2

Contents
Introduction.. 3
1.TemenosCoreBanking(TCB)byTemenos. 4
2.TemenosT24byTemenos. 8
3.FinaclebyInfosys. 10
4.BankFusionUniversalBankingbyMisys. 13
5.CFTBankbyCenterofFinancialTechnologies(CFT) 16
6.CorebankbyFidelityNationalInformationServices(FIS) 17
7.FlexcubebyOracleFinancialServicesSoftware.. 18
8.UnisysOpenPaymentsPlatformbyUNISYS.. 20
9.CoreSofttbyVSoftCorporation 22
10.ICBAbyInfoproSdnBhd.. 24
11.InsiteBankingSystembyAutomatedSystems,Inc... 28
12.CyclosbySTRO
13.IKoruna..
30

34
Conclusions.. 36

3
Introduction
Today next generation financial institutions have realised not unlike with the evolution of the
manufacturing industry that considerably improved quality, productivity and cost reduction can be
achievedthroughreusingstandardisedprovencomponentsacrossmultipleproductlinesandthattheend
products can be much more closely aligned to the needs of their customers. The advancement in
technology, especially Internet and information technology has led to new ways of doing business. These
technologieshavecutdowntime,workingsimultaneouslyondifferentissuesandincreasingefficiency.The
platformswherecommunicationtechnologyandinformationtechnologyaremergedtosuitcoreneedsof
bankingareknownascorebankingsolutions.
Corebankingsystemis definedasabackendsystemthatprocessesdailytransactions,andpostsupdates
to accounts and other financial records. The aim of core banking solutions is to enable phased, strategic
approach intended to reduce costs, improve operations, etc. Implementing a modular, componentbased
enterprisesolutioncanfacilitateintegrationwithalreadyexistingtechnologies.Anoverallserviceoriented
architecture (SOA) helps to reduce the risk that can result from manual data entry and outofdate
information, increases management information and review, and avoids the potential disruption to
businesscausedbyreplacingentiresystems.
Corebankingsolutionisanapplicationthatenablescustomerstoconductcommontransactionsandalarge
subsetthroughnetbanking,ATM,orphonebanking,insteadofvisitingbanks.
Computer software is developed to perform the following main core operations of banking: opening new
accounts, making and servicing loans, processing cash deposits and withdrawals, managing customer
accounts, creditprocessing capabilities, customer relationship management activities, recording of
transactions, passbookmaintenance, customer records, maintaining records for all transactions, etc.
Strategic spending on these systems is based on a combination of serviceoriented architecture and
supportingtechnologiesthatcreateextensible,agilearchitectures.
Corebankingfunctionsdifferdependingonthespecificneeds.Corebankingsystemsareoftenspecialized
for a particular type of banking. Products that are designed to deal with multiple types of core banking
functionsaresometimesreferredtoasuniversalbankingsystems.
Effective core banking systems requires a robust technical architecture capable of meeting rigorous
scalability and availability demands while seamlessly integrating multiple channels and ancillary programs
tocreateanendtoendprocessframework.
Theaimofthispaperistoanalysemainsolutionsonthemarket,definetheirfunctionality,providedetails
oftheirarchitectureanddescribethetechnology.Thepurposeofthisanalysisistodeterminewhetheritis
possible to create a demurrage complementary currency electronic payment system using core banking
software to be implemented in case of emergency scenario(providing additional liquidity to the economy
incaseofcreditcrunch)assumingthesystemtobeimplementedonaUKnationwidescaleaslocalsolution
for a mediumsize town reproduced for 100+ locations. We aim at drawing comparison between
proprietary core banking solutions, open source solutions and ready to use solution based on
complementarycurrency.

4
Solutions:
1. TemenosCoreBanking(TCB)byTemenos
OVERVIEW
TEMENOS CoreBanking (TCB) is a contemporary functionallyrich core banking platform, deployed on IBM
mainframe technology and designed around IBMs Information Framework (IFW) industry banking model,
tomaximisereuse,eliminateduplicationandminimiseredundancy.ItisconsideredthatTCBisusedbythe
worlds largest massmarket retail banks. It is designed to enable application components to be
implemented independently, allowing banks to transition from their evolved, fragmented and highly
complexlegacyprocessingenvironmentsonastepbystepincrementalbasis.TEMENOSCoreBanking(TCB)
is a core banking processing engine for large, complex retail banking businesses operated either by the
bank or by an outsourcing operation. TCB is particularly well suited to banks that wish to adopt a phased
corebankingtransformationinoneormultiplelinesofbusiness.
TCBprovidesbankswith:
SingleDefinitionoftheBanksData(basedaroundIndustryStandardFSDM)
Global,GroupandEntityCustomerViews
CommonProcessesacrosslinesofbusiness,eliminatingsilos,redundancyandcomplexity
TrueProductBuilderComponentAssemblyCapability
LifecycleManagementinProductandRelationships,suchasaccounts
EaseofIntegration,SOAandflexibilityofaggregation
MainframeandOpenTechnologyoffasinglesource
HighVolumeProcessing
MultiCurrency,MultiLanguage,MultiEntity,MultiTimeZone
GlobalContinuousProcessingforallfunctionality
IntegratedOperationalDataStore,basedontheSameDataDefinition
Reusabilityoffinegrainfunctions
5

FUNCTIONALITY
EnterpriseControl
Theseprovidecommonapplicationsusedthroughoutseveralbusinessevents.
CustomerDataAdministration
providesdataonallentitiesrelatedtothefinancialinstitutionincludingcustomers,prospects,
employeesandrelationshipmanagers
providesgroupingofrelatedcustomers
includespropertiesforanyentity(thatseveralentitiescansharetoavoiddataduplication)
includesadocumentsmanagementsubsystem
designatesspecialhandlinginstructionsorrestrictedaccessaccounts
ProductBuilderandCatalogue
enablesuserstocreate,modifyandmarketproducts
managesthelifecycleofcustomerproducts
providesproductbuildcapabilityacrossallbankingareas
providesanaudittrailoftheproductbuildprocess
6
maintainsacatalogueofallproducts,includinghowandwheretheycanbesoldandthe
documentationneeded
ContractandRelationshipManagement
describestherelationshipbetweenanyparty/productandthefinancialinstitution(relatingacrossall
bankingareas)
indicatesthestatusofthearrangement.Forexample,offered,requested,approved,active,matured,
suspendedorcancelled.
BankOrganisation
describesalltheinternalorganisationstructureofthefinancialinstitution,branchesandemployees
maintainsuseraccessandauthorisationlevels
maintainsholidaysanduserprofiles

ARCHITECTURE
TCB is designed as a SoftwareOriented Architecture (SOA) supporting the coexistence interface
requirementsthatareanecessityinthecomplexapplicationarchitectures,whichhaveevolvedwithinlarge
Retail Banks. However, more importantly, the reusable discrete component design of TCB takes SOA
7
significantly beyond ease of integration to delivering agility and flexibility whereby discrete functional
componentscanbeaggregatedtocreatenewproducts,services,andprocesseseasilyandquickly.
TCB is a global continuous processor for all functionality. With TCB, business is processed continuously as
required by each time zone while background processing executes scheduled jobs with no service
disruption. As a result, published services are continuously available for channels and time zones are
processedasrequiredwithoutaffectingotheroperations.

TECHNOLOGY
TCB was architected and designed from its inception to handle the extreme high volume transaction
processing needs of Retail Banks. TCB is a contemporary scalable open multiplatform solution, whether
processingonmainframeorUnixoperatingenvironments.
TCB is based on the industry standard Financial Services Data Model from IBM, referred to as FSDM
FinancialServicesDataModel.ThisisthefoundationbywhichTCBenablesoneversionofthetruth.FSDM
is a proven industry standard data model that forces one instance of data definition, owned at an
Enterpriselevel.Asaresult,thebankbenefitsfromonesingleversionofthetruth,noreplicationofdata,
real insight, and better decisions. The TCB data model is databaseindependent and can be supported by
anyrelationaldatabase.

