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Guojun computer: Revelation of it concept development of overseas banks

Time : 06/04/2022 Author : ae6mtj Click : + -
        Preface: domestic banks all have canteens. The canteen mode is either self built or outsourced, but the menu has always been decided by the leaders of the bank. Most overseas banks order takeout, and in order to meet the tastes of different employees, the form of takeout is prefabricated semi-finished products. Will domestic banks go on the road of eating takeout, or will they give up because they are worried about food safety?. Under the traditional framework, the bank's IT construction is facing two difficulties, internal and external. Transformation is an urgent need for the survival and development of banks. Externally, Internet companies compete across borders, occupying traffic entrances in mobile payments, lending services and other fields. It is difficult to build banking channels, and retail business has been greatly eroded.
        And the emergence of ecological and diversified financial services has given birth to massive users, massive data and highly concurrent business scenarios. The core system of centralized architecture is a huge single application, which is complex in upgrading and iteration, and it is difficult to meet the needs of rapid business innovation in the Internet era. Internally, banks divide it systems according to departments, business lines and other dimensions, and each system is relatively independent, resulting in "shaft" development, chimneys and other problems. In terms of personnel organization, it is also managed by departments. There are serious rights and responsibilities barriers between departments, and it is difficult to provide combined services across departments and systems. In view of the two difficulties, banks need to upgrade their architectures in both hardware and software directions.
        Throughout the 40 year history of it development in China's banks, it has roughly experienced three changes: decentralized architecture, centralized architecture, and then distributed + centralized dual core architecture. In the 1980s, banks began to introduce host systems. At this time, the business systems built were highly decentralized and extremely inefficient. Each prefecture level city has its own business system, and their businesses cannot be connected with each other. A cross regional remittance needs multi-level clearing. The process is as follows: a city's network &mdash& mdash; Municipal Branch &mdash& mdash; Provincial branches &mdash& mdash; Head office &mdash& mdash; Target provincial branch &mdash& mdash; Municipal Branch &mdash& mdash; Outlets, but now it is real-time transfer, zero level clearing, second level arrival.
        In the late 1990s, with the improvement of computer performance and the development of network, banks' demand for data centralization became stronger and stronger, and the large-scale centralized architecture began. Around 2010, the distributed architecture gradually entered the mainstream vision, and the centralized and distributed architecture has become the main development direction of bank it in China. The centralized system based on IBM mainframe is still the mainstream, but its disadvantages are becoming obvious. Centralized architecture is to centralize the required data in a central node composed of one or more host computers, share the same set of computing and storage resources, and meet the needs of continuous business development by improving the performance of a single server. At present, China's large state-owned commercial banks generally adopt the centralized architecture controlled by overseas manufacturers such as "IOE". This architecture is based on IBM's large institutions and has the characteristics of centralization, exclusivity and closure. Banks also need to invest high operation and maintenance costs every year, with rigid structure and low sex price ratio.
        The business processing of the distributed architecture is scattered on multiple nodes, which cooperate with each other to provide services. The distributed architecture makes the system hierarchical and fine-grained, and then packages it into independent small applications according to business functions, module design, etc. each small application acts as an independent deployment unit, and the separated small applications can complete cross application calls through remote requests or shared service components. The architecture adopts relatively decentralized small and medium-sized servers to achieve high cohesion and low coupling, and has the characteristics of strong scalability, high processing efficiency and strong fault tolerance. In addition, it is also the supporting technology of big data, machine learning, artificial intelligence and blockchain, which has laid the foundation for the further development of bank it.
        The two architectures have their own advantages, and the current trend is the integration of dual architectures. The centralized architecture can ensure the security, real-time and transaction consistency of bank capital accounts; The distributed architecture can provide highly scalable and changeable services to a large number of small and Micro customers who are widely distributed. In the process of building bank it system, Chinese banks tend to transform to an architecture system that organically integrates centralized and distributed architecture. That is, adhere to the centralized road for the core business of the bank, and adopt a distributed architecture for the non core business with a large amount of data facing the Internet, such as data analysis, internal management, big data credit investigation, etc. The concept of middle office banking originated from the Internet.
        The concept of Zhongtai was first proposed by Alibaba. It is an organization or platform for enterprises to share capabilities and data. Bank middle office is not only a concept, but also a process of rapid assembly. Its essence is to assemble the bank's products, processes, risk control, etc. in multiple dimensions and put them on the channel, turn them into commodities and sell them to target customers. In this way, new products can be launched to the market quickly without coding. The bank middle office is divided into business middle office and data middle office, which complement each other. The business platform carries all the core businesses of the bank, precipitates the businesses scattered in different channels and scenarios, and realizes capacity reuse and process integration. The data center is the center of data collection, processing and analysis. Using unified standards, it realizes the unified management of cross department and multi business system data, forms the working environment of data management, and produces standard data results for extensive business innovation. It is an effective scheme to realize the agile business capability of all channels and all links.
