Solutions > Financial Services
The Financial Services industry naturally aligns with XAware’s strengths.The quickly accelerating pace of change in insurance, banking, and capital markets requires firms to adopt a new level of flexibility and agility to meet ever-changing demands. One of the largest areas of change and innovation in financial services is the extension of the enterprise to a growing set of external partners and channels of customer interaction. In addition, a large part of the financial services IT dollar is spent on integration activities. Integration in Financial Services not only incorporates the movement of information within the enterprise, but also outside the enterprise with the firm’s complete ecosystem. As an elegant alternative to point-to-point data transformation and assimilation, XAware offers a solution rich in reuse and cost reduction advantages. With XAware, financial services firms can:
 Quickly implement the various market standards for information exchange  (e.g., industry
standards such as ACORD, RiXML, MDDL, IFX, and FIX) |
| Fully leverage the functionality hosted in current legacy systems |
| Easily integrate internal data and systems |
| Seamlessly interact with and incorporate external data sources and systems |
Banking
Banks and credit unions can use XAware to address key data access and data integration requirements in their retail, small business, and corporate (wholesale) lines of business. Common areas of applicability are
| Integration of channel applications to core banking systems |
| Consolidation and synchronization of disparate data sources for customer, product, and
account information |
| Data services that underlie customer, partner, and internal portals |
| Avanced data monitoring for regulatory compliance needs such as the USA PATRIOT Act. |
Capital Markets
Capital Markets firms can use XAware to address key requirements in their retail brokerage, institutional investment, mutual funds wholesaling, and other lines of business. Common areas of applicability are:
| Integration of channel applications to back-office (trading, investment accounting, billing/statement) systems |
| Consolidation and synchronization of disparate data sources for customer, product, and account information |
| Efficient handling of the feeds and extracts inherent in reference (market) data management environments |
Insurance
XAware can be quickly leveraged in the property and casualty (general insurance), health, life, annuity, and pension insurance segments of the insurance industry. Common areas of XAware’s applicability are in creating:
| ACORD-based data services between distribution channels and policy administration systems |
| Data services that provide integration between internal systems (policy, claims, billing, agency, etc.) |
| Data access services that underlie customer, member, agent, and group portals |
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