8
2. TemenosT24byTemenos
OVERVIEW
TEMENOS T24is built on open architecture, offers low cost of ownership and uses established standards
such as HTTP, XML and J2EE. The design of T24 offers multiple application server support offering
horizontal scalability and supporting huge numbers of users with true nonstop resilience. Probably the
most innovative aspect of T24, however, is that it will totally eliminate the need to run End Of Day
processing. T24is available as a model bank implementation, with best practice processes built in, or a
moretailoredimplementationforclientspreferringdifferentiation.
FUNCTIONALITY
T24 provides a solid foundation for banks to manage customers, processes, risks and monitor ongoing
activities, as well as specialized line of business functionality, which provides the full range of banking
servicessuchas:
RetailBanking
CRM
Multichannel
Cashtransactions
Payments
Credit
Deposits
Loansimulation
PrivateWealthManagement
PortfolioManagement
Valuations
Compliance
RelationshipManagement
OrderManagement
Products&Instruments
BackofficeSupport
OperationalServices
SupportServices
CorporateBanking
Payments
Cashmanagement
CommercialLendingandSyndicatedLending
Tradefinance
Internetbanking

9
TECHNOLOGY
OpenStandards
Written for performance and reliability, T24 is based on established industry standards as promoted by
independent bodies and not on the particular interpretation of these standards by other vendors. T24 is
providedinCorJava.T24runson:
Openhardware
Opendatabase
OpenJ2EEapplicationserver
OpenUIthroughbrowser,HTMLandXSLT
OpenconnectivitythroughXMLandWebServices
OpenCorJavalanguagecode
OpenJavadevelopmentenvironment
T24alsosupportsthefullMicrosoftstack:
SupportforMicrosofttechnologyonalltiers
NativeASP.NETWebServicessupport
DeployonhighcapacityserverswithWindowsServer2003DataCenterEditionandSQLServer2005
LeveragetheBizTalkServerEAIcapabilitiesforXML,EDIandothermessageformats
MultipleApplicationServers
T24 achieves these high volumes through an efficient and scalable architecture based on multiple
TEMENOST24servers. Thismeansthatasvolumesexpand,furtherserverscaneasilybeaddedimproving
performanceandalsoimprovingavailability.
NoEndofDay
T24 is true 24 by 7 banking system. It eliminates the need for traditional end of day processing, enabling
usersandcustomersfullaccesstothesystematalltimes.
LocalDevelopment
T24permitstheuseoflocalprogrammingtofurtherextendthefunctionalityandflexibilityofthesystem.
Local programs are written in Java and may be inserted in the T24 business logic at over 12,000 different
exit pointsor APIs. This capability greatly extends the localflexibility ofthe systemwithout compromising
clientsabilitytoupgradetolaterversionsofT24whenrequired.
MINIMUMTECHNICALSPECIFICATIONS
TEMENOST24R11
IBMSystemz/OS1.10
IBMWebSpherev7
IBMWebSphereMQv7
IBMDB2v9&IBMDB2v10

10
3. FinaclebyInfosys
OVERVIEW
The solution has an integrated CRM module, enabling banks to offer a rich and differentiated value
proposition to customers. The layered Service Oriented Architecture (SOA), STP capabilities, Webenabled
technologyand24X7operationsensuremultichannel,multicountryandmulticurrencyimplementations.
The functionalityrich modules in the solution provide banks with a varied palette of features to
continuously innovate on their product and service offerings. From the services innovation perspective,
Finacleoffersacomprehensiveandunifiedcustomerrepositorywithcapabilitiestoeducateandempower
customers.
FUNCTIONALARCHITECTURE
CoreBankingSolution

11
UniversalBankingSolution

FUNCTIONALITY
EnterpriseCustomerInformation
Finacle provides a comprehensive solution to leverage customer information and create differentiated
customerexperiencethroughtheEnterpriseCustomerInformationFile(CIF).Itempowersbankstomanage
the various lifecycle stages in their relationship with the customer. Comprehensive segmentation
information, including demographics, psychographics, financials and product preferences, is captured and
presented through a unified view. This view presents information on products and services availed within
thecorebankingsolutionandacrossmultiplebackendsystems.Inquiry,creationandmaintenanceofthe
CIF are enabled through flexible and userdefinable templates while supporting compliance KYC and AML
mandates.
ConsumerBanking
Parameterizationofproductfeaturesisenabledforreuseofcomponents,resultinginfasterrolloutofnew
products.Eachproductcanbeassociatedwithawiderangeofpropertiestohelpbankscreateinnovative
products.Inadditiontothestandardproductofferings,consumerbankingproductsthatcanbeconfigured
includemulticurrencyaccounts,structureddeposits,topupdeposits,mastertermdeposits,topuploans,
revolvingloans,loanswithflexiblerepaymentschedules,offsetproducts,mortgagesandsecuritization.
WealthManagement
Thewealthmanagementmodulesupportsrulebaseddefinition.Italsosupportsconfigurationoffeatures,
structure, commission, redemptions, relationship pricing, customer communication and a wide range of
relatedpropertiesandentitiesforstructuredproducts,distributionofinsuranceproductsand distribution
12
of mutual funds. The module is tightly integrated with the core banking and CRM solutions, ensuring
uniquecustomerdefinition,unifiedcustomerportfolioviewandseamlesstransactionprocessing.
CorporateBanking
Thiscorebankingsolutionpresentsarangeofofferingsforcorporatebankingfromsimpleproductssuch
asoverdraftsandcashtermloanstocomplexonessuchassecuritizationandsyndication.Thecommercial
lendingmoduleisrichinfunctionalitiessuchasmulticurrencydisbursementsandrepayments,flexibleand
variedinterestratesetup,commitmentfeesetup,crystallization,amortizationanddebtconsolidation.The
centralizedlimitsandcollateralfunctionismulticurrencyandhierarchyenabledthusempoweringbanksto
supportcollateralbasedlendingandonlineexposuremonitoring.
TradeFinance
The trade finance module is integrated seamlessly with the core banking solution to give an endtoend
perspectivetothetradefinanceneedsofabank.Fullyintegratedwiththepaymentsystemandexchange
ratesetup,themodulesupportsmulticurrencyprocessingoftradeproductssuchas:
Documentarycredit
Forwardcontract
Importandexportfinancing
Letterofguarantee
FunctionalServices
Finaclecorebankingsolutionoffersarangeofmainstreamandbankdefinablefunctionalservicesthathelp
bundleproductswithservices,enablingbankstoachievedifferentiation.
Standingordersintegratedwiththepaymentsystems,enabledformulticurrencyandhavingauto
executioncapabilities
Liquiditymanagementsupportingnotionalpoolingandtargetbalancingstructures
Featurerichbillpaymentfeaturesupportingmulticurrencypaymentsandcollections
Remittancesofferingcomprehensiveinterbankandintrabankfundstransfercapabilities
PaymentsenabledforStraightThroughProcessing(STP)
Flexibleandfeaturerichclearingservicesupportingbothpaperbasedandimagebasedclearing
Automatedexceptionandapprovalmanagementwithreferralforfinancialandnonfinancial
exceptions
ReusableBusinessComponents
Thiscorebankingsolutionsupportsthefollowingbusinessenablerfunctionsthatcanbedefinedbythe
bankandreusedacrossvariouscrossfunctionalsolutions:
Interestfeaturewithsupportfordefinitionofdifferentialandslabbasedinterestrates
RulebasedSignatureVerificationSystem(SVS)
Exchangeratestructurewithmultitiereddefinitionfacility
Taxstructuredefinitionandapplicationofwithholdingtaxfordefinedevents
Eventbasedchargeswithprovisionforonlineandbatchcollectionofcharges
Supportforpreferentialpricinganddiscounts,bothadhocandbasedoncustomersegments
Inventorymanagement
13
Elaboratechannelrulesandchannelbaseddifferentialpricingofchargesandinterest
Rebates,clawbacks,subsidies,plannedprepaymentsandmultisourcerepaymentconfiguration
capabilitiesinretailloans
DirectSellingAgent(DSA)featurewithcapabilitiesforsubDSA,turnoverandcommissionscalculations
Extensiveframeworkforbankmanagementwithuserdefinitioncapabilities,audittrailfeatures,
reportingandexceptionmanagement
AccountingBackbone
Finacle core banking solution has an inbuilt integrated financial and accounting management system that
caterstomulticurrencyandhierarchicalbankstructurescomprisingmultiplebranchesandprofitcentres.
TheintegratedGeneralLedgersupportsrealtimeonlineupdatingoftransactionsgenerated,providingthe
bank with the facility to accurately generate its financial position at any point of time. The transaction
manager provides the facility to auto generate batch and online transactions while processing large
transactionvolumes,completewithvalidationsanddefinedchecks.
INFRASTRUCTURE
Finaclecorebankingsolutionempowersuserswitharangeofutilitiessuchas:
24X7capabilitiestooperateroundtheclockthroughbranchesandchannelsevenduringbatchjob
executionanddayendoperations
Integrated,secureandscalablereportinginfrastructuretomeetvariousreportingneeds
Easeofintegrationwithindustrystandardbasedframeworktointegratewithexistingandexternal
systems
SingleSignon(SSO)foruniformandcommonauthentication
Sophisticatedsecuritymanagementatapplication,databaseanduserlevelswithinbuiltchecksand
rolebasedaccess
SupportformultiplecalendarssuchasGregorian,HijriandBuddha
BatchJobScheduler(BJS)toautomateinvocation,executionandmonitoringofbatchjobsatdefined
schedules
FinacleScriptingStudiotoextendthesolutionbeyondparameters,toincludebankdefinablebusiness
rulesandlogicforbehaviourandoutcomeofbusinessevents
BPEL/BPMLbasedworkflowforautomationofsequentialbusinessprocesseswithreducedmanual
intervention

