Abstract
Service-oriented architecture was the hottest topic in 2006 from both a Fintech
provider and an industry perspective. SOA has become a beacon of hope, the
magic ingredient to overcoming integration issues and the disconnect between
business and IT requirements. Rachel Hunt, European Banking research manager,
explains the hype around SOAs, but more importantly the possible pitfalls for
banking institutions:
"The benefits of SOA will be achieved only through a systematic approach to
governance and business life-cycle management and institutions must avoid
siloed entities of SOA within the organization."
This new Financial Insights report also offers survey-based results for SOA
adoption in banks as well as the key issues that banks are trying to resolve.
"Ultimately, the true promise of SOAs is enabling institutions to connect their
internal systems to that of their customers, partners and channels in order to
seamlessly integrate with their workflow. And what a promise that is," said
Hunt.
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