- The banking industry is innovating at an
unprecedented pace,
and born in the cloud digital disruptors
are encroaching on the market,
but it can be disruptive and expensive to implement
new digital platforms.
I'm Katharine Harrison product manager at IBM.
We're going to take a look at how IBM Cloud Paks
and IBM Financial Services Work Bench
can help banks speed modernization by adding intelligent,
integrated automation to the loan decisioning process
and by developing composable banking solutions.
In our example,
the CIO of fictitious Vaulchsprey bank needs to scale,
reduce costs
and deliver technology that can speed up the small
and medium enterprise lending process per her
business requirements to stay competitive.
To accomplish this,
she needs to create business capabilities that are
independent of a dedicated channel
and platform architecture.
So she asks Michael, the lead IT architect,
to establish the standards for this new use case.
Michael explores IBM financial services
work bench, a solution development and composition suite
designed to accelerate development of modern cloud
native solutions.
IBM Financial Services Work Bench,
let's the team compose business solutions
rather than code them.
It does this by the reuse of the inclusion of third-party
or the creation of new domain services.
The freedom to compose solutions protects past investments
in existing business capabilities.
It enables best of breed solutions,
and it allows phased modernization of existing applications.
Developing cloud native is exciting,
but the relevant skills can be scarce
or committed to other projects.
Michael starts with a solution designer
and creates a low code project
supporting the domain-driven design approach.
This allows them to directly map artifacts like aggregates,
command, services
or events within the collaborative design tool
and to have his business logic implemented in a
low code way.
Thanks to cogeneration support,
The developers can focus on business logic and deliver the
required set of microservices with enterprise grade quality
in the very first iteration.
Instead of independently deploying individual services,
Michael wants to establish consistency and standardization
from the beginning.
IBM financial services workbench offers an operating model
for building cloud native solutions with a set of best
practices that unifies get deployment management
and monitoring.
All Michael needs to do is create a new application
composition project in IBM financial services workbench.
After defining a new deployment target,
Michael adds the previously implemented components by simply
selecting them from the catalog.
Once he is done with the application composition,
as simple commit triggers the deployment to the cluster,
fully audit proof and automated,
thanks to end to end
CIC D pipelines and get workflows applied to both
operations and development.
They now have the backbone for their MVP,
a composition of reusable business capabilities.
Now we see the business process being created in the
business automation workflow in IBM cloud pak for
business automation,
all the new business capabilities are available for direct
consumption in a low code environment.
And the required tasks are easily mapped to roles and teams.
The business users love the integrated experience,
where they can easily interact with the work list
and the composed experience supporting tasks completion
and see all relevant information in one consolidated view.
There is no more searching for information in other systems.
The team now shifts focus to data-driven decision support,
using ODM decision model capabilities,
the customer's contextual information is evaluated against
configurable business thresholds.
Once the new decision automation is integrated into the IBM
Financial Services Work Bench service domain,
the functionality is directly available in all applications.
The team uses app connect and IBM Cloud Pak for integration
to securely connect the existing environment
and various cloud systems
without writing a single line of code,
the new integration flow is then composed into the customer
domain using IBM financial services workbench
to get both recommendations and reliable decisions,
The team now augments the rules-based loan approval
decisioning model with a predictive machine learning model.
MENA the data scientist,
uses IBM cloud Pak for datas auto AI
capability to develop and train a predictive machine
learning model to recommend whether a loan should be
approved or declined.
So here's what we've seen,
IBM Financial Services Work Benches'
application composition framework,
maximize reuse ability for Valchsprey banks team by
allowing them to design and build generic service domains
rather than product or channel specific capabilities.
The team delivered their solution ahead of schedule because
all roles could collaborate.
They were able to minimize day two operations expenses
because all the solution components run on one platform
based on Red Hat, Open Shift,
and can be run in any cloud.
They're saving time and money
and reducing risk and disruption because they progressively
converged the management of existing systems with the new
digital platform.
We've used IBM's Cloud Paks and IBM
Financial Services Work Bench to apply intelligent
automation to a process that spans multiple systems
all under a common control plane,
helping lenders set a solid competitive advantage in this
rapidly changing market.