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Financial Services

Cloud Fintech Gateway for Financial Services Firms

InterSystems provides a real-time, bidirectional gateway between cloud-based fintech applications and customers’ production applications and data assets

Overview of Cloud Fintech Gateway

The rate of innovation within the financial services sector has increased dramatically. As traditional financial services organizations attempt to keep pace, they often leverage technology from fintech providers to quickly develop or provision new cloud-based applications.

Empowering financial services organizations to achieve these goals requires that these cloud-native solutions can be swiftly and easily integrated into their existing technology infrastructure.

InterSystems Cloud Fintech Gateway is helping financial services organizations integrate these applications faster and more efficiently by providing seamless, bidirectional real-time integration with their existing legacy applications, production applications, and data sources.

The solution gives financial services organizations the speed, agility, and capabilities needed to quickly incorporate cloud-native fintech applications into their production environments, to help them innovate faster to execute a wide range of business initiatives.

The Challenge

The financial services industry is experiencing rapid change. Evolving client and employee expectations mean that outstanding digital experiences are now expected as standard for both customers and businesses.

Financial services organizations are also coming up against increasing regulatory scrutiny that requires new levels of transparency, accuracy, and resiliency across the enterprise and its systems and data. Organizations are also dealing with significant revenue compression and juggling competing priorities from across the enterprise. Together, these factors are increasing the pressure on financial services organizations to innovate and develop products and services faster while still leveraging their existing development resources.

This requires that financial services organizations be able to easily leverage and provision new fintech services and applications, and to seamlessly integrate their existing production applications and data sources with these applications.

Typically, this has been accomplished via manually coding point-to-point integrations, and moving and copying data, which is cumbersome, slow, prone to errors, and difficult to maintain and extend. These approaches also make it difficult to feed applications with the live, real-time data they require.

The Solution

Diagram of InterSystems Cloud Fintech Gateway Process

The InterSystems Cloud Fintech Gateway enables financial services organizations to implement a dynamic, bidirectional, real-time data gateway that connects and integrates cloud-based fintech applications with existing on-premises and cloud-based applications and data stores faster, at a lower cost, and with a simpler architecture than traditional approaches.

The solution uses a new, innovative architectural approach—a smart data fabric—which provides a complementary and nondisruptive layer that connects and accesses information from legacy systems and applications on demand.

The Cloud Fintech Gateway integrates real-time event and transactional data, along with historical and other data from the large number of different back-end systems in use by financial services organizations, and transforms it into a common, harmonized format to feed cloud fintech applications on demand. It provides bidirectional, real-time, consistent, and secure data sharing between fintech applications and the organization’s production applications; the production data can be on premises, in the cloud,
or hybrid.

The solution can apply transformations, data pipelining, business rules, security, and analytical processing to the data as it’s being requested by the fintech applications. This ensures that the data in the applications is always current and accurate. The connectivity is bidirectional so that any changes made through the fintech applications can be securely reflected back in the production applications.

The Cloud Fintech Gateway enables financial services organizations to accelerate the implementation of cloud-based fintech applications, and experience greater agility and better business outcomes.

Key Benefits of our Cloud Fintech Gateway Solution

Increased Speed to Value
Improves speed to value by enabling financial services organizations to more quickly and easily integrate cloud-based fintech solutions and technology into their existing infrastructures
Enhanced Agility
Enables financial services organizations to react to new opportunities and changes in their environments by making it faster and easier to incorporate the wide range of fintech applications and technologies available in the marketplace
Increased Operational Efficiencies
Eliminates the complexity and inefficiencies of manual integrations and other legacy approaches to integration by leveraging a modern smart data fabric approach
Supports Real-Time Scenarios
Leverages InterSystems IRIS data platform, which is ideal for handling mission-critical, real-time, transactional-analytic use cases at scale

Real-World Example: InterSystems and Unqork

Unqork, an InterSystems partner, provides an application platform that enables enterprise organizations to quickly and seamlessly develop custom cloud-native applications, using zero lines of code. By providing a variety of industry-specific accelerators, firms can leverage Unqork to further speed up the development of custom financial services applications.

One of Unqork’s application frameworks is Digital Operations HQ, a modular solution that empowers organizations to rapidly build and effectively manage a modern digital operations control center.

The solution integrates and optimizes a firm’s entire operations function around three core elements:

  1. an exception hub with centralized error handling and flexible rules
  2. a workflow orchestrator that supports digitizing multi-step processes
  3. a visual aggregation that pulls from internal and third-party sources.

Financial services organizations are leveraging the InterSystems Cloud Fintech Gateway solution with Unqork’s technology to seamlessly connect Digital Operations HQ with their existing applications, real-time transactions and messages, and data silos, without having to manually code point-to-point integrations or copy batch data from the back end to the front end.

The solution leverages InterSystems IRIS data platform and a smart data fabric architecture, a fundamentally new approach to data management.

The combination of Unqork’s no-code development capabilities and application frameworks and the power of InterSystems IRIS data platform enables businesses to innovate and compete with unprecedented speed and agility.

On average, financial services organizations using these technologies see three times faster development cycles, 600-times fewer bugs, and a 65% lower total cost of ownership.

InterSystems IRIS® is the next-generation data management software powering our Cloud Fintech Gateway solution for financial services customers

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