Paper outlines an architecture to support financial firms’ internal connectivity and security needs plus consumer demand for mobile payments, social interactions, and other state-of-the-art services
Mountain View, CA – October 7, 2015 – Increasingly, consumers expect online financial experiences that go beyond the Web to include mobile and social interactions. However, too often, financial institutions need to tackle legacy system challenges before they can deliver innovations in these areas. A new WSO2 white paper addresses this challenge by outlining a reference architecture for enabling a connected financial enterprise.
The white paper, “Connected Finance Reference Architecture,” was authored by WSO2 Vice President of Solutions Architecture Asanka Abeysinghe. In it, Asanka examines how financial enterprises can develop a next-generation financial infrastructure that will seamlessly connect with all existing backend systems and in turn, offer value-added services to customers. The white paper can be downloaded at http://wso2.com/whitepapers/connected-finance-reference-architecture.
Asanka begins by reviewing the requirements for a next-generation infrastructure, including the ability to address mobility, location, connectivity, social interactions, virtual payments, and mobile payments. He also discusses the need to connect everything to a central ecosystem and move from batch to real-time processing. Asanka then dives into several connectivity requirements, such as services and APIs, financial protocols and the need to bridge them with open protocols, secured connectivity and the bridging of security systems, cloud connectors, support patterns, unification and routing.
Next, Asanka explores the role of event-driven architecture (EDA) in the connected finance ecosystem along with an architectural pattern for monitoring gateways. He then presents a connected finance reference architecture and explains how products within the comprehensive, modular, and open source WSO2 enterprise middleware platform can be used to implement it. Finally, Asanka discusses how WSO2’s complete cloud architecture enables enterprises to implement a hybrid deployment that complies with the tight regulations of the financial industry.
About the Author
Asanka Abeysinghe is vice president of solutions architecture at WSO2. In his role, he spearheads the company’s customer facing technical tasks and oversees the solution architecture and technical sales functions. He also provides consulting to key WSO2 customer and conducts workshops specifically targeted at enterprise architects and technical managers. Asanka has over 15 years of industry experience, which include implementing projects ranging from desktop and web applications through to highly scalable distributed systems and SOAs in the financial domain, mobile platforms, and business integration solutions. His areas of specialization include application architecture, development using Java technologies, C/C++ on Linux and Windows platforms.
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