Interview with Alexey Efimov, Director, FLEXTERA Front Office Department, Diasoft (The Banking Technologies Magazine).
You are here
Technological Enhancement of the Mature Market Players
For the mature markets Diasoft offers a modern cost effective approach to legacy solutions enhancement which allows for rapid modernization of the existing IT infrastructure and also provides the business with a powerful development tool. Using Diasoft’s unique methodology to the legacy system renovation, the Customer acquires all advantages of modern technologies without the need to reconstruct their business processes.
Diasoft’s FLEXTERA System Platform allows for renovating banking software through automated conversion of legacy source code to cutting-edge SOA JavaEE technology. It brings legacy systems to a new level of flexibility, increases performance and enhances integration and development capacities while retaining the business logic of all operations and providing opportunity to use the same user interfaces and operations the Customer has accustomed to.
In comparison to full scale system replacement, Diasoft’s approach to renewal offers to the financial institution a great number of advantages and opportunities including:
- Minimization of the transformation time through rapid deployment, automated legacy code conversion, and wide reuse of the existing components,
- Reduced costs of legacy technologies applications porting to modern system platforms,
- Low need for customization as the business processes and specifics of the business practice are retained from the old system,
- No training expenses as the staff quickly adapts to the new system thanks to the use of the same user interfaces and business logic,
- No data migration or data loss risks as the database structure is retained,
- Flexible tools for integration with third party modules or services,
- Increased transformation ROI and access to the modern future proof business development tools,
- Access to the advantages of Service-Oriented Architecture and Java development tools.
With this cost effective and low-risk approach, the Customer can capitalize on the investments and years of work spent on perfecting legacy software and acquire an advanced orchestration mechanism for the better performance and successful future development.
FLEXTERA System Platform is a modern SOA-compliant development tool and a reliable framework for Java-based services based on IBM’s MiddleWare technologies and the most advanced industry standards. The platform incorporates a set of services performing separate business functions and provides a comprehensive Business Process Management Engine orchestrating these services and third party applications within a single business process.
FLEXTERA Front Office is a comprehensive suite of software solutions supporting different aspects of the bank’s daily front office interactions with its clients and partners. The solution combines multi channel enablement with advanced CRM capacity to ensure ubiquitous client servicing, optimize the bank’s operations, and to explore new cross selling opportunities.
Together with other Diasoft’s solutions, FLEXTERA Front Office provides complete lifecycle support for retail, corporate and investment banking and capital market operations. Due to their technological advantages, all the FLEXTERA solutions open to our Customers new opportunities for the strategic business development and streamlining of their banking services.
FLEXTERA Back Office provides the overall support of various product lines of a financial institution. This support includes designing, configuring, life cycle management and accounting of all modern financial products and services in full compliance with regulatory requirements and Customer needs. To launch a new product or enhance the existing one, our Customer may choose between the deployment of the corresponding off-the-shelf FLEXTERA Back Office module and the implementation of a customized solution designed to fit technological and business needs.
FLEXTERA Back Office incorporates the features which are relatively new for the back office systems like sales channels management or performance monitoring of separate products. This allows for end-to-end integration of the bank’s functional areas and creates a unified information space for transparent management of banking products and customer relations. The logical separation of product performance and financial accounting allows for better estimation of each product performance and the performance fluctuations.
FLEXTERA Middle Office functional modules provide its customers with extensive decision support, risk management and performance control functionality. These modules mostly fulfill business support functions rather than actual service or product provision, but it is middle office inventory which is responsible for the success and stable financial position of a financial institution.
Targeted at the successful business support, FLEXTERA Middle Office offers the most sophisticated tools for scoring, decision-making, risk identification, assessment and prioritization, management of limits, operations performance control, and debt collections. FLEXTERA’s broad integration inventory ensures its smooth interaction with third party applications fulfilling similar functions as well as communication with other organizations like credit bureaus and legal bodies to ensure strong analytical support of every decision and prevention of financial crimes.
