WSO2 technology powers global banks

Thursday, 10 March 2011 00:22 - - {{hitsCtrl.values.hits}}

Globally recognised innovator and visionary in middleware technology, WSO2 completed its most recent success in the banking industry when it assisted one of Ukraine’s most trustworthy banks, Alfa-Bank., to adapt to the ever-changing global market rapidly and cost effectively.

Competing against global software giants like IBM, Oracle and Tibco, the Sri Lankan company boasts an impressive portfolio of clientele in the banking industry, featuring the likes of Deutsche Bank, MIG Bank, Chapdelaine and the Federal Home Loan Bank of San Francisco all of who faced a common challenge of sustainability in this era of continuous change.

Adapting to change is a crucial requirement in order to survive and thrive in today’s highly competitive market, but rigid and bulky IT infrastructures often hinder development, resulting in higher costs and a lengthier adoption process.

However, seamless, cost effective and timely adoption has been proven to be possible by using WSO2’s comprehensive and lean middleware stack. Alfa-Bank smoothly integrated their new addition; the technically superior Temenos T24 core banking system with its existing IT infrastructure with the support of WSO2 technology.

Integration was significantly faster and remarkably cost-effective since the WSO2 product stack is 100% open source and offers easy configuration through simple user interfaces. A new case study published by the company highlights some of the challenges faced and how they were overcome.

With WSO2’s fully-compontentised products and services, banks such as Deutsche Bank have also been able to rebuild their existing bulky systems around the lean, modular and cost effective Service Oriented Architecture (SOA) system, thereby reaping immediate benefits through a combination of reduced license and maintenance costs together with improved performance, flexibility and productivity, all within a short span of time.

Ken Torres, Senior Vice President of IT at Chapdelaine highlighted a key advantage he found and said,“WSO2 provides a framework that puts all the pieces together we need as a customer to quickly develop our SOA and bring it to market. Any other solution would have taken considerably longer.”

With unmatched industry-best expertise in providing SOA and middleware solutions, WSO2 continues to push boundaries and re-designs middleware to provide leaner solutions that exceed customer expectations.