        Most of the data in the data center comes from the business center. After processing, it returns to the business center to provide data services for the foreground, or directly provides API data services for the foreground applications in the form of data applications. The two complement each other. The dual platform model supports the integration of business, data and processes, and is an indispensable part of the bank's digital transformation. First of all, the construction of bank it system started early, with a large amount of historical data and a large amount of online data, but the data quality is very poor. The standard data model can not adapt to the rapidly changing business needs, and a large amount of data has become a burden on the operation of the banking system. In addition, under the situation of strong supervision and unified risk control, the requirements for the service ability and operation ability of it facilities are becoming higher and higher.
        The integration of business, data and processes between the two platforms can eliminate the data islands between the core business chains of different business segments, get rid of the constraints of the chimney structure, and help the digital transformation of banks. Distributed architecture is the implementation form of cloud computing, which is an extension of traditional distribution. From centralized to distributed architecture, it is oriented to computing tasks; And with local computing to cloud computing, it is more user-oriented. Centralized architecture deploys resources on local servers, while distributed deployment is on the cloud. Cloud refers to a platform that provides resources. The essence of cloud is to access resources on demand and pay as you go, which greatly improves flexibility. In view of the current situation of data blowout and exponential increase in access volume, distributed architecture is the most satisfactory architecture for a qualified cloud platform; At the same time, cloud computing improves the manageability, user friendliness and elasticity of traditional distribution, which is an extension of distributed application-oriented.
        The core banking system into the cloud is the general trend, and the more lightweight cloud native is emerging. According to the data of China Academy of information and communications, at present, 41.18% of financial institutions in China have applied cloud computing, and 46.80% of financial institutions plan to apply cloud computing, accounting for 87.98%. Cloud concepts and technologies represented by IAAs, PAAS, SaaS and microservices have become the general trend of Bank it. Further, the cloud native architecture, defined by the white paper on cloud native architecture as "a set of architectural principles and design patterns based on cloud native technology, maximizes the stripping of non business code in cloud applications, interrupts non functional business troubles, and has the characteristics of lightweight, agile and highly automated", is gradually applied to bank it practice.
        Overseas fintech companies have been practicing at the forefront of bank it architecture. The following four bank IT companies rely on cloud nativity, and with the help of artificial intelligence and big data technology that have risen in the past decade, they have changed the IT architecture and service mode of financial institutions to a certain extent, providing a lot of reference experience for the transformation and upgrading of domestic bank it. The financial technology Unicorn mambu has been established for ten years and has completed six rounds of financing. Mambu was founded in Germany in 2011 to provide a cloud banking platform for financial institutions to quickly create and launch loan and deposit products, reducing the cost and complexity of traditional core banking systems or internal customized solutions.
        Mambu initially served retail banks, online loan platforms and microfinance institutions in Europe, and began to set foot in the Asia Pacific region in December 2016. Ten years after its establishment, the company has served 43million end users, empowered 6000+ deposit and loan products, and covered more than 160 customers in more than 50 countries / regions, including n26 (German virtual bank), oaknorth (London emerging digital bank, Europe's most valuable financial technology Unicorn) and other well-known institutions. By the end of January 2021, mambu had completed six rounds of financing, with a cumulative financing amount of nearly $200 million and a platform valuation of more than $2.1 billion.
        The team superimposes technology genes and service concepts, focusing on the financial cloud platform. Eugenedanilkis, the founder, has a degree in human-computer interaction and computer science, once worked in NASA, has rich experience in computer science and technology, and has a number of senior experts in the field of technology in his team; The chief customer officer has been deeply involved in the financial technology industry for 20 years and adheres to the customer-centric service mode. In the company's employment positions, technology + sales are close to 70%, and the superposition of the two constitutes a good development foundation for mambu. At the beginning of its establishment, mambu positioned itself as a SaaS platform focusing on providing light services and a lean substitute for the cumbersome core banking system. It developed a special financial cloud platform using cloud service AWS to provide fast and flexible technical support for the core banking system for small and medium-sized financial institutions in the form of API.
