Banks are grappling with the task of renovating older payments systems in response to competitive, regulatory and cost pressures. Many payments systems are siloed, running on multiple platforms from different vendors, each with unique data types, interfaces and message routing capabilities. In addition, many payments functions are deployed redundantly across multiple systems, creating unnecessary costs for banks as they maintain duplicate capabilities. As a result, application development and data integration is more complex, time-consuming and expensive than ever before.
IBM's Enterprise Payments Platform, based on industry-leading WebSphere and DB2 software and services, addresses these pain points and simplifies payment systems by providing banks with a single platform to integrate new and existing payments systems regardless of where they reside. With SOA, the new platform allows other banking applications to leverage componentized payment services in support of multiple lines of business. For example, banks can now purchase or develop one service to handle identity verification requirements and reuse it elsewhere to respond faster to changing regulatory requirements.
