Technological changes come faster and faster, generating more sophisticated requirements all the time. This applies in everyday life (just think of mobile phones, from ordinary calls to videocalls, messaging, smartphones, and so on; or television, with HDTV, interactive services, 3D, &c.). And it applies even more in banking services, where the user demands ever greater speed and flexibility, all with multi-channel contact options. Requirements for transactions on the move, micro-payments, advanced warning services, big payments for corporate customers, etc. – all are intensifying as a result.
Recent research has shown that most European banks use core banking systems designed in the 1980s. Back then, there was no way designers could expect or cater for the thorough-going changes that have happened since: first the spread of Internet use and then mobile culture; international company mergers; the need for innovative H24-7X7 services; or the widespread adoption of easy–safe–cheap technologies in hardware and software.
One common tendency has been to respond to these needs by bolting sophistication onto existing systems that were often rigid and sometimes already obsolete; the downside was a risk of complication operations, creating parallel “silo” applications – with the result that operating costs took off exponentially.
VT Finance offers a chance to take a radically different approach, with solutions based on the VTPie payment platform that has been designed from the ground up using SOA (Service-Oriented Architecture), with intensive re-use of its 100% Java modules (J2EE). A philosophy of this kind naturally evolves in the direction of high performance and the ability to handle heavy transaction throughput by leveraging Grid Computing* techniques and distributed payment services – highly competitive in terms of quality and price – through the Cloud Computing** model. This approach differs profoundly from conventional outsourcing: it offers truly scalable architecture, whose infrastructure can be sized on the basis of the capacity needed by actual rather than peak traffic. This has an impact on the pricing for these services, making them more competitive and suitable for pay-per-use models.
To find out more, just remember that on 25 May 2010 VT Finance will be taking part in an event dedicated to Cloud Computing: “CloudCamp Italia: ready for the second challenge?“
Recent research has shown that most European banks use core banking systems designed in the 1980s. Back then, there was no way designers could expect or cater for the thorough-going changes that have happened since: first the spread of Internet use and then mobile culture; international company mergers; the need for innovative H24-7X7 services; or the widespread adoption of easy–safe–cheap technologies in hardware and software.
One common tendency has been to respond to these needs by bolting sophistication onto existing systems that were often rigid and sometimes already obsolete; the downside was a risk of complication operations, creating parallel “silo” applications – with the result that operating costs took off exponentially.
VT Finance offers a chance to take a radically different approach, with solutions based on the VTPie payment platform that has been designed from the ground up using SOA (Service-Oriented Architecture), with intensive re-use of its 100% Java modules (J2EE). A philosophy of this kind naturally evolves in the direction of high performance and the ability to handle heavy transaction throughput by leveraging Grid Computing* techniques and distributed payment services – highly competitive in terms of quality and price – through the Cloud Computing** model. This approach differs profoundly from conventional outsourcing: it offers truly scalable architecture, whose infrastructure can be sized on the basis of the capacity needed by actual rather than peak traffic. This has an impact on the pricing for these services, making them more competitive and suitable for pay-per-use models.
To find out more, just remember that on 25 May 2010 VT Finance will be taking part in an event dedicated to Cloud Computing: “CloudCamp Italia: ready for the second challenge?“