Technological innovation for the financial world

Abstract

The objective of this project is to study the technical viability of a computerized structure capable of meeting all the storage and processing requirements of the corporate information of a financial institution, in a single, integrated form. Furthermore, this structure should serve as an embryonic tool for undertaking the re-engineering of the institution’s business processes. The requirements for the success of a company’s strategic plan are effected only if the systems that support their businesses are able to make fast changes, with real-time access. Consequently, it is necessary to re-think information technology solutions in such a way as to converge and support all of the business processes (flexible and adaptable) and the information technology needs of the company. For this to occur, a model of an integrated system must be built, with the following prerequisites: integration in a single system of all of the institution’s data and business processes; total portability between various client/server platforms; easy scalability of applications between few or many users; inter-operability between the diverse open standards of the information technology market; the possibility for the extension of the model for the inclusion of new types of complex data and new products; offers the possibility of gradual migration from the institution’s existing systems; minimizes costs; offers a user friendly graphic interface capable of manipulating and bringing on screen complex data; establishes a technology plan for the financial institution for the next decade. (AU)