        Mambu cloud platform has a wide range of business lines. Now it has expanded from small loans to technical support covering the vast majority of bank core businesses such as loans, deposits and transfers. It also provides institutions with module functions such as process and risk control, task and accounting processing, interactive UI interface design, as well as special consulting, training and professional services. Financial institutions can design their own business processes and approval processes, and the system supports the automatic generation of business reports, personnel performance reports, etc. The customer group adopts the strategy of single point entry and then outward expansion. Major customers tend to have low risk appetite and high customization level. Most of them were still using traditional core systems before 2015.
        As a small and beautiful it supplier, mambu chose a single point of entry to provide microfinance technical support to small, medium-sized and micro enterprise financial lending institutions to verify its own strength. Today, ten years later, the application of cloud by large financial institutions is growing steadily, and the trend in the future is to go to the cloud in an all-round way. Therefore, mambu's customer base is gradually moving closer to financial technology unicorns with strong profitability and top banks with strong payment ability. Typical customers include oaknorth (London digital bank) and ABNAMRO (Bank of the Netherlands). Fully standardized SaaS has two pain points. If the traditional core system is that each enterprise has to dig a well to use water, then SaaS is centralized water supply and pay according to the quantity, which greatly reduces the marginal cost.
        But standardization brings a problem: what if each family wants to drink different flavors of water? Therefore, how to adapt SaaS to the personalized needs of enterprises is the first pain point. In addition, enterprises use many different cloud services at the same time, and data and business are inevitably decentralized. How SaaS manufacturers solve multi platform connectivity is the second pain point. Mambu's cloud native composable banking architecture perfectly solves the above problems. What is a composable banking architecture? The traditional core banking platform locks users in a single core banking stack with hard coding integration. The coupling of platform code and tenant code is relatively tight, and it cannot adapt to changes.
        The composable architecture can be composed of multiple modules and services. For each service, no matter how complex it is internally, the open interface only focuses on one thing. These services are loosely coupled. Like the pipeline of Linux, they are flexibly combined and have the ability to change the platform at any time according to needs. Composable bank is a platform for rapid deployment and delivery of financial services using pure SaaS technology on the basis of flexible and convenient assembly of independent and cooperative systems. Cloud native banking engine is the core. Cloud native is to solve the problems encountered by enterprises in the whole life cycle of development, integration and so on by using the characteristics of cloud computing, such as elasticity, agility, resource pooling and servitization. The goal is to deliver software products to users flexibly and nimbly according to their needs.
        The technical value of application development based on cloud native technology can significantly reduce the cost of enterprise IT development and operation and maintenance, so as to improve the efficiency and value of enterprise business. The banking engine is a central module for creating and deploying financial products (such as loan product creation). Through it, dynamic product modeling is carried out in composable banks to create products that meet the precise requirements of customers. Among them, lendingengine can provide services throughout the whole life cycle of credit through comprehensive credit risk assessment, and depositsengine helps users start current deposit accounts, overdrafts and savings plans, and provides related services.
        The process choreographer is located at the top of the composable architecture, coordinating and integrating various components, and is the base of workflow design. Mambuprocessorchestrator (MPO), launched in 2018, is an API driven alternative to traditional business process management systems. This scalable high-performance platform is built around mambu's core banking engine and acts as an intermediate layer between different systems. MPO integrates different SAAS and internal applications in the form of low code to create products and functions for customers. All organizational programs, processes and controls are modeled in MPO. Processes can be created, debugged and run using drag and drop user interfaces, and data can be pulled, processed and pushed through APIs.
        MPO also comes with a sandbox environment for testing processes and workflows in a non production environment. OpenAPI open platform is used as the interface to build the bank IT manufacturer ecosystem. With its core banking engine as the center, mambu brings together technology providers that can enable financial institutions to build a composable architecture, and provides programmable open API interfaces for integrating various services required by the ecosystem. It includes connecting the ATM system to obtain the offline cash deposit and withdrawal function, connecting the payment company to obtain the online payment function, and connecting the credit bureau to obtain the personal or corporate credit report. All manufacturers build a unified partner ecosystem like building blocks.
        Mambu also launched "marketplace", an "app store" that provides third-party fintech solutions, which can help financial institutions find potential partners and provide more display opportunities for fintech companies cooperating with mambu. For pain point 1, mambu has the advantages of easy configuration and integration. In the low code environment, almost all enterprises can become bank service providers. Mambu's WYSIWYG operation interface enables customers to complete the configuration according to the needs of business changes through only a few lines of code, and they can also seek the help of customer service personnel halfway. In this way, it is equivalent to having the definable ability of PAAS, which makes up for the lack of personalized ability of SaaS.
        At the same time, API driven and composable
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