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FOR THE BANK
A unique reference point for the use of financial information
The data from the financial markets are becoming more and more widely used by banks, across a multitude of applications and channels, ranging from branches to online trading; from legacy systems to mobiles. Today, in the majority of cases, banks have many different information providers supplying data and technology infrastructures that need to be managed, often provided by the same organizations. Distributing financial information services not only outside the bank, but also internally demands the use of different systems, each using proprietary technologies and not under the banks’ control. This means that providing a consolidated and aggregated data feed is of particular significance, not only because it is unique and updated in real time but also because of the opportunities that can arise from having this data source available as the banks “own”. Advantages are considerable: from the substantial reduction of recurring costs to no longer being conditioned in the choice of data provider or
data source.
MFI Cast and the other products that make up the Sol-Tec Financial Suite provide the means to: manage financial information to guarantee performance; integrate different information providers; centralize data distribution. In fact, they give the bank the power to integrate disparate platforms by standardising the format of the information and offering an “uncoupling” between how the data are supplied, technically and practically, and how the bank chooses to use them within an application.
For the bank, this implies acquiring total control over all the aspects of projects linked to the supply of financial information in whatever form and by whatever means. Rather than group of products, actually the Sol-Tec Financial Suite becomes a company’s ASSET, guaranteeing that all the “know-how” gained during application development, remains WITHIN THE BANK. This provides the basis for uniform, new services and applications as well as the ability to quickly keep them updated over time.
Therefore, it is possible to add new services, develop new marketing strategies, integrate diverse suppliers of information with internal sources – all this with the guarantee that every variation only needs the time needed by internal development groups to analyse and programme the modifications.
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