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Banking Application ComponentsBanking Application Components
Banking applications tend to have a great deal of common, standard business logic. Usually 70% or more of the business logic embodied in a banking application is non-unique. For example, an online banking system, loan origination application and branch automation solution all have to deal with common banking concepts such as Customer, Currency, Account, Transaction, Loan and many more.
Avanta Banking Objects is an object-oriented application-level framework designed especially for banking, which allows bank IT departments and external IT solution providers to build and deploy new banking applications in an accelerated way.
Avanta provides common banking business logic through an extensive set of pre-built and pre-tested software components called Banking Objects. Avanta includes over 100 pre-built and pre-tested Banking Objects. As a result, it obviates the need to start every new custom-developed banking application from scratch. This component-based approach substantially simplifies and accelerates the development of custom solutions for banking.
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A banking application based on Avanta components
Pre-Built Banking Applications
In addition to Avanta Banking Objects, Avantek offers a set of pre-built banking applications based on the Avanta platform, with available source code, that may be used as they are or as templates to build new banking applications:
- Avanta/CR: Banking customer information file (CIF) system.
- Avanta/GL: Banking general ledger (GL) system.
- Avanta/Retail: Origination, scoring and underwriting for residential mortgages and credit card products.
- Avanta/BC: Cash management system for corporate customers.
- Avanta/CMS: Back office system for card products.
- Avanta/EDC: Electronic delivery channels applications, enabling retail banking through Web, phone (IVR) and mobile messaging.
Benefits Summary
- Shorter development and integration cycles for new IT initiatives (through component reuse, integration features).
- Improved maintainability (no proliferation of similar code).
- Lower total cost of ownership.
- Reduced technical risks (architectural framework is provided).
- Enabling today's apps for tomorrow's technologies (SOA, Web Services).
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“Services-Oriented Architecture will be the key, emerging, nonfinancial competitive differentiator for top-tier banks worldwide from late 2003 through 2005 (0.8 probability). […] Midtier banks that do not deploy SOA risk serious competitive disadvantage by 2007 (0.8 probability).”
- Gartner Group
SOA: A 'Must Have' for Core Banking.
“The core business logic of most transactions is the same whether performed by a call center rep or an online customer. […] Financial institutions and technology providers should take better advantage of object-oriented, component-based solution sets. By using these architectures, they can leverage a common code base across different access channels with different roles and rules based on the user.”
- Bank Systems & Technology
New Access Channels Demand New Technologies.
“Through 2006, IS organizations that combine mature component-based development methods with model-driven or pattern-based application development frameworks that include a large inventory of business components can be 5 to10 times more productive and responsive than those that don't (0.8 probability).”
- Gartner Group
Architected RAD Tools Are Delivering Major Benefits
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