Java defeating the Financial Crisis - a tale from the front-line
This session will examine a project running in the Netherlands for the fourth largest Dutch bank. This bank has made a strategic decision to empower her customers on-line by fully automating her business processes using full scale Straight Through Processing (STP). This extreme use of online STP is the trigger in a shift that is of crucial importance to cost effective banking, made even more relevant by the current world wide Financial Crisis. We examine the integrated Java solution architecture by detailing the major component layers used to implement the case study, a project entitled STP Purchasing. This project enables the online purchasing of savings products, all fully STP enabled to ensure completion of requests within days instead of weeks. The various key components used in the implementation include an Open Source Software (OSS) infrastructure, a process engine, our service-oriented architecture (SOA) layer, and the various back-end systems.
The most significantcant part of this session will provide some insight into our first experiences in this solution space. We will openly discuss our experiences and provide do's and don'ts that we are currently putting into production in successive projects. Finally, we will present empirical data resulting from the STP Purchasing project running in production which demonstrates how the Financial Crisis is losing the battle here in the Netherlands.