Connect Internal Systems / EAI
EAI Helps Banks Achieve Agility for Faster-Time-to-Revenue
Connecting information in a backend system between databases or programs, also known as Enterprise Application Integration (EAI) enables financial institutions to integrate applications, designed to work independently, to work with one another to accomplish business objectives. Outcomes can include streamlined funds disbursement and wire transfers, automated manual data input, and verifying the accuracy of transactions. EAI can also be configured to support failover alerts to external carrier systems to speed time to correction.
Improved integration capabilities benefits:
- Eliminating constraints for acceptable data formats, increasing convenience for customers
- Faster onboarding of customers resulting in faster time to revenue for both parties
- Retirement of legacy systems that have been limiting growth—without business disruption
- Bi-directional communications from straight-through processing that enables visibility from both sides for file transfer status and confirmation that files have been received error free
- Ability to simply support a wide range of customer and regulatory requirements
- Automated processes for rapid, error-free data exchanges that keep up with the speed of business
- Reduced effort provided by an industry-specific repository of processes, mappings and communication parameters
- End-to-end visibility from improved transmission and monitoring governance—through a single console
EAI in Practice
EAI is applicable in situations such as:
- Connecting applications for event-based interactions
- Event-Driven Architecture (EDA) and Complex Event Processing (CEP)
- Maintaining context with Service Oriented Architecture (SOA), Enterprise Service Bus (ESB) and web services
- Transferring small size events, payload and metadata
- Enabling database interaction (ETL), applications APIs, service registries and reusable services with BPEL orchestration
- Internal-only transfers of high volumes requiring real-time processing
EAI provides the ability for the legacy systems, operating systems and databases to talk to each other and exchange required information needed for approvals, to request missing information, or disapprove a transaction.
For system-to-system event-driven processes that meet the above context, EAI enables financial institutions to gain agility through real-time responsiveness that addresses the speed of informational change which can impact operational decisions, resulting in the bank’s ability to better serve customers. EAI allows applications to be integrated on a real-time basis as events occur and as databases are updated—while the information is most relevant.