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Application Architecture Strategies in Retail Banking (Strategic Focus)
Datamonitor, Nov 2008, Pages: 25
Retail banks have developed complex IT infrastructures which arent always suitable to meet new demands in the changing competitive environment. Datamonitor believes that banks require new application architectures that will meet operational requirements for at least 10 years, allowing them to amortize their investments and to first embrace and then leverage upcoming technologies and trends.
Scope
- This report examines the reasons behind why retail banks throughout the world are seeking to enhance existing application architectures.
- This report examines the application architecture strategies available to retail banks, but avoids assuming a one-size-fits-all approach will work.
Highlights of this title
Banks are revisiting application architecture strategies in light of changing operational requirements. Many of the worlds retail banks have unintentionally created complex application landscapes, often with a minimal degree of integration and an over-reliance on silos for specific functions.
Legacy integration infrastructure struggles to deliver efficiencies in modern retail banking. The transition to a customer-centric, multi-channel approach represents a development where institutions must move to a more flexible and streamlined integration architecture if they are to remain competitive.
Developing a seamless multi-channel experience for customers requires a fully integrated infrastructure. SOA provides the most flexible and cost-effective solution to achieve this aim. The combination of SOA-enabling future internal IT infrastructure and the selective use of SaaS is an optimum application architecture strategy for retail banks.
Key reasons to purchase this title
- Gain insight into the challenges faced by retail banks seeking to develop their application architectures.
- Understand the technological evolution of application architecture and the level of SOA penetration in the worlds retail banks.
- Gauge how market conditions are influencing application architecture strategy, including the use of hybrid SOA/SaaS models.
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