The banking 3.0 standard

Few banks will be able to go back to the drawing board and redraw their complete IT infrastructure and delivery capability. Many banks are willing to embrace this paradigm shift but have great difficulty finding the right IT systems to implement a new strategy.

For those banks, new entrants and incumbents, Five Degrees offers a hybrid evolutionary approach. Key is that these banks have opted to place the customer at the core of their business and processes. This 3.0 customer lives in a new paradigm and is no longer an actor at the end of a channel, supported by silo solutions pushed to him/her by the bank, as is the case today, but an active participant in his banking business.

Banking 3.0 is a new reality where the customer, with the support of services and tools of the bank, reaches out to the bank to interact in his real (bank branch), virtual (mobile, e-banking) and social (wallets, Facebook) space. Banking moves from a pure transactional activity to an engaged experience. The Matrix platform offers an agile customer centric architecture that supports banking operations in a future proof manner, ready for the bank 3.0 paradigm where real, virtual and social meet. As such Matrix can be seen as the beating heart of the bank architecture and directs all data to the right gate, controls all processes, keeps track of what is going around within the bank and efficiently stores all relevant information.

 

Matrix Functional Architecture

 Matrix Architecture

 

Matrix was designed with a set of components which would enable banks to operate today at future banking standards:

Reliability

Resilient and high available architecture with horizontal scale on demand combined with a full audit trail for all operations. The security components of Matrix are built to meet the most rigorous standards: a claim based security model with role based access for both employees and clients. The system is audited regularly by certified security companies to ensure all new changes are being properly harnessed and secured.

Automation

Our premise is very simple: automate any eligible process and when automation is complete make sure that all tasks within the bank which require manual intervention get a fully controlled workflow which guides employees and customers through a ‘first time right’ path. Operate the bank fully compliant and with measurable and relevant operational reports of any defined process.

Connectivity

Connectivity is not an option; it is a defining two-way element of Matrix. The system offers a best in class service layer and integration services which make sure all outgoing traffic and incoming messages are delivered reliably and in standard formats. Interfacing is a ‘top level sport’ for Matrix as it plays a crucial part in the automation of banks’ processes.

Robustness

Equipped with retry mechanisms and idempotence operations within the service layer, the system actively prevents any data loss or inconsistencies which might occur between mission-critical operations. Many of the bank specific processes Matrix runs can take up to weeks to complete and it’s vital to make sure all effective systems are fully aligned and up to date on any changed status within the process.