Banks need to deliver short- and long-term returns on investment for complex digital transformations that affect many applications. Unfortunately, transformation usually means expensive back-end re-engineering, and long change lifecycles for incompatible components.
Synechron’s Smart Desktop Interoperability Accelerator – Powered by OpenFin provides a framework that can be used to accelerate enterprise-scale digital transformation across business applications. The Accelerator uses 4 of Synechron’s Wealth Tech Accelerator applications that are siloed unconnected solutions. The accelerator uses OpenFin to quick bridge across these complementary apps to mimic a potential user’s ecosystem.
App #1: The client onboarding and client suitability assessment systems are connected in the front-end to transfer client records without the data ever needing to return back to the server. This demonstrates that two different applications can continue to operate independently rather than a multi-year proprietary single customer profile effort.
App #2: The general ledger (GL) reconciliations connects a General Ledger (GL) system and a Trade Processing System (TPS) in real-time to a Microsoft Excel file, that runs a reconciliation to identify breaks. Notifications of the breaks and proposed actions are pushed to a shared notifications engine on the desktop without any integrations required.
App #3: Multiple trading venue feeds aggregation via a single notifications engine across many trading applications allows RFQ orchestration at scale, without building expensive and globally complex proprietary custom orderbooks.
/ /Key functionality components include
Common HTML5 message bus to pass data between multiple separate applications (either desktop or web application) without sending data back to a server
App Store to set up and manage your applications and at a future date, to connect to the wider OpenFin / FDC3 App Directory
Notifications engine shared by many applications enabling aggregation without integration. Consider the orchestration of different prices in fixed income, without having to build a new interface over the top
/ /Key benefits
Enables digital transformation in days, rather than years – suited to the pace of change required today while dealing with legacy technology
Dramatically modernized financial desktop user experience and streamlined communication across applications with browser agnostic flexibility and mobility
Allows for faster OS update frequency and instant app install time
The ability to easily add on additional process-based workflows, with hundreds of application adapters available in the FinOS ecosystem
To learn more about our Smart Desktop Interoperability Accelerator,please watch the below video: