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iBanker-
iiBanker is a facilitator for banks to introduce Internet banking. It is an e-financial solution offering front-end and back-end software platforms to function in a multi-branch environment with Internet as the connectivity medium.
IBanker affords a bank customer opting for Internet banking service:
1. account details view ability
2. two-way communication with bank branches
3. requisition, fund transaction/transfer and standing instructions
4. electronic bill payment facility
5. capital market transaction facility
The system is fully scalable to offer facilities like ATM and mobile banking.
A corporate client of the bank can have facilities such as:
1. LC/LG/ bills tracking
2. Multi-currency accounts/entity information system
3. Cash management system
4. Corporate personalization system
5. Interface with payment gateways
iBanker incorporates functionalities for the banks such as:
1. generation of asset liability management reports
2. consolidation of data from branches, regions and zones
3. generation of reports in conformity with RBI norms.
iBanker is developed using platform independent technologies putting in more than 70 man-years of efforts. It has versatile. It has versatile adaptability features, fully supports Internet protocols and network platforms and freely integrates with any total banking applications used by a bank. Its hardware and server requirements are standard, while it takes minimum time for implementation and commissioning.
iBanker is a total Internet banking system,.
We take great pleasure in introducing iBanker to you
The various components of an e-financial services architecture, present in iBanker are:
1. Components to deliver and accept financial transactions via various delivery channels: these are Internet browsers, e-mail kiosks, cell phones, personal digital assistants, corporate applications, etc.
2. Components to integrate data from various data sources and applications present in a bank: Such integration should be in real time once the extraction logic is defined. In addition, data access components for well known applications or data sources must be predefined.
3. Funds and message routing: Components that deliver messages and transactions to delivery channels on one side and the bank applications on the other, securely and reliably, ensuring message and transaction integrity.
4. Business application components, which form the core of the e-financial services backbone: These components use the services of the integrators, message routers, interfacing toolkits, etc. and create the business logic for ensuring complete e-business. These business application components need to be created by calling the services of the other components of iBanker. These business logic components are similar to the components such as invoices or POs found in a ERP system. Thus the business application components are like ERP of an e-business.
5. Graphical application modeler, scripter and content management system: tools from which business components are created, New business application components are created from existing ones by graphically linking them and inserting via a scripter.
6. Extraprise objects: Specific business components, which are the interaction agents for integrating the software of the e-financial services backbone to software backbones of other companies. For example, a bank could link its software to that a stockbroker to enable Internet trading of shares.
7. Logging and back-end administration module: The SNMP of the e-financial services infrastructure. If is responsible for logging, audit trails, performance monitoring, customer service statistics, etc. Besides, it is also used to set alerts and triggers, should any parameter hits a danger level.
1. Components to deliver and accept financial information and transactions via various delivery channels
Financial delivery channels are a very dynamic field. The Internet has unleashed a revolutionary set of changes in the delivery channels of a financial services house. It has not only changed the way we look at financial delivery channels, but has made the concept of delivery channel unification important. Hence, a separate set of components dedicated to the aspect of delivery channels and its integration with the core banking solution and other financial product applications has been developed. By having an integrator in the form of business components and a message routing system, delivery channels can be easily added on to the e-financial services system without having to bother about integration. The advantages of such architecture are.
1. unification of channels
2. better control and integration
3. faster time to market as readymade adapters for various channels
4. cross-selling opportunities as information between various delivery channels can be shared.
Currently the following delivery channel adapters are ready:
1. Internet browser—HTML
2. OFXIXMUL/ISO 8583 – financial message semantic standards, which allow corporate and personal productivity applications to become delivery channels for the e-financial services system. For example, in case a customer is using an services system via such application.
3. Mobile phones—SMS available, WAP is under development
4. Touch-screen kiosks
5. Remote customer login
Following delivery channels are under beta or are being developed;
1. P.DAs
2. ATM Screens
3. Voice
Screenshot of a browser based delivery channel
<?xml version="1.0"?>
<TRANSLIST>
<ITEM ITEMTYPE = "PAYMENT">
<CODE>16-048</CODE>
<COMPANY>
<SIGNATORY>
<FIRST_NAME>RAMESH</FIRST_NAME>
<LAST_NAME>GHATKAR</LAST_NAME>
</SIGNATORY>
</COPMANY>
<AMOUNT>37265</AMOUNT>
</ITEM>
</TRANSLIST>
Sample output of a XML based delivery channel.
2. Components to integrate various data sources and applications in bank with the e-financial services system
Banking computerization has been an ongoing process and newer technologies have evolved at a furious pace. Banks have been increasing their portfolio of financial services quickly. This has resulted in islands of information in different branches and departments. With the Internet, it is easy to use the e-financial services backbone to integrate these various sources of data. Such integration can have the following advantages:
1. Faster service to customers
2. Better business intelligence resulting in higher profitability
3. Integration of various information sources to provide radically different electronic financial products to customers.
It has been demonstrated that simple data extraction and loading programs are not sufficient to support such sophisticated integration. It is in the context that special data extraction software called Info? Ackets has been developed. "Its advantages are:
1. It converts extracted data into logical business objects. Such extraction can be done graphically.
2. It has an integrated information center for managing and creating such data extraction objects. Similarly. It also helps in deployment of such objects to various branches and systems.
3. It has routines to combine such object creation of process is defined, it is done without any manual effort in real-time
4. Once extraction and object creation of process is defined, it is done without any manual effort in real-time.
5. Extracted objects can be reused for other purpose
Info Packing thus make data extraction and integration process very productive. This, combined with the business logic components, give a truly flexible and extensible e-financial services infrastructure.
3. Funds and message routing components
In any software backbone, system level routines are required. These routines act like an low-level engine controlling the various aspects of an e-financial services infrastructure. This system is similar to a funds switch such as Base24. However, this component has been built with the following things in mind:
1. An e-financial services requires a very flexible message and transaction routing system.
2. Such transaction and message routing system should be based on contemporary Internet standards such as XML and HTTP
3. It should be able to support diverse systems.
4. It should be able to interface with an existing funds switch if required
5. It should support flexible messaging standards
iBanker transaction and message routing system has been developed using Microsoft's COM technology. Such a system can be used for.
1. Internet payments and funds transfer
2. Anywhere banking
3. Inter-branch or Inter-bank funds transfer
4. Complete straight through processing
5. Trade settlement and reconciliation
Sample network diagram of funds switching in case of internet payments
4. Business application components
Business application components form the core of an e-financial services infrastructure system. They utilize the services of the delivery channel integrator the back-end data source integrator and the funds and message switch to create applications, which form the brain of an e-financial services infrastructure. Since the business application components of iBanker have been developed using Microsoft's COM technology they are easily extensible and can be aggregated and changed to form new components. Business logic components developed are:
1. Statement extraction and viewing
2. Customer information objects which unify data about customers from different systems
3. Funds transfer objects
4. Bill presentment and payment objects
5. Demand account viewing objects
6. Auto reconciliation objects
7. Correspondence, requisitions and standing instructions objects
8. Internet cash management objects
9. Forex objects
10. Security objects
11. Database query objects
12. Access control list and authentication objects
More and more business objects are under development to encompass the entire gamut of e-financial services. Wherever it is unable to provide business objects, third party vendors have been engaged to write them.
5. Graphical modeler, scripter and content management system
Business logic components need to be customized for banks due to the individual nature of services offered by the bank. Also there exists a need for personalization and content management as the e-financial services site grows larger as more customers start using it .For the customers to easily create new business logic components. ibanker has a comprehensive object repository combined with a graphical modeler and scripter. All business objects have their own functions, which can be called by the scripter to develop newer business objects. Besides, the graphical modeler allows creation of complex component interaction in order to offer more services to the customer.
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