Integration platform between BankWorld and other systems making enhancements easier, faster and less costly.
Developments in the retail banking industry are at high speed. As a direct influence, the time from technology incubation till implementation is also constantly shrinking.
Depending on the region, banks are either confronted with a fast change to mainly or digital-only customers or a fast growth of customers requiring a digital strategy to reduce pressure on the branch network.
Due to the speed of the developments, banks cannot afford to freeze requirements for a longer period. Therefore, postponement or lengthy projects with aligned implementation costs are no longer an option.
For years we have been working alongside CR2 as an integration and implementation partner with many of their clients.
Based on this extensive experience, we have developed specific software aimed to further enhance flexibility or functionality of BankWorld.
HUB makes changes and implementation of new developments easier, less costly and faster to implement.
Why does it take some time to get enhancements?
BankWorld is a highly complex standard software package in use at many banks with the aim of providing robust transactional Omni-channel services. Not only BankWorld, but also many other complex standard software solutions face similar issues, software changes to the core take the necessary time. Major releases do impact operations, so most customers prefer a limited number of these interruptions in a year limiting the number of release cycles and causing delays in the availability. Given the many different deployments a release needs thorough development and testing; another reason for postponement.
As with most standard solutions the implication is that enhancements requests can take many months before being realised, requiring a substantial investment due to the cost of testing and documentation.
Why does it take time and investment to implement these changes?
CR2 is mainly uses a point-to-point architecture, systems talk directly to one another. If BankWorld would manage all channels and would interface with one back office, changes would be easy to implement and to maintain.
Performance and stability of the infrastructure are a key element of your customer satisfaction.
Mostly, this is not the case, which means that the complexity and cost of creating a fully integrated platform increase exponentially as you add new systems. Two systems require one connection. Four require six. Eight require twenty-eight. While initially simpler, the costs significantly outweigh the benefits as your business grows, but also the implementation time and risk are increasing substantially.
How to simplify the integration?
The alternative to the point to point is a hub. The software has a consistent architecture, requiring systems to have a single connection to the Hub. We have developed a hub with a standard interface to BankWorld. This allows you to connect to other in-house, third party systems or ESB’s via the Hub faster and with less cost than a point to point connection. It also makes it easier to renew systems.
Does the hub provide more benefits?
Another direct benefit is that if the volume of transactions increases, it puts limited stress on your overall system because you aren’t trying to propagate those transactions through an exponential number of connections.
The hub also provides facilities to queue messages and control the rate at which messages are consumed.
It also provides guaranteed delivery for your messages. So, if your other system is down (For example your SMS gateway sending notifications), you don’t lose messages
How does it limit my enhancements?
The Hub takes care of all the routing/orchestration logic, and through its adapters plugs into the other system to retrieve/create/update/delete data.
This function will limit some of the enhancements you otherwise need to make to BankWorld, reducing the dependency on future releases. Release of new products, a change in fees, and adding channels might go much faster.
The Hub will help you to increase your ability to adapt your business quickly. Since your trained staff are able to make those changes without external support or ask us for assistance to complete the job together.
Some examples of other BankWorld customers:
- One bank wanted to switch from service bus messages to files after the end of day processing. This change was implemented within 10 days
- Another bank wanted to optimise their bill aggregation processing by using scheduling instead of push. This change was realised in 15 days
- A third bank wanted to optimise their notification process, ensuring that the messages were sent to the customers even in the case of a temporary problem with the SMS Gateway
Maximise the ROI of BankWorld:
Reduced liability, increased agility, and “big picture” insight all combine for one more key business benefit: maximum return on investment.
The hub makes your investments in BankWorld more beneficial, it helps you sell more and sell simpler.
We made a technical decision to go with a hub-spoke model. We did this because it enables us to pass these business benefits onto our customers. Consider how you can use the HUB in your organisation to improve how your technology empowers your business.
All you need is an internet connection, PC, and 30 minutes of your time (ask for a demo).
GCP has developed a whole range of products to add to your BankWorld environment to enhance your investment and create profitable relationships with your customers. Check out our product section for more information or contact us directly.