Reduced Costs - With the Fiorano platform integrating different components, transformation code does not need to be written across multiple applications where these components are re-used. This leads to a direct increase in productivity and reduced overall costs of development.

Ultra-Fast Response to Market Requirements - Fiorano's code-free integration approach dramatically reduces implementation time, allowing the bank to bring new capabilities and customer experiences to market faster.

Increase Business Agility - Fiorano simplifies application maintenance and new application development, resulting in dramatically reduced likelihood of outages.

About Fiorano Software

Fiorano Software (www.fiorano.com) is a leading provider of enterprise class business process integration and messaging infrastructure technology. Fiorano's network-centric solutions set a new paradigm in ROI, performance, interoperability and scalability. Global leaders including Fortune 500 companies such as Boeing, British Telecom, Credit Agricole Titres, Lockheed Martin, NASA, POSCO, Qwest Communications, Schlumberger and Vodafone among others have used Fiorano technology to deploy their enterprise nervous systems.

To find out more about how Fiorano can help you meet your enterprise integration objectives, visit www.fiorano.com or Email us, we will contact you!