1 / 15

The effect of standards on the enterprise

The effect of standards on the enterprise . Bill Stangel Fidelity Investments April 26, 2004. Agenda. Why standards are important Standards within the enterprise What’s missing . Who is Fidelity Investments?. #1 provider of workplace retirement savings plans.

bian
Download Presentation

The effect of standards on the enterprise

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The effect of standards on the enterprise Bill Stangel Fidelity Investments April 26, 2004

  2. Agenda • Why standards are important • Standards within the enterprise • What’s missing

  3. Who is Fidelity Investments? #1 provider of workplace retirement savings plans Largest mutual fund company in US Employs over 29,000 people Assets exceed $1 trillion • Fidelity Investments is one of the world’s largest providers of financial services, with custodied assets of $1.9 trillion, including managed assets of $1.0 trillion as of March 31, 2004. • Fidelity offers investment management, retirement planning, brokerage, human resources and benefits outsourcing services to 18 million individuals and institutions as well as through 5,500 • financial intermediaries. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, one of the largest mutual fund • supermarkets and a leading online brokerage firm. For more information about Fidelity Investments, visit www.fidelity.com.

  4. Average daily phone calls: 255,000 Average daily trades: 129,000 Weekly Web visits: 4.5 Million Online daily commissionable trades: 94% Envelopes mailed daily: 650,000 “Routine” Business Transactions • Average daily phone calls and Average daily trades, Fidelity Facts, December 31,2003; Weekly Web visits, FeB Web Stats, as of March 28, 2004; Online daily commissionable trades, FeB Web Stats, as of March 31, 2004; and Envelopes mailed daily, Fidelity Wide Processing (D. Marx), December 2003.

  5. Key Goals for Fidelity The leading manager for trillions of dollars in new, post-retirement assets The team member of choice for correspondents, registered reps, and investment advisors The pre-eminent provider of benefits services The most trusted provider of lifetime investment solutions

  6. Organizations we belong too • WS-I • Oasis • HRXML • Liberty • FIX, SWIFT • ANX • Etc.

  7. Before we had Messaging Standards • 8 protocol hops to get to core data • 5 development groups involved in a transaction • Costs in • Problem resolution • New features deployment • Maintenance • Operational complexity

  8. Adoption of Web Services Consumer Producer XML HTTP

  9. Leveling Technologies Web Services Web Servers Application Servers Java, .Net, Cobol UDDI XML WSDL HTTP SOAP TCP/IP XMLSchema Databases MVS, Unix, Microsoft Storage

  10. Resource Virtualization Ubiquitous Use Community Use TCP/IP Single Use Quality, economies of scale Storage Area Networks Time

  11. Goals on standards • Simplify • We stopped inventing them internally • Integrate • Adoption of more products • Allows us to lead with our customers • Implement features faster

  12. 7 Themes • Identity centric applications • Applications tolerant to change • Service Oriented Architectures (SOA) • Enterprise information • Intelligent networks • Virtual computing platform • Security simplification

  13. 7 Standards • Liberty, WS-Federation, SAML • Java, .Net, Cobol, • XML-Schema, SOAP, WSDL • FIX, SWIFT, HRXML • UDDI, Messaging, SOAP, IPV6 • OGSA, WS-Resource Framework • ISO 17799, WS-Security, 802.1x

  14. What’s needed • Higher level services • Collaboration • Content Management • Portals (JSR 168, WSRP) • Document management • Simpler data standards • Industry specific (FIX, SWIFT, etc.) • Other extreme they are too general • Digital rights management • Fewer competing standards

  15. Conclusion • Keep it simple • Standards are for your customers • Don’t take away the creativity of the developer • Come to consensuses quickly • Bake them into products & open source • Keep it simple 372470 Fidelity Distributors Corporation, 82 Devonshire Street, Boston, MA 02109

More Related