Almost every financial services company has applications and systems, developed over decades, that address single business issues. They are in different technologies and computer languages. The task of integrating these disparate systems is painful, time consuming and costly - but must be done. Fully understanding your customer and building a loyal relationship is no longer an option to stay competitive. Data from all channels and lines of business must be brought together and transformed into valuable and accessible customer information that can build a complete and intimate view of each customer.
Integration involves more than just unlocking data that is imprisoned in legacy systems.
Just as important is the ability to move current data around the business. Particularly now, with customers being offered and choosing a variety of touch points. It is important that the data is current and consistent at every contact point . The ability to migrate and integrate data quickly and cost effectively delivers an increasingly competitive edge. IBM has developed methodologies and tools especially for financial services that can dramatically shorten implementation time and reduce costs.