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Financial Services Integration – Faster, Cheaper, Better Examples From the Real World

Financial Services Integration – Faster, Cheaper, Better Examples From the Real World. Presented by: David McDougall President, VisionMAX. Do these challenges sound familiar to you?. Reducing distribution and routing costs. Reducing cost.

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Financial Services Integration – Faster, Cheaper, Better Examples From the Real World

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  1. Financial Services Integration – Faster, Cheaper, BetterExamples From the Real World Presented by:David McDougallPresident, VisionMAX

  2. Do these challenges sound familiar to you? Reducing distribution and routing costs Reducing cost Complying with increased security and regulatory demands Lowering operational risks Making it easier and less costly to get into new channels and new businesses Providing better access to information

  3. Addressing Top Business and IT Priorities Top business priorities “More than 80% of CEOs see unpredictable market forces as the key inhibitor to growth.” Streamline or optimize business processes Boost worker productivity across company Improve customer service 85% 85% Source: IBM’s Global CEO Survey, February 2004 84% • Economic volatility and globalization • Increasing consolidation across industries • Increasing regulations and industry standards • Technical realities Top IT priorities Application Integration BI/Data warehouse Security 48% 42% 42% Sources: Outlook 2004: Priorities 1Q InformationWeek Research, January 2004;Merrill Lynch CIO Survey Results, September 2004

  4. Responding More Effectively to Changing Market Conditions “Four out of five CEOs are focusing on revenue growth for the next three years while maintaining a tight control over costs.” • 75% of CEOs place a high or very high priority on the ability to respond rapidly • Only 1 in 10 CEOs believe that their organization has the ability to be very responsive to react to changing market conditions • CEOs recognize the need to establish effective, real-time response capabilities • CEOs are aware of the power of IT and the weaknesses that result from lagging behind Source: IBM’s Global CEO Survey, February 2004

  5. Particular Issues for Financial Services • Very Competitive Market • Customers demand multi-channel access • Multiple, complex legacy systems • Reliable, secure infrastructure

  6. More flexible architecture Integration to existing applications Tech points of pain Data integration Business process implementation Enterprise portal initiatives Custom application development Composite applications More effective integration with business partners Business pointsof pain Customer service initiatives Employee self service Streamlined supply chain More effective use of external service providers Global sourcing Q: What are the critical business or IT problems your company hopes to address using SOA? Base: 261 respondents (those personally involved with SOA in their company) Source – BEA sponsored research with InfoWorld Pain Points for Service Oriented Architecture

  7. How Companies are Solving The Problem • Flexible architecture • Service Oriented Architecture • Applications that adapt to changing needs – modular, “throw-away” • Integrate disparate data sources • Support delivery through multiple channels Do it Faster, Cheaper and Better!

  8. Examples From the Real World- ServiceOntario (OBC) Government losing revenue because businesses were not registering owing to onerous process. -weeks to process registration through manual, rules-based, system Problem Solution Leveraged VisionMAX technology to automate business rules, integrate systems, and produce web interface. Results Reduced registration time from 6 weeks to 20 minutes. Reduced lost revenue, ensuring stable tax base Increased business satisfaction

  9. Examples From the Real World- ServiceOntario (OBC)

  10. Examples From the Real World- MTCU/PIB Inefficient Private Career College Registration resulting in lengthy delays, frustrated public and “customers”. Little budget to effect improvement in desired short timeframe. Problem Solution Applied VisionMAX VISION Engine to produce new Registration system (RICC) fully integrated with external systems. Results Developed system in only 4 months at a fraction of cost of competitive solutions. Reduced registration cycle from 2 months to 2 weeks and improved College and public satisfaction.

  11. Examples From the Real World- MTCU/PIB

  12. Examples From the Real World- Bell ExpressVu Needed to upgrade technology for ALL satellite TV subscribers in Canada. Manual process that would require support. Needed to automate support and integrate with back-end systems. Problem Solution VisionMAX provided technology with voice-enabled interface to interact with customers and execute back-end transactions. Results Process 1.2million transactions/day without need for support. Increased renewal rates, revenues, and implemented upgrade on-time and on-budget. “Most successful project” recognition.

  13. Examples From the Real World- Bell ExpressVu

  14. Examples From the Real World- Other… • MGS (ServiceOntario) • Sprint USA • Toronto Police Service • And many more…

  15. How VisionMAX has Helped These Companies… • An IT Services company with more than 7 years experience with these solutions • Experienced with Enterprise-scale Application issues • Specialize in Custom Development, Systems Integration and eService Delivery via: VISION Engine

  16. eServices Examples Any automated dialogue with your “customers” • Claim Submission/Tracking • Customer Self-Service • Fee-Based Transactions Registration & Licensing • Support Centre / Help Desk • Expert “Sales Agent”

  17. VISION Engine • A Platform developed by VisionMAX over time to: Simplify and Accelerate the Delivery of Business Services

  18. VISION Engine Value • Flexible Architecture- build once, deploy to any device • Proven Platform- in use today delivering value • Fast Time to Deliver- get benefits sooner • Easy to Use & Build- no new skills

  19. What is it? • Interfaces • Web-based • Wireless • Data • Voice • Logic Engine • Business Rules • Data rules • Flow • Integration • Any Data • Any process

  20. Features • Graphical Screen Flow Tool • Dynamic Rules Engine • Open Standards Based • Powerful Reporting • Role Based Security • Transaction Integrity • Flexible Integration

  21. Want to See More?Visit Our Booth and Enter Draw for iPod www.visionmax.com

  22. Presentation Title: Presented By:

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