Financial Services

Stock photo with the words "finance, markets, stock market ratio," and different stock reports on paperIncreased consolidation and global competition are the major issues facing the financial services marketplace in the 21st century. Financial services providers today face a dynamic business environment. There is a constant demand for new products and services, for better and faster service, and for broader access through new delivery channels. To compete in this dynamic environment, financial institutions must create new opportunities, increase efficiency, and enhance customer relationships. Above all, customers demand continuous availability; it is never acceptable for a service to be down, even for scheduled maintenance.

As well as service availability, another critical factor for the financial sector is data loss and corruption. Financial data can be of great value, therefore it is very important to prevent any data from being lost or corrupted, even in the event of unplanned outages or hardware problems.

An ever present challenge to the financial industry is the matter of fraud. Since millions of dollars are lost annually as a result of fraudulent transactions, any help that minimizes this risk is of significant business benefit. HPE Shadowbase software helps meet this need by acting as the integration fabric between banking services and fraud detection applications; it forwards transactions in real-time so that fraudulent activity is immediately detected and prevented.

To summarize, banks, credit unions, mortgage banks, savings institutions, and finance organizations turn to the Shadowbase suite of software products for complete data replication solutions. These include solutions for business continuity and minimizing data loss, zero-downtime migration and upgrade solutions to eliminate planned downtime, as well as data and application integration for real-time data warehousing, business intelligence, and fraud prevention.

Key financial services characteristics of Shadowbase data replication solutions include:

  • Active/passive through active/active business continuity architectures for maintaining service availability
  • Real-time data and application integration for data warehousing and real-time business intelligence
  • Software and hardware upgrades and migrations with no service outage using Shadowbase Zero Downtime Migration (ZDM)
  • Configurable for extremely low transactional replication latency (the ability to move source database changes to the target and apply them very quickly, in real-time change data capture)
  • Support for batch/snapshot, or periodic refresh/replication (e.g., the ability to batch changes and send periodically, perhaps when network traffic is low)
  • Scale with volume to meet fluctuating database loads
  • Maximum flexibility for replication source and target feeds
  • Automatic recovery in the event of system, network, and database faults
  • Support for replication diversity, including built-in functions for transformation, mapping, data cleansing, and data filtering

The features offered by Shadowbase solutions are applicable to the sub-components of the financial market sector as follows:

Stock photo of "bank" on glass window

Banking Services

Commercial banks that manage account transactions (for deposits, withdrawals, savings, loans, etc.) in brick and mortar branches, must also offer online access to services. Customers now require that accounts be available 24 hours a day, 365 days a year, meaning that the IT systems running online banking need to be continuously available. This demand results in the need for Shadowbase software and a sound business continuity plan.

Stock photo of blue stock exchange ticker with up and down arrowsTrading and Brokerage Services

Trading and brokerage services provide the services necessary for the trading of securities instruments (stocks, bonds, mutual funds, etc.). These services include not only the stock exchanges themselves, but the many institutions which provide customer management of the holdings, including purchases and sales. As with online banking, these services must be provided online, and available to customers at all times, necessitating continuous availability. Being “always on” is especially true now in the global                                                           market, where somewhere an exchange is open.

Stock photo of an EDC debit/credit card reading machinePayment Services

Payment services essentially provide the means for the transfer of funds between buyers and sellers, including credit/debit card transactions, checks, and ATM withdrawals. The payment system provides a financial message switch between the source of the transaction (e.g., a merchant point-of-sale terminal or ATM) and a bank, where the transaction is authorized and ultimately settled. Payment services must be available all times as an integral part of the “always on” marketplace (24-hour shopping opportunities). If the system is unavailable, it becomes very difficult or impossible for merchants to execute business.

Related Pages:
Related Article:
Related Case Studies: