service oriented architecture - in banking - 2008

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1. Service Oriented Architecture By Rajeev Tiwari Rajesh Ramadoss Rishinarayan Sharma Ratanjeet Singh Sandeep Vadnere Lets talk about it - In Banking 2. Some Realities SOA: Will not solve all your problems SOA: Innovations would not stop here SOA: Is not the start all and the end all of technology. SOA will not get you a Supermodel Girlfriend With this clarified, it is still worth attending this session on SOA. So please sit down. 3. Terminologies Defined SOA is a method for systems development and integration where functionality is grouped around business processes and packaged as services. Service A service is a unit of work done by a Service Provider to achieve desired end results for a Service Consumer. Service Requestor Systems which are the consumer of services accessible by well-defined and published interfaces. Service Provider Systems which are the providers of services accessible by well-defined and published interfaces. Service Registry / Directory is a well-known directory of available services 4. SOA : What is it really? Service Requestor Service Provider Service Registry 5. Financial Services Bank Monolithic Financial Institutions Distribution Retailers Captive units Dealers Agents Franchises Product Supplies Consumer Credit Cards Insurance Risk , Compliance Portfolio Risk Mgmt Regulatory Compliance Processing Utilities Core Banking Security Lending Payments Fraud, AML Competency led Enterprises 6. What does this mean? C Proprietary DB System Websphere Java Oracle XML C C++ DB2 Websphere Java Domino Server Bank Functionality Customization Products Online ATM Branch Internet Intranet LOB Channel Specific Infrastructure 7. SOA to the Rescue Open Standards and Web Technologies Websphere Bank Functionality Customization Online ATM Branch Internet Intranet LOB Channel Specific Infrastructure Shared Business Logic and Infrastructure 8. How is SOA different Traditional Method of Programming IT Application Authentication LoansAccount Operations Misc Savings Current Demat Personal SME Credit Debit AgricultureBalance Enquiry Funds Transfer Export Finance Services offered by the banks Functions which form the Service Customer Bank Databases 9. How is SOA different Traditional Method of Programming Limitations Inability of the IT System to match the Business requirement Lack of flexibility in changing existing applications Time consumed in developing new applications Cost involved in developing new applications Limitations in providing Interoperability between programming languages and platforms 10. How is SOA different SOA Architecture Services offered by the banks Functions which form the Service Service Orchestration or Service Choreography Customer Bank IT Application Authentication LoansAccount Operations Misc Savings Current Demat Personal SME Credit Debit Agriculture Balance Enquiry Funds Transfer Export Finance Databases 11. How is SOA different SOA Architecture Advantages Ease of Maintenance Redundancy avoided Challenges Upfront strategy and investment Identification of the various services to be provided. (Should neither be too fine grained nor too coarse) Ownership of the services Commitment should be driven from the top management to be successful. 12. Benefits of SOA approach to Banks Reduced time to market and lower cost for new product and service offerings In an era of increased customer demands and expectations, as well as internal pressures spurred by such factors as mergers and acquisitions, banks must bring new applications to market faster than before. Standardization makes the key application demand of new product offerings the development of new, and the intelligent reuse of, services significantly simpler and cheaper. Ability to deliver a customer- focused experience SOA fosters reuse, which promotes consistency across channels and applications. Because banks often must introduce new service capabilities to address a small, but profitable, market segment, SOA lets them do so without redeveloping or creating new intelligence for a broad set of applications. This, in turn, enables a bank to continue to present the same "face" to its customers regardless of the channel accessed. Simpler and less-expensive application maintenance The standardization inherent in the SOA approach, which results in more functions being performed by less computer code, makes application and capability maintenance significantly less complex and more cost-effective. Because fewer components are affected, reduced development/project complexity and lower operational risk are the rewards. 13. Benefits of SOA approach to Banks Reduced operational risk A fully implemented SOA provides a bank with a highly predictable application environment that reduces risk in day-to-day operations, due to the minimization and isolation of change to the production systems. Banks that fail to take this approach must constantly change their interfaces as external and internal requirements change. This introduces significant risk and the need for near-continuous testing to ensure that the customer "touchpoints" and the back-end processes do not fail, while ensuring that one data or service change doesn't adversely affect other data changes integrated through an interface. Leveraged channel capabilities Banks with limited resources tend to seek packaged applications. In doing so, they can better leverage SOA-embedded core banking systems by making new channel deployment and back-end application logic more practical and affordable. Such banks typically lack the depth in IT resources and skills that larger banks claim. SOA offers such banks, mid-tier banks in particular, greater capabilities as well as reduced development and maintenance risks without relying on proprietary systems from a single provider. Incremental deployment Services can be developed and deployed in an incremental fashion without immediately requiring the bank to move all of its application portfolio to SOA. 14. Thank You & Time to wake up 15. Questions

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