Core Integration: Increase Agility and Flexibility with Content Management Integration

Listen to Craig Le Clair, vice president and principal analyst at Forrester Research explain how content management technology relates to financial services core banking platforms.

Video Transcription:

So I often get asked at Forrester, where does content management, business process management and those types of technologies, how do they relate to the systems of record? The transaction systems and, in financial services, the core banking platforms. Now those platforms are critical to what financial services companies do. They are the guts of providing a transaction that really is the source of their revenue.

It's the main thing that they do but, unfortunately, the platforms have been over the years tended to be customized usually on older types of technology architectures so they lack the flexibility, the agility of more modern orchestration layers like content management and business process management. That tend to be layered on top of those systems in order to provide that.

I talked to a lot of enterprise architects, a lot of business architects and what they're trying to do is to get the things that change a lot and the things that are closer to the customer that really affect that customer experience. [They want to] try to move those software features and capabilities out of the core banking platform and move them into that more agile layer which is the foundation of enterprise content management, business process management, business rules, and an area we call customer communications management.

So you're trying to do basically take the work rules, the work patterns, the client reporting and communications all of those things that relate to the customer and change a lot to reduce that functionality in the core banking platform. Move them to this more agile layer because they're the ones that are going to change a lot. They're the ones that need to go multi-channel. They're the ones that need to provide the status of a transaction to a customer, be able to take the events that come in, gather metadata that can be used to provide that more holistic view of the customer that may be crossing a number of those hardened, siloed functional areas that are within that global banking platform. You need to smooth out that experience to get to a strong customer experience.

BPM and ECM are very strong enablers for that, but we see a very bright future for content and process management in the banking area, particularly around enabling agility in the core banking platforms.