Sixth International Conference on

Design Science Research in Information Systems and Technology

Keynote Address

“SOA in Action: Design Challenges in Financial Services Technology”
Jim Dempster SVP, Technology Strategy, Fiserv, Inc.

Overview

The domain of banking in financial services technology is a realm that is both mature and at the point of dramatic change. 

Legacy systems have been in place for decades, and are largely doing the job.  But market needs and customer expectations for modern systems that are always on, always right, are accelerating the need for legacy modernization.

Contemporary best practices in architecture and design, including SOA and componentization, offer a path to legacy modernization, but in a context of non-trivial design challenges.

A Domain Model for Banking Systems

An end-to-end domain model for banking systems includes wide range of components:

  • Online User Experience (“Channels”) for sales, customer transactions, and customer service
    • Financial Services Customer (both consumer and commercial)
    • Financial Services Provider
  • Financial Transactions; Electronic and Paper-based Payments
  • Customer Information
  • Account Processing and Servicing

Challenges for Implementing SOA into an Existing Systems Environment

Real-world SOA operates in a context of diverse existing technologies, and system architectures placed in service over a 30 – 40 year period of time. 

SOA in Action: A Reference Architecture for Financial Services

SOA alone is not the answer, but is a critical element in the unification of diverse components interoperating to achieve a unified, enterprise-class, end-to-end systems environment for Financial Services.

 

Speaker’s Bio:

Jim Dempster is Senior Vice President Technology Strategy at Fiserv, Inc.  He is working to define technology and integration strategies for Fiserv's banking and payment solutions. Jim has been responsible for the technology strategy, architecture, and design of Metavante Corporation (now part of FIS) solutions for the financial services industry, holding the positions of Chief Technology Officer and Chief Software Architect.

Jim’s goal is to bring market advanced banking and payment systems to meet the emerging needs of US financial services companies in the “always on” global economy of the future.

Jim is an experienced strategist, software architect, and designer for large-scale systems in financial services. He is recognized as a thought leader in the field of banking systems.  Jim specializes in Systems Design, Enterprise Architecture, Software Architecture, Technology Strategy, Product Strategy, Payment Systems, Banking Systems, and  Financial Services Technology.