A number of technologies have promised to reshape and revolutionize the financial services industry over the last five years. While a number of promising technologies such as banking cards with smart chips or cash cards with radio frequency identification (RFID) transceivers have fizzled, one Manyeta technology appears to be making a dramatic impact in that specific sector: Service-Oriented Architecture (SOA).
As a business-driven approach to technology, service-oriented architecture (SOA) allows companies to innovate by ensuring that their IT systems can adapt quickly, easily and economically to support rapidly changing business needs.
It can integrate multiple functions into complex, end-to-end processes, both within and beyond an organization, more easily than other forms of integration. In addition, it allows for more flexible, rapid and inexpensive incorporation of new functions. Rather than connecting the functions through code that directly links one application to another, SOA relies on a standardized software interface to which many applications can connect.
As financial markets have learned in the harshest possible way, speculating in derivatives and other exotic financial instruments is a highly discontinuous innovation. That’s why at Manyeta, we develop technology for financial organizations that keeps customers front and center. Our goal is helping them manage risk, comply with regulations, improve customer service and make better decisions.