Enterprise Architecture in Finance

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Your bank or financial institution has lots of needs: high security for customer data, a shared place for managing key organizational knowledge, and an increased need for online platforms that customers use on the go. How do you get there when you’ve got a handful of old systems that are incompatible with each other, organizational change, and limited time and resources?

You use enterprise architecture software like Orbus.

Today’s financial institutions operate in a fast-paced world that is growing more complex by the day. From New York to Chicago and beyond, modern financial institutions need modern solutions to help them offer better services to their clients, streamline processes and eliminate inefficiencies.

With iServer 365 from Orbus Software, financial service businesses have a set of tools that can provide greater transparency for enterprise architecture while also providing the analysis needed to help stakeholders make smarter decisions concerning digital transformation.

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What is Enterprise Architecture?

In concept, enterprise architecture is an approach to creating a unified view of an organization. A common way to think about this is through the “BDAT” stack: Business, Data, Application and Technology Architectures. These 4 architectures underpin the overall enterprise architecture, which unites them together to provide a holistic overview. However, the purpose of enterprise architecture goes beyond creating a map or blueprint of an organization.

With a clearer understanding of the organization, enterprise architecture helps to organize resources, standardize processes, and document change. With a clear view of the organization, it is easier for an enterprise to achieve its current goals and to plan for the goals of the future.

Enterprise Architecture Essentials for Banking

Digital transformation in banking is a complex process. Financial institutions need powerful tools that can simplify the process while also providing insights that lead to smarter decisions.

 

Integrations
Any solution for enterprise architecture management should be able to connect with and integrate resources from a wide range of systems. These integrations should include things like document management, business intelligence, cloud management, collaboration tools, IT asset management and more.

 

Visualizations
Modern financial service businesses need information presented in a way that is easy to digest. Reporting systems and visualizations offer some of the best solutions for making information more accessible in enterprise architecture. Banking institutions should look for enterprise architecture solutions that can take data and turn it into actionable reports and convenient visualizations.

 

Models
Modeling is essential for helping leaders gain a complete view of an organization. With the right modeling techniques, users can see what is going on at the organization and identify the changes that need to be made. The tools to create organized models based on requirements and to perform impact analysis when considering proposed changes are important parts of enterprise architecture.

 

Transparency
Financial services businesses need the ability to trace models from the beginning requirements through to design and implementation. With a clear view of the organization and traceability, you can make better decisions in the present and look back to see how and why decisions were made in the past.

 

Collaboration
The best solutions to the digital transformation of financial services will come when real users from the business side can share their experience with the professionals working in the IT department. That is why businesses need tools that make it easy for stakeholders from IT and the business side to work together.

 

Security
Information security is one of the highest concerns for modern financial services businesses. Enterprise architecture solutions for banking should ensure data security across the organization’s entire data ecosystem. This is not only important for the private data of the organization but also to protect clients and customers.

 

Support
Businesses in financial services should consider the quality of technical support when selecting enterprise architecture management tools. These businesses can’t afford to have technical issues that go unresolved for an extended period. The level of technical support provided and the quickness with which support professionals respond can be an important factor for enterprise architecture solutions.

 

The Benefits of Enterprise Architecture

Enterprise architecture provides better awareness and control over an organization. The following are some of the ways a banking business can benefit from implementing enterprise architecture solutions:

  • Provides a strategic overview of the organization
  • Cut costs by identifying waste and consolidating resources and processes
  • Increases the ability of an organization to adapt to changes in the market
  • Makes smarter decisions based on data
  • Identifies and eliminates redundant processes and other inefficiencies
  • Improves awareness of relevant technologies that could be beneficial to the organization
  • Frees up time for IT personnel so they can focus on the critical tasks that matter mos
  • Ease the process of organizational change
  • Simplifies ability for all team members, especially non-IT staff, to view and understand enterprise architecture
  • Facilitates collaboration across an organization
  • Optimizes the use of resources at an organization
  • Promotes stronger, more reliable technology infrastructure at an organization

The Advantages of iServer 365 from Orbus Software

With iServer 365, businesses have a leading solution for enterprise architecture management. Our clients can expect the following benefits when they choose iServer 365 as a digital transformation solution.

Bringing Users Together

Our software works with the tools business users already know. This allows users to adapt to the new technology quicker and with greater comfort while also making it easier for everyone to work with enterprise architecture. That means a faster integration and a better collaborative environment.

Simple Integrations

Financial institutions can leverage data from their existing data ecosystem when they work with iServer 365. We offer off-the-shelf, easy integrations with the most common data systems used by businesses today. That means it can be up and running faster and it can save time and effort by automating much of the work that would go into bringing these different sources together manually.

Powers Up and Maximizes Productivity with Microsoft 365

iServer 365 comes ready to integrate with many of the leading business systems available today, and our tools help businesses maximize the value of Microsoft 365. From Excel and SharePoint to Visio and Power BI, our architecture management solutions can take the tools you already use and make them more powerful.

Visualizations and Reports

Our tools can generate user-friendly reports and visualizations. This can make data and insights easier to understand and easier to share with other team members. Users can get the answers they need on-demand with actionable insights that will help them make better decisions.

A Range of Solutions

It is more than just a SaaS tool for enterprise architecture – iServer 365 comes with a range of simple solutions to make EA easier and more effective. Our range of prepackaged tools can assist with features like application integration, process framework, project roadmap, data flow, capability model and more.

Application Rationalization

Enterprise architecture allows you to standardize the applications you use, making things more efficient. This means that everything from streamlining communication to offloading unused applications can be done using enterprise architecture.

Process Modeling

Process modeling can help banks standardize workflow, make sure IT is running efficiently, and get more out of R&D processes. Process modeling allows users to see data-driven depictions of workflow, allowing you to understand where your time and money are going, and how to improve them and model alternative processes using enterprise architecture.

Technology Roadmapping

Technology roadmapping can use enterprise architecture to envision new paths for technology use at your bank or finance organization. Whether it’s using new security systems or changing the overall IT, enterprise architecture can help you boost your systems seamlessly.

Data Governance

Data governance is especially necessary for the finance industry to allow you to securely manage data of users over the lifecycle of the data. Enterprise architecture gives you an efficient, secure way of seeing pathways to improved data governance.

Capability Modeling and More

Capacity modeling allows institutions to find overloaded tools and systems where capacity has been reached and find solutions ahead of time. This list is just the beginning of things that you can do with enterprise architecture.

Global Technical Support

We offer unlimited support for all iServer 365 users. Our technical support teams are ready to act fast and work with you to limit any issues users may be facing with product downtime. The expert support staff on our teams are ready to help whenever you need it and they take great pride in providing support that is fast, efficient and convenient.

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Support for Digital Transformation in Banking

Cloud solutions from Orbus Software come ready to help any organization solve the technology challenges facing modern businesses. Gain a better view of the structure of the organization, identify constraints and find the solutions that can ease a digital transformation with iServer 365 from Orbus Software.

We are ready to provide your financial services business with the enterprise architecture tools it needs. Learn more about enterprise architecture management by contacting our team or book a free demo today.

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