by
Anuj Goswami and Ed Roman; Distributed Computing Architecture/e-Business
Advisory Service Monthly Executive Summary, July 20003.
Project Background
3.1
Work done by others
3.1.1. http://industry.java.sun.com/solutions/products/by_product/0,2348,all-3784-99,00.html
Bali is an Internet Banking solution that offers payments/cash management
systems, trade finance and custody systems. BALI enterprise internet-banking
solution is developed on the J2EE(TM) Java(TM) Enterprise platform and utilizes
EJB(TM) technology deployed under BEA WebLogic application servers. Underlying
BALI is a highly scalable and secure transaction engine powered by EJB
components which leverage BEA's EJB support.
3.1.2 Internet
Banking: An EJB Case Study
by
Anuj Goswami and Ed Roman; Distributed Computing Architecture/e-Business
Advisory Service Monthly Executive Summary, July 2000
3.1.3
Online
Payments Shackling E-Marketplaces
E-Marketplaces won't take off until online payment
systems improve. IDC says the process involves much more than moving money from
one account to another.
May 18, 2001 - CIO
3.1.4 http://industry.java.sun.com/solutions/products/by_product/0,2348,all-4517-11,00.html
Introduction: WebBanker is a Internet based Retail Banking solution. It allows banks to host most of its Retail Banking Services online. It provides an interface to the customers of the bank to carry out most of their bank transactions from the comfort of their homes without having to actually go to the bank.
Objective: The objective of the system is to allow the banks to host their Retail Banking services on-line so that its customers can avail them over the Internet.
Scope: The product integrates the various levels of
interactions between the bank and its customers and provides the customers of
the bank with the necessary interface to avail its Retail Banking Services.
WebBanker can also be integrated with any Branch Automation Software that a bank
uses, to achieve the goal of Total Bank Automation.
3.2
Relationship
of proposed project to current research in the field
For
traditional banks, it is essential that the Internet is viewed as another string
to their bow. One problem that many companies are grappling with is that they
are treating e-commerce as a completely different channel. This means that when
customers go through other channels (call centers, ATMs, etc.), the information
doesn't migrate across all other channels and may be inconsistent. Java
component-based technology effectively solves this problem by providing an
integrated development delivery service platform, which migrates easily across
all channels.
Until
recently, banks had different platforms, different machines, and different
languages. With the arrival of EJB, they have a standardized development
language (single EJB component model) that gives a single view of the customer
data. With EJB-based technology and multi-channel capability, when a customer
goes into the branch, the teller will have access to the transactions the
customer completed earlier that day via the Internet, call center, ATM, etc. By
using real-time, closed-loop, multi-channel tools, banks can deliver an instant
response to customer requirements across all channels. Customer data is clear
and consistent each time the customer interacts with his or her bank. This
provides the bank with a measurable service level to make the consumer's banking
experience as pleasant as possible.
Once
the solution is built, it can be deployed across a variety of platforms. Using
an EJB-based approach, an online service can be delivered rapidly, and if a
mobile banking channel becomes essential, any of the Internet banking processes
can be carried across seamlessly to the new channel. With EJB-based processes
the bank can leverage and harvest the investment for new channels such as
wireless or mobile banking. Java-based solutions also allow for greater
utilization of existing IT systems: Java layers on top of existing systems,
which allows banks to fully leverage past investments