4. BankFusionUniversalBankingbyMisys
OVERVIEW
Misys BankFusion Universal Banking is a customercentric core banking system that contains a range of
bankingandfinancialservicesfunctionalityforbothfrontandbackofficedeployment.Thesolutioncoversa
range of retail banking instruments such as lending, deposits and payments in addition to supporting
business and enterprise banking requirements including treasury and trade services. Misys BankFusion
Universal Banking includes an integrated General Ledger application that can be used for bankwide
financialmanagementoralternatively,canactasaproductledgerandintegratewithanexistingenterprise
14
GL solution. The BankFusion UB technology platform and tools enable banks to create and configure
functionally rich product and services using an innovative process capability that allows the flexible
management of user interactions based on decoupling products, services and associated workflows from
backendcorebankingsystems.TheSOAdesignedbasedJ2EEBankFusionplatformsupports24x7banking
operations, removing traditional systems constraints around user downtime during end of day
processing.
ARCHITECTURE
MultiTierArchitecture
The Misys BankFusion platform on which Misys BankFusion Universal Banking is built manages the
underlying data separately from the business logic that, in turn, is separate from, but easily accessed by,
thechannelapplications.
DataLayer
The data layer maintains and persists the core banking data relating to customers, accounts, products,
transactions,andtheoverallbankingenvironment.MisysBankFusionUniversalBankinghasawelldefined
datamodelthatcanbeeasilyextended.Thedatalayerisdefinedatbothalogicalandphysicallevel,sothat
changestotheunderlyingdatamodelwillhaveaminimalimpactontheliveapplication.
ChannelLayer
TheMisysBankFusionplatformenablesfastdesignanddeploymentofnewproductsandservicesandthe
ChannelLayerensuresthatonecanreachoutandsupportonescustomerswhenandwheretheywant:
Inthebranch
AttheATM
ViaPointofSale
ThroughcallcentersandIVR
OntheInternet
Product&ProcessLayer
The Product & Process layer is the home of the product portfolio. The Process layer provides a range of
business processes to support the channels. The Product layer provides the common product and service
functionstosupportthecorebankingprocessesinthebank.
15

TECHNOLOGY
AIXandIBMDB2platformwithchoiceofotheroperatingsystemanddatabase(includingHPUXand
Oracle);
Scalability,performanceandresilience,duetotheunderlyingenterprisecapabilitiesofferedbythe
J2EEenvironment;
Speedofimplementationandintegrationduetotheuseofrecognisedinternationalstandards,suchas
XML,WebServices,JMSandJMX;
Builtuponapowerfulmultitierarchitecturewhichprovidesflexibilityaroundservicedeliveryand
solutionarchitecture;
Builtinprocessmanagement;
Fasterdevelopmentturnaroundreducingdeliverytimesandincreasingspeedtomarket;
Integrateddevelopmentenvironmentenablinglowercostlocalisation;
Centralisedoperationssupportingcentralisedmanagement;
Scalableandresilientenablingbothorganicgrowthandgrowththroughacquisition.
Backwardcompatibilitywithexistingapplications;
Automatedtoolingisprovidedtomigratebankdata;
CustomerdataisgreatlyextendedandenrichedinBankFusionUniversalBanking;
Userdefineddatacanbemappedtoextensiontables;
Noenforcedaccountnumberchange;
Nosizelimitationonhistoricdata.

16
5. CFTBankbyCenterofFinancialTechnologies(CFT)
OVERVIEW
CFTBank (Oraclebased development platform) is an objectoriented banking system based on Oracle
DBMS.CFTBankInformationComplexwascreatedandisdevelopingonthebasisofadvancedexperience
of CFT and practices of the leading Russian banks. Currently, CFTBank (Oraclebased development
platform) has over 250 installations and is commercially operated in the Savings Bank of the Russian
Federation. The information complex was certified by the Russian Savings Bank and is used to develop a
centralizedsolutionatthelevelofterritorialadministrationsofthebank.Thesystemcombineselementsof
product and customeroriented approaches to automation of bank business. It provides a uniform
technological bank platform, which means an integrated access to the functions of different backoffices
(including regional ones); a possibility of centralization of all backoffice functions; unified and integrated
sales channels (branches, divisions, selfservice points, Internet, mobile phones, etc.); centralization of
customerdata.Thesystemhasaninstalledadministrationmeansandobjectorientedstructure.
ThesystemistheleaderintheRussianbankingmarket,includingthefollowing:
numberofinstallationsofbanksystemsbasedonOracleDBMS
numberofsimultaneouslyworkingsystemusers
volumeoftransactionsperformedwithinthesystemwithinanoperationday
thebestpricequalityratioinitsclass
Thesystemprovidesasingletechnologicalplatformofthebank:
anintegratedaccesstothefunctionsofdifferentbackoffices(includingregionalones)
anopportunityofcentralisationofallbackofficefunctions
unifiedandintegratedsaleschannels(companysbranches,divisions,selfservicepoints,Internet,
mobilephones,etc.)
centralisationofcustomerdataanditscomprehensiveanalysis
ARCHITECTURE
TheadvantagesofthebankingsystemsbasedonthePlatform2MCA:
supportofallmodernmeansofintegration
theindependenceofthesystemcoreandtheappliedsolutionscontrolsystemupdate
unlimitedopportunitiesintheproductivitybuildup
reliability:ensurestheoperationofcruciallyimportantapplicationsinthe24/7format
scalabilityandcentralization.Scalabilityispossibleonbothlevels:applicationserversanddatabase
servers.
Duetotheappliedlogicsanddatabasedivisionthepossibilitytoscalethesystemwiththemiddlerangeor
lower levels servers instead of the highend servers, was enabled. Middlerange server is used as a
databaseserver,whilethesystemisscaledbyapplicationservers,thetotalprocessingpowerofwhichwill
costthebank10timeslessthanahighendserverofthesamepower.
Basicprinciplesofarchitecture:
17
multiplatformity
independenceoftheOS,potentialindependencefromthedatabase
independencefromtheapplicationserversOS
independencefromtheapplicationserversmanufacturers
continuityofCFTplatforms
ForthebankthathavealreadyinstalledbankingsystemsCFTPlatfrom1,thetransferencetothePlatform
2MCAisashiftoftheappliedpartofthesystemsontothenewtechnologicalcore.Furthermorethebank
has no need to reskill businessusers of the system, as the interface and functionality of the system are
identical. Banks ITpersonnel has no necessity to study new programming languages as the CFT experts
havecreatedacompilerfromPL/plustoJava.
Highproductivity
Platform 2 MCA ensures simultaneous service for 500 up to 100 000 users and support for up to 100 000
000 users accounts in a single database in the real time mode. The high performance and scalability
indexes of the technological platform have been proved under the CFTBank information bank complex
testing(Platform2MCA),developedonthedatabaseserverbasedontheHPSuperdomeplatformwiththe
Oracle10gdatabase.Thedependenceofthehardwaresoftwarecomplexproductivityuponthenumberof
sessionshasbeenanalysed.

6. CorebankbyFidelityNationalInformationServices(FIS)
OVERVIEW
FISsupportsarangeoffinancialinstitutionmarketsegments,including:
Creditunions
Thrifts
Bankersbanks
Denovoandcommunitybanks
Midtierandlargefinancialinstitutions
Internationalfinancialinstitutions
Inadditiontodepositandloanaccountprocessing,FIScorebankingsolutionsaddressfinancialinstitutions
needs in the areas of accounting/general ledger; data access and integration; and lending, payment and
trustsolutions.
ARCHITECTURE
Corebank is a customercentric, realtime, relational database solution that provides a 24/7 continuous
processingsolutionforglobalbanksandsupportsawiderangeofcustomer,productbuild,deposit,lending
and payment functionality for the retail banking environment. Based on IBMs Information Framework
Financial Services Data Model (FSDM), Corebanks application architecture supports a componentbased
business model and is efficient at reusing software components, thereby reducing complexity,
maintenanceeffortanddevelopmentrisk.CorebanksbusinessfunctionalitycanbedeliveredinCOBOLon
the mainframe zSeries platform as well as in a J2EE environment on either UNIX pSeries or mainframe
18
zSeries.Corebankisdeliveredasasetofintegratedcorebankingcomponentsthatarethentailoredtofit
the institutions individual business requirements. These components can be reconfigured as business
requirementschange,protectingtheorganizationsstrategicinvestmentandmaintainingaunifiedbusiness
approach.
Corebankcomponentsinclude:
CorebankFinancialInstitutionInfrastructure
CorebankProductBuild
CorebankCustomerManagementandCustomerOverview
CorebankAccountAdministration
CorebankPayments
CorebankManagementInformation
Corebankcan:
EnabletheorganizationsCustomerRelationshipManagement(CRM)strategybyprovidingoperational
customerdatabaseandcustomeradministration.
Providecostsavingsandimprovedcustomerservicethroughsimplifiedaccountadministration.
Support portfolio growth with a fasttrack Product Build component that creates flexible financial
products,providingthecapabilitytobuildproductsinlinewiththeprevailingmarketconditions.
Deliver speed to market in terms of product development with support for a wide range of account
typesonlineinrealtime.
Facilitate increased productivity and reduction of errors through components that automate
calculationofcomplexfeesandinterestrates.
Provide full multibank and singlebank operations, including multilanguage support, to support
mergersandacquisitionsandotherbrandingstrategies.
Supportmulticurrencyoperations.
Provideincreasedbusinessandoperationalefficiencywithtrue24/7operations.
Generate accounting and management information from operational data for compliance, risk
managementandprofitabilityanalysis.
Provide the opportunity to rationalize processing infrastructure with resulting cost reductions and
increasedoperationalresilience.
Provide data structures and userexits to extend Corebanks functionality to support bankspecific
needs,thusreducingmaintenanceandupgradecosts.

7. FlexcubebyOracleFinancialServicesSoftware
OVERVIEW
WithOracleFLEXCUBECoreBanking,banksgainacostadvantagethroughstraightthroughprocessingand
exception handling. In addition, the solution supports regulatory requirements in key markets through a
highly secure data management system, which can easily integrate with thirdparty solutions at a bank.
Working in concert with Oracle Industry Reference Model for Banking, a comprehensive repository of
industryspecific processes, Oracle FLEXCUBE Core Banking's application architecture supports agile and
business processes management using Business Process Execution Language (BPEL), serviceoriented
19
architecture(SOA),andaWebservicesbasedmodel.Itenablesintegrationofallthirdpartyapplications,
includinginhousebankingsoftware,tofacilitatesimpleandcomplexbusinessprocesses.
ARCHITECTURE
Oracle FLEXCUBE Core Banking delivers broad functional solutions for banking products and services that
reflectindustrybestpractices.Thesemodulescanbedeployedindividuallyortogether,atthesametimeor
in a phased approach. Regardless of ones deployment preferences, every module delivers worldclass
functionality on the same technical framework. Oracle FLEXCUBE Core Banking is a robust platform and
streamlinedoperations.

TECHNOLOGY
OracleFLEXCUBECoreBankingcanbedeployedineitheracentralizedordecentralizedmodel.Supporting
both approaches allows organizations to optimize their IT infrastructure around enterprise business
processesratherthanmouldingtheirprocessestomeetinflexiblesystemconstraints.Inthedecentralized
model,eachbranchhas itsownserversetup.Thisenablesofflinesupportandalsolocalizestheimpactof
any single server failure to a specific branch. Such a deployment option is most suitable for banks with
branches across geographies, especially in locations where the network is unreliable and the connection
withthehostcouldexperiencefrequentinterruptions.Inacentralizedapproach,thebranchserverandthe
host server reside in the same data center. This provides centralized control over hardware and system
20
availability,whichreducesdeploymentandmaintenancecosts.Inaddition,becausethebranchserveris
locatedinthedatacenter,itissubjecttothedatacentersstringentsecuritycontrols,whichhelpsprotect
againstfraudulentactivity.
HostComponentSetup
Thehostcomponentconsistsofthreeprimarylayers,eachoneengineeredtobefeaturerich.
Application server. Dynamic logical partitioning (LPAR) is used on each application server machine for
server consolidation, which minimizes maintenance, power consumption, and chances of failure. In
addition,serversareclusteredtoensurethatnoonemachinebecomesasinglepointoffailure.
Database. Advanced Interactive eXecutive highavailability cluster multiprocessing moves Oracle 10g
servers from primary to secondary central processing units (CPUs) to distribute the load and provide
failover support. Oracle Real Application Clusters aids load balancing across LPAR CPUs and assists
recoveryfromspecificmemoryfailurepoints.
Disk.Redundantarrayofindependentdisks(RAID)1+0ensureshighavailabilityintheeventofdiskand
diskdriverfailures.
DisasterRecovery
Thehostdatabaseisdeployedintheproductiondatacenterwithamirroredimageatadisasterrecovery
site. The system is architected so that the disaster site contains a backup of all missioncritical servers.
This ensures that recovery can be completed quickly without any data loss using Oracle Data Guard or
SANreplication.

8. UnisysOpenPaymentsPlatformbyUNISYS
OVERVIEW
UnisyshasdevelopedanOpenPaymentsPlatformtomeetthedemandsfacedbybanksinmaintainingand
growing their payments business. The Unisys Open Payments Platform is based on a ServiceOriented
Architecture(SOA)BankPaymentHubfromUnisyspartnerClear2Paythatincludesprovencomponents
forexternalinterfaces,andforthevalidation,processing,andmanagementofpayments.Thecomponents
can be quickly orchestrated with Business Process Engineering Language (BPEL)rules into nextgeneration
payment solutions. The Bank Payment Hub can reuse components to process any type of payment by
normalizingthepaymenttypetoISO20022.ApowerfulSoftwareDevelopmentKit(SDK)thatenableseasy
modification of existing components and creation of new ones complements the Bank Payment Hub. A
Payments Landing Zone feature of the Open Payments Platform consolidates data from multiple payment
types and multiple sources into a single enterprise view. In addition, Unisys and Oracle have jointly
developed a Payment Business Intelligence Accelerator as an optional service for the Open Payments
Platform. It enables financial institutions to manage their payments business more effectively by
monitoring key performance indicators (KPI) in enterprisewide dashboards and reports. With the Open
Payments Platform, banks can consolidate redundant payment functions to reduce infrastructure costs,
managepaymentsoperationsacrossmultipleproductlines,andadapttochangingregulatoryrequirements
andmarketdemands.
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ARCHITECTURE
By leveraging industry standard software and commodity hardware, the Unisys Open Payments Platform
breaks the performance, reliability, and disaster recovery barriersachieved in the past with expensive,
inflexible, and silo mainframe solutions. The Open Payments Platform supports choices for the underlying
infrastructure.ItiscompatiblewithoperatingsystemssuchasLinuxthatsupportstandardscompliantJ2EE
Application Servers, BPEL engines, and relational databases on todays most popular computer hardware
platforms.
In benchmark tests conducted with partners Oracle and Clear2Pay, Unisys demonstrated that the Open
Payments Platform, including the Clear2Pay Bank Payment Hub, can process more than 17 million
electroniccheckimagesintheindustryX9Standard,alongwithassociateddata,in40minutes.Thesehigh
performance results achieved inbound and outbound payment throughput rates of 8,100 and 6,800
transactions per second respectively. To achieve these results, the test was conducted with Unisys
ES7000/one Enterprise Servers based on Intel processors running the Clear2Pay Bank Payment Hub, the
Oracle 10g Enterprise Database, IBM WebSphere, Red Hat Linux, and the Unisys SafeGuard 30m business
continuancesolution.Thebenchmarktestincludeddemonstratingthesecure,robustfailovercapabilityof
the Open Payments Platform that ensures that it keeps working within a site if any component fails.
Reliabledisasterrecoverytoaremotesiteinlessthan30minuteswasalsoverified.

TECHNOLOGY
ThestrategyforEnterprisePaymentSolutionsisbasedonUnisys3DBlueprintingapproach.Thisapproach
anditsassociated3DBlueprintshelpjumpstarttheclientengagementandenablecompaniestoseethe
interconnectionsamongthecoredimensionsoftheirbusiness.
A proven approach: 3D Blueprinting links strategy, process, applications, and infrastructure to deliver
secureendtoendservicesandreduceimplementationtime,cost,andrisk.
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Fast start: Unisys Open Payments Platform with the Clear2Pay Bank Payment Hub provides proven
componentsandintegratedsolutionstoquicklymeettodayscriticalpaymentchallenges.
Insight and innovation: Unisys payments experts have been providing innovative payment solutions
andservicesineverygeographyforover50years.
Global and complete: Unisys provides endtoend payments solutions and services with global
resourcesandpresenceallwithasinglepointofaccountability.
BENEFITS
The Unisys Open Payments Platform modernizes a banks payment solutions to drive revenue growth,
improved business agility, lower costs, and reduced risk and liability. The resulting payment environment
hasseveralbenefits:
SOAcomponentsolutionsincrementallytransformaginglegacypaymentsystems
Standardsbasedsoftwareoncommodityhardwarelowerscostsandadaptseasily
Scalesincrementallytomeetgrowingperformancedemands
Providesmissioncriticalreliabilityanddisasterrecovery
Single solution platform for multiple payment types eliminates silo redundancy and improves security
andcompliance
QuicklymeetsnewmarketrequirementsusingtheexistingcomponentsandSDK

9. CoreSofttbyVSoftCorporation
OVERVIEW
CoreSoft is a comprehensive core processing system built on browserbased technologies. Its platform
independent and opensystem design based on Service Oriented Architecture (SOA) gives high level of
flexibility, integration and value. CoreSoft offers freedom of choice in terms of deployment options,
operatingenvironments,andprocessingmethods.Theparameterdrivendesignofthesystemenablesone
toquicklyandefficientlyadapttodynamicmarketneeds.
ARCHITECTURE
CoreSoft simplifies and automates business processes without having to make sweeping changes to the
existing applications or data structures. As a technological ecosystem, SOA can organize and integrate
disparate systems, platforms, and applications within ones enterprise into interoperable, standardsbased
servicesthatcanbecombinedandreusedquicklytomeetbusinessneeds.Setsofreusablecodecontained
in CoreSoft for important business services give flexibilityto link different sets of services. CoreSoft works
withmultipleoperatingsystems,includingLinux.Thesystemisarchitectedtoworkwithmultipledatabase
andapplicationservers.Coresoftisdesignedusingobjectorientedtechniquestoprovideasingleviewofall
therelationshipsbetweenthecustomerandfinancialinstitution.
Platform
Thescreensforcustomersetupallowuserstoquicklysearchforexistingdetailsofacustomerortocreatea
newcustomerrecord.Usersarepromptedtoverifythatthedetailsstoredinthesystemarecompliantwith
23
the requirements of the U.S. Patriot Act. The system facilitates scan and storage of all identification
documents provided by the customer, through a seamless interface with document imaging systems. It
allowsmultiplecustomerstobesetuponanaccountandprovidesfordifferentresponsibilityassignments.
Theplatformprovidesaccessto:
AutomatedCreditReportingModule(CRM)
CertificateofDeposit
SavingsAccounting
DemandDepositAccounting
IRAs
HealthSavingsAccounts
DebitCardOrdering
BondAccounting
Lending
CoreSoftcontainsacompleteLoansManagementsystemthatcanprocessalltypesofloans.Whether itis
afixedorvariableinterestrateloan;hassimpleoramortizedinterestcalculationmethods;orhasregularor
irregularpaymentschedules;inCoreSoft,singlesystemallowsmanagementofallloans,nomatterthetype
or terms. This gives financial institution unlimited flexibility in combining features such as interest
calculation, repayment method, and collateral to make customized loans, thus enhancing customer
satisfactionandmaximizingprofitability.
FinancialManagement
CoreSofts GL system combines sound financial principles with the power of information technology. The
system allows to set up multiple ledgers, perform transaction processing and generate daily,monthly and
yearend reports. Multiinstitution support is provided for consolidation of data at multiple levels, from
branchtoholdingcompany.Thesystemisdesignedtoallowbackdatedentriestobepostedtotheledger.
Thisenablesarealtimesnapshotofthecorrectedledgerforanydayinthehistoricalarchive.
Reporting
All financial institutions are required to submit both regulatory and internal reporting on the financial
condition and the results of its operations. CoreSofts reporting suite includes reports that are commonly
used across the industry. CoreSoft offers an easytouse and easytoaccess reporting tool that aids in the
creation of new reporting required either by a regulatory agency or the operations department. CoreSoft
offersavarietyofreportingtomeetfinancialinstitutionsneeds.Thereportsbelowrepresentasamplingof
thebreadthofCoreSoftsreportingcapabilities.
AutomatedCreditReporting
FederalCallReporting
RetirementReporting
OFACReporting
TransactionAuthorization
TECHNOLOGY
CoreSoft is built on the J2EE platform that simplifies enterprise applications by first basing them on
standardized,modularcomponentsandthenbyprovidingacompletesetofservicestothosecomponents.
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Byhandlingmanydetailsofapplicationbehaviourautomatically,J2EEeliminatescomplexprogramming.
TheEnterpriseServiceBus(ESB)withinCoreSoftisacommoncommunicationinfrastructurethatactsasa
platformneutraladapterbetweenapplications.Asaresult,applicationscanbeintegratedwitheachother
in a loosely coupled manner through this mediator, eliminating the interdependence between each
interface.SomeoftheapplicationsthatcanbeeasilyintegratedwithCoreSoftare:internetbanking,mobile
banking, cash management, merchant card services, bill payment, and telebanking. CoreSofts business
benefitscanbeviewedfromthreebroadperspectives:flexibility,integrationandvalue.
Flexibility
Flexibility enables one to adapt quickly to external changes with the ability to scale ones operations
accordingly. CoreSofts unified view of customer information, synchronizing fragmented sources from
multiplesystems,helpsonemaketrulycustomercentricbusinessdecisions.Freedomtoselectthedelivery
modelofchoice,basedonsize,requiredfeatures,andbudgetresultsinoptimumresourceallocationthat
satisfies the strategic mission of the institution. One can adapt either realtime or batch posting, or a
combinationofthesetransactionprocessingmethodsinanoperatingenvironmentofoneschoice.
Integration
CoreSoft is built on the best principles of SOA resulting in reusable business services. This enables to
quickly respond to business changes and wider integration capabilities with external systems on multiple
platforms.PopularindustrystandardprotocolssuchasJ2EE,Hibernate,XACML,JTwain,andApacheService
Mixenablethesystemtorunonanyenvironmentthatsupportsthesestandards.Hardwareindependence
provides the freedom of choice in hardware and software infrastructure that best fits existing or desired
environment. With reliable and highly secure data management systems built into CoreSoft, risk and
regulatorycomplianceisensured.
Value
ThetruevalueofCoreSoftisthesuperiorbenefitcostratioitofferswithhigherreturnoninvestment(ROI)
forlowertotalcostofownership(TCO).ThemodularstructureofthesystemandSOAenabled,reusable
business services combined with multiple delivery models and hardware independence gives
comprehensiveflexibilityintermsofownershipcosts.
10. ICBAbyInfoproSdnBhd
OVERVIEW
eICBA Banking System is a comprehensive, integrated yet modular banking solution designed to meet the
demands of today's financial institutions. Providing the full spectrum of Conventional and Islamic Banking
operations at retail, commercial, smalltomedium size enterprises (SME) and corporate levels,
incorporating a full complement of transactional services, the eICBA Banking System offers a
comprehensive integrated banking & financial system. Its multicurrency and multilingual capabilities
allowsfinancialinstitutionstoservemarketsallovertheworldviaanarrayofdeliverychannels.TheeICBA
Banking System supports institutions of every operational size and complexity, including corporate banks,
retail banks, microfinance banks, and financial cooperatives of any kind. Architecturally sound, eICBA
Systemisaneasytointegrate,scalable,enterprisewidesolutionthathandleslargetransactionvolumeson
a24x7basis.Thissolutionhasbeensuccessfullydeployedinover28countriesaroundtheglobe.TheeICBA
BankingSystemhasanintegratedCRMmodulethatoffersa360degreecustomerportfoliomanagement
25
enabling banks to offer rich and differentiated value proposition to a diverse range of customers. It
providesuserfriendlyfunctionalityforthefrontofficeforinteractionwithclientsandtheinitiationofnew
services.
From the services innovation perspective, eICBA Banking System offers a comprehensive and unified
customer repository with capabilities to educate and empower customers. The functionalityrich modules
in the solution provide banks with varied features to continuously innovate on their product and service
offerings. The eICBA Banking solution enhances the basic business of banking with the capability to
configure and manage the full cycle of the banking process, from origination to servicing across multiple
channels.
ARCHITECTURE
eICBABankingSystemleveragesthebusinessfunctionalitygainedbyINFOPROoverdecadesofexperience
andexpertiseasbankingsolutionprovider.Inessence,eICBABankingSystemprovidesthefullspectrumof
ConventionalandIslamicBankingoperationsatalllevelsofbanking,includingretail,commercial,smallto
medium size enterprises (SME) and corporate levels. The solution supports a variety of products which
covers deposits, including savings accounts, checking accounts, overdraft accounts, term deposit accounts
andavarietyoflendingproductsincludingpersonalloans,corporateloans,andmortgages,alongwithafull
complement of transactional services incorporating remittances, foreign exchange, drafts, bankers
cheques,cardsandtradefinance.Thesecapabilitiesareaccessiblethroughmultiplechannels,frombranch
to call center to Internet and mobile banking. The solution integrates front, middle and backoffice
processesinrealtime,providingbankersthroughouttheorganizationwithcompletetimelyandactionable
informationaboutcustomerrelationshipsandprovidingasingleviewofthebanktothecustomer.
TheeICBABankingSystemsupportsthefollowingareasofbusiness:
Solutions(Conventional&Islamic)
CoreFunctions
RetailBanking
CorporateBanking
PrivateWealthManagement
TradeFinance
TreasuryOperations
Channels&Integrations

RetailBanking
EquitiesandBonds
CashDepositsandAccounts
AssetManagementDiscretionaryand
Advisory
PortfolioRebalancing
PerformanceReporting
PortfolioManagementandAccounting
ExecutiononlyTransaction
AlternativeInstruments
StructuredProducts
Thirdpartycommissionsandtrailerfees
CoreServices
EnterpriseCustomerRelationship
Management
Deposits(includesSA,CA,TermDeposits,etc)
Lending(includesTermLoans,Leasing,HP,
Mortgageetc)
Remittance
Payments
LoansOriginationSystem(LOS)
DebtCollectionSystem(DCS)
Litigation
Recovery
CollateralManagement
RiskManagement
BusinessPerformanceManagement
Accounting&GeneralLedger
RegulatoryMIS
DocumentandImageManagement
ProductBuilder
WorkflowManagement
OtherCoreSupportServices (e.g.Multi
26
company,multicurrencyandmultilanguage
configurator)

PrivateBanking
Securities
PortfolioManagement
PortfolioModellingandrebalancing
Portfolioreportingincludingperformance
Fiduciaries
Intermediary(agent)compensationand
commissions

Corporate/Wholesale
CommercialLending
SyndicatedLending
LettersofCredit
Documentarycollections
Bills
Guarantees&Standbys
Leasing
CashManagement

Channels
Branch
ATM/EFTPOS
Callcenter
InternetBanking
MobileBanking
Otherelectronicchannels

Integrations(ExternalSystems)
CreditBureaus
CardIssuers
Insurance
ClearingHouses
RatingAgencies
PaymentGateways
MarketFeeds
Regulators
BackEndSystems

TECHNOLOGY
Multitiered, Webenabled, designed to conform to Service Oriented Architecture (SOA) and Open
Standards, and built on the Java Platform, Enterprise Edition (Java EE) technology, the eICBA Banking
Systemisafinancialservicesplatformthatencapsulateefficientbusinessprocessinfrastructurethatiscost
effective and open platform. The eICBA Banking System incorporates an innovative Enterprise Application
Infrastructure component that makes it ready for future integration with external systems, business
partners and customers. This advanced technology infrastructure, in addition to the 24x7 operations
capabilities, multichannel, multicountry and multicurrency implementation options, and worldclass
businessfunctionalityprovidesfinancialinstitutionsacompetitiveadvantageinaglobalmarketplace.
OpenStandards&OpenSystems
The eICBA Banking System is developed based on standard enterprise framework called eICBA Enterprise
Architecture, which is a derivative of a widely adopted industry standard The Open Group Architecture
Framework (TOGAF). The TOGAF platform provides a consistent framework and strategic context for the
evolution of the eICBA Banking System in response to the constantly changing needs of the business
environment. eICBA Banking Systems commitment to open standards and systems means the solution
remainsindependentandnotlockedintoanyparticularvendortechnology.Thisfeature,togetherwiththe
supportforanextensiverangeoftechnologyplatforms,givesbanksthefreedomtochoosethebestvendor
orenvironmentfortheirimplementationbasedonfactorssuchascost,performanceandsupport.
Essentially,eICBABankingSystemsupportsthefollowingopenstandards:
OpenSystems
DatabaseStandards
27
JavaEEApplicationPlatform
HTML/XHTMLStandardsforUserInterface
XMLandWebServicesforOpenConnectivity
OpenJavaDevelopmentEnvironment
Initspresentversion9.6,eICBABankingSystemsupportsanextensiverangeoftechnologyplatforms
includingOracleDatabase11gR2,OracleSolaris11,OracleWebLogicServer11gR1andOracleLinux5.5.
MultiTiered
eICBABankingSystemadoptsanntierarchitecturewhereeachbusinessdomainisdividedintotheseveral
tiers making the system highly modular composed of flexible and reusable components. The system is
dividedthefollowingtiers:
Presentation
Application
Database
Apart from the advantages of modular software with welldefined interfaces, this multitier architecture
allowsanyofthetierstobeupgradedorreplacedindependentlyasrequirementsortechnologychange.A
changeofoperatingsysteminthepresentationtier,forinstance,wouldonlyaffecttheuserinterfacecode,
leavingtheothercomponentsintheothertiersunaffectedandthereforecompletelyreusable.
As eICBA components are built on a Java EE framework, there is added advantage of platform
independence that makes eICBA a truly open system. For instance, in any given deployment the
presentation UI could run on either Windows or Linux OS, business components could be contained in
eitherIBMWebsphereASorJBossASanddatabaseobjectscouldresideinOracleorDB2.
ServiceOrientedArchitecture(SOA)
The eICBA is a system where business components are developed with capability of consuming or
publishingWebserviceswithinindustrystandardsServiceOrientedArchitecture(SOA)framework.TheSOA
based framework enables application connectivity, automate business process, software reuse, reduce
integration cost and reduce vendor lockin. In addition, it comes along with the compelling business
modelling (BPEL modeller) and activity monitoring (BAM) tool aid in governing and keeping up the
performanceoftheautomatedbusinessprocessesparticipatingintheSOAinfrastructure.
The eICBA Banking System provides increased flexibility by leveraging on the Enterprise Architecture
Interfacewithmultipleconnectivitystandards.Theinterface,ahighlevelarchitecturethatislayeredontop
of the application architecture and platform architectures, serves to improve integration and enhance
servicemonitoring,andtherebyreducetheriskofintegrationwithexternalsystems.
UnifiedCustomerRepository
All the eICBA modules are fully integrated to a unified customer repository, known as the Customer
InformationFile360(CIF360)toprovideatotal(360degree)viewofassetsandliabilitiesofeachcustomer
online realtime. With the systems Web Services capabilities, the repository can be made available to
external systems so as allow consolidation of customer related information at global level, enabling
institutionstoquicklyandaccuratelyaggregatecustomerinformation.
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Scalability,Availability&Performance
The eICBA Banking System has built to scale easily from the smallest to the largest of banks merely by
adding more servers to the clusterready architecture as volumes or number of branches expand. The
eICBABankingSystemhasdemonstratedgoodperformanceinbenchmarkingexercisesperformedoneven
modestmidrangeservers.Amongotherthings,thesebenchmarkexerciseshavedemonstratedthatsystem
is capable of endofday processing duration of less than 2 hours for 20 million accounts and 10.4 million
dailytransactionsastrongtestamenttoeICBABankingSystem'sspeedandscalability.
11. InsiteBankingSystembyAutomatedSystems,Inc.
OVERVIEW
AutomatedSystems,Inc.isthedeveloperoftheInsiteBankingSystem,acorebankingsoftwareapplication
packageforcommunitybanks.TheInsiteBankingSystemapplicationisdesignedtoprovidecustomerswith
a complete inhouse core data processing solution with flexibility to expand processing capabilities
seamlessly through the inclusion of integrated ancillary products. The Insite Banking System application is
designed to utilize the Microsoft Windows operating system environment to create a single operating
systemsolution:noUnix,noAS/400,andnomainframe.Insiteprovidesdirectlyintegratedcheckimaging,
document imaging, online realtime telephone banking, online realtime online banking, iTeller, an image
teller solution, and more. The Insite Banking provides financial institutions with a complete inhouse data
processingsystem.
FEATURES
29
The Insite Banking System offers a flexible platform that enables customers to integrate ancillary
products such as Check Imaging or Online Banking easily. The Insite Banking System is ODBCcompliant,
providingcustomerswithunlimitedwaysofleveragingandmaximizingthevalueoftheirdata.
MicrosoftWindows2008Server
NoUnix,noAS/400,andnomainframe
Singleoperatingsystemsolution
Userfriendlypointandclicktechnology
Moreproductiveenvironmentformobileandremoteusers
Tightintegrationallowinguptotheminuteinformationtoflowseamlessly
UtilizeThinClientTechnology
Improvednetworkmanageabilityandsystemperformance
Greatercentralizedcontrolandsecurity
Streamlinedimplementationofapplicationsandupgrades
Increasedproductivity
Improvedcustomerserviceforanincreasedcompetitiveadvantage
Completearrayofintegratedandaddonproductsavailable
IncludesallmajorcorebankingaspectssuchasDDA,savings,loans,CDs,GL,andmore
Directlyintegratedcheckanddocumentimaging
Directlyintegratedonlinerealtimeinternetbankingandonlinerealtimetelephonebanking
Multiplereportcreationanddataminingtools
CustomerInquiryfromanywhereinthesoftware
SingleSourceVendor
Providesoftware,hardware,networking,installation,training,andsupport
Backedbycertifiednetworkingprofessionalsandsupportstaff
Lowertotalcostofownership
Removehasslesofmultiplevendors
Strong,independentfinancialsolutionsprovidersince1981
Noshiftingorlackoftrustbetweenyouandthemultiplevendors'variousresponsibilities
BENEFITS
Belowarethetop12benefitsoftheInsiteBankingSystemcoresoftwaresolution:
Lowertotalcostofownership
Increasedperformance
ODBCcompliant
Endservicebureaudependency
Removaloflegacysystems
Onlyoneoperatingsystemtomanage
Utilizingthinclienttechnology
Seamlesscheckimaging
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Integrateddocumentimaging
100%MicrosoftWindowsServerenvironment
Tollfreedirectsupportlines
Windowscoredataprocessingsoftware

12. CyclosbySTRO
OVERVIEW
Cyclos is a project of the Dutch nonprofit organization STRO. Cyclos offers a complete online banking
systemwithadditionalmodulessuchasecommerceandcommunicationtools.Cyclosiscurrentlyavailable
intenlanguagesandusedworldwidebymanyorganizationsandcommunities.TheCyclosplatformpermits
a decentralization of banking services that can stimulate local trade and development. With the latest
version it is possible to roll out mobile banking services using mobile channels such as SMS. Cyclos is
publishedundertheGPL(opensource)licensemeaningthatitcanbedownloadedforfreeandusedatno
cost.
Theobjectiveoftheprojectistodevelopopensourcecomplementarycurrencysoftwarethatiseasytouse
andmaintain,flexible,secure,andhighlycustomizable.TheCyclosstructureisentirelydynamic.Thismeans
thatitispossibleto'build'amonetarysystemfromscratch.Organizationsthatwantastandardsystemcan
use the default database that comes with basic configurations and can be easily enhanced. Cyclos is used
formutualcreditsystemslikeLETS,Bartersystems,administrationofMicrocredits,Timebanksandbacked
currencysystemssuchasaC3(consumerandcommercecircuit).Cyclosjuststartedtobeusedasaback
endformobilebankingservicesinAfrica,andvariousUniversitiesarestudyingthepossibilitytouseCyclos
asacampuspaymentsystem.
FEATURES
Onlinebanking
Registeronline(optionalregistrationagreement)
Home(dashboard)pagewithstatusoverview,quickaccessicons,messageboard
Onlineclientprofile(clientinformation,images)
Payments(normal,installments,scheduled,authorizationlevels)
Paymentrequesttomobileuser(requiresconfirmationbySMS)
Invoices
Loans(viewopenclosedloans,repayloan)
Loangroups(microfinance)
Accountsummary/history,print&exportpaymentslists
Personalalerts&notifications
Onlinerequestforms(e.g.loanrequest)
Personaldocuments,groupdocuments(managedbyadministratorsoragents)
Manageaccountoperators(ausercancreateoperatorsandgivethempermissionstodospecifictasks)
Mobilebanking(SMS/WAP)
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Onlinesignup
Paymenttootherusersoradministration
Paymentrequest(twowaypayment)
Retrieveaccountinformation(optionalbrowsethroughpages)
Infotexts(textsmanagedinCycloscanberetrievedbysendinganSMSwithaspecificwords/alias)
Notifications&alerts(personalalertsandgeneralalerts&notifications)
Mailings(fromadministrationandagents)
BankandTelecomproviderindependent
CustomSMSoperations(programminginterfacethatallowsaddingnewoperations)
Cards/POS(PointOfSale)
Debit/creditcardsupport
DifferentsecurityoptionsPIN,securitycardcode,OTP(onetimeorsessionpassword)
Onlinecardmanagement(activate/cancel/blockcard,reset/blockPIN)
POS(PointOfSale)cashincashoutpayments
Dailytransactionoverview&printonPOS
ReceiptprintersupportforWebPOS
PrinttransactionreportsforspecificPOSoperators
ManagePOSdevicesonline(activate,deactivate,block)
Ecommerce
Marketplace(offers&wants)
Online(richtext)editor
Advertisementmatchingalerts
Memberdirectory
Contactlist
Messagingmodule
Brokering/agentsmodule
Businessreferralsandtransactionqualifications
Systemadministration&configuration
Dynamicsystemconfiguration(supportforvariouseconomicmodels)
Definecustomfieldsforusers,advertisements,loans,payments,memberrecords
Account&usermanagement
Importtools(users,advertisements)
Contentmanagement(translations,pages,images,styles)
Systemalerts&logging
Reports&Statistics
Systemtasks(e.g.setsystemoffline,indexing)
Easymaintenance(alldatastoredindatabase)
Automaticupgrades(versioncheckoninitializationprocess)
Strongsecurity(banklevelsecurityimplementation)
API(applicationprogramminginterface)forcommunicationwiththirdpartysoftware.
PluginsavailableforintegrationwiththeJoomlaCMS
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ARCHITECTURE

MVCStructure
CyclosisbuildaccordingtotheModelViewControllerconcept.Thereare3layers:
TheModelislocatedinthecyclos3project.Itisthelayerthatconnectstothedata.Thisprojectdefinesthe
entities, which are mapped to the database, and it defines the services that respond to calls from the
controllayer.Servicesaredefinedbyaserviceinterface(usedbytheweblayer)andalocalinterface(used
by other services). There is also a security layer for services, which implement the service interface and is
responsibleofcheckingthepermissionsforeachmethodbeinginvoked.
TheViewislocatedinthecyclos3_webproject,thosearethejsp'sshowingthepages.
TheControllerisalsolocatedinthecyclos3_webproject;thosearethejava(action)classesofthisproject
especially the ones under nl.strohalm.cyclos.controls. The connection to the model layer is done via the
serviceinterfaces.
Workflow
TheCyclosworkflow(throughalllayers)canbesummarizedasfollows:JSP>Struts/Spring>Service>DAO
There are two ways to interact with a web application: by selecting a link, which in most cases will be a
menuitem(GETrequest)orbyclickingthesubmitbuttonofaform(POSTrequest).Ontheserequeststhe
followinghappens:
AnyrequestwillbecaughtbyStrutsandpassedtoitsrelatedaction(Control)class(itgetsthisinformation
fromthestrutsconfigfiles).
All control classes extend the BaseAction class that takes care of the authentication and handles common
exceptions.
When a form is filled in and submitted Struts puts it into a form object (a class that extends the Struts
ActionFormclass).
The control class will put the form object into an object that is prepared for the model layer like a query
parameter object or entity object. DataBinders are used to convert strings into proper data types like
numbers, dates, entities, collection and the other way around (result data that need to be put back from
objectstostringsthatwillbeshowninthejsppages).
Thecontrolclasswillpassthedataobjectstotheserviceslayerthathandlesthebusinesslogic.
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To store or retrieve data from the database the services layer uses the DAO (data access object) layer.
TheDAOlayeraccessesthedatabaseviatheHibernateframework.
WhenalltheseactionsaredoneStrutswillforwardtherequestwithresultdata(intherequestobject)to
TilesandTileswillcomposethecorrectjspresultpage.
CyclosModelLayer
Entityclasses
AllentityclassesinCyclosextendthemainEntityandarelocatedinsubpacketsofnl.strohalm.cyclos.entity.
Each entity objeto has acces to the instance ID of the entity and some common methods like equals(),
hashcode()etc.
Objectrelationalmapping(ORM)usingHibernate
The Cyclos entities need to mapped the database tables. This is done in the hibernate mapping files. The
hibernatemappingfilesarelocatedinthesamepackagesastheentityclassesthattheymap.Forexample
in the directory as the ad entity cyclos3/src/nl/strohalm/cyclos/entities/ads you will find the ad entity
Ad.javaandtherelatedmappingfileAd.hbm.xml
DAO(DataAccessObject)layer
The DAO classes are the classes that are responsible for basic access (crud create/remove/update/delete)
tothedatabase.Theyarelocatedinthepackagecyclos3/src/nl/strohalm/cyclos/daoForeachentitythere
isaDAOinterfacethatdefinesthemethodsandaclasswiththeimplementation.ForexampleAdDAO.java
andAdDAOImpl.java
Serviceslayer
All business logic of Cyclos resides in the services. They have 2 interfaces: the "remote" service interface,
used by the web layer and a "local" interface, which extends the remote and adds methods used only by
otherservices(theycanbeseenasinternalmethods).Thenthereare2implementations:asecuritylayer,
whichimplementstheremoteinterfaceandissolelyresponsibleofenforcingtheaccessoftheloggeduser
to the current method and the service implementation itself, which is responsible of performing the
business logic. Services are located in cyclos3/src/nl/strohalm/cyclos/services and are grouped in logically
namedpackages(e.g.access,accounts).Someofthesepackagescontainapackagecalledexceptionswhere
theexceptionsrelatedtothegrouparelocated.
DTO(DataTransferObjects)objects
DTO objects are used in cases where complex parameters needed to be passed from view to the model
layerandsometimeswithinthemodellayer.TheDTOobjectsarelocatedinthesamelocationasitsrelated
service.
Aspects(AOP)
Theaspectclassesareinterceptingspecificservicemethodsandwilladdfunctionalityandbehaviorbased
onaspectrules.Typicalaspectusesarepermissionschecks,loggingandnotifications.
Theaspectclassesarelocatedincyclos3/src/nl/strohalm/cyclos/aop
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Utilclasses
Util classes are helper classes used by the services layer for all kind of common needed functions. Date
convertionsetc.TheUtilclassesarelocatedincyclos3/src/nl/strohalm/utils
Scheduling
Theschedulingclassesareusedtoexecutetasksthatneedtorunperiodically.Taskscanberegistredinthe
config file cyclos3/src/nl/strohalm/spring/scheduling.xml The scheduling classes are located in
cyclos3/src/nl/strohalm/scheduling
Setup
When the embedded database creation option is used Cyclos will create a default database with an
account,groupandpermissionstructureandwillpopulatethedatabasewithdefaultsettings.Ifyouwant
anything within a new function be part of the default database (field, permissons) you will have to add
themtotheSetup.javafilelocatedincyclos3/src/nl/strohalm/setup
DependencyinjectionusingSpring
The communication between the model, data and control/view layers in Cyclos3 is not hardcoded. The
Spring framework is used to tie the interface layers dynamically together. The binding of the layers is
specifiedintheSpringconfigurationfiles.

13. IKoruna
OVERVIEW
ThepaymentsystemIKorunaistheserviceofprocessingoffinancialoperations,receptionofpayments
and money transfers. The payment instrument of the system is an electronic crone denominated in the
formofanelectronicpaymentcard.Thereareseveralkindsofthecardsofthesystem"IKoruna",suchas
electronic, plastic contactless NFC card IKoruna card, a mobile phone and a sticker IKoruna mobile.
AccordingtotheirwillclientscanorderplasticNFCcardconnectedwiththeclient'saccountinsystemfrom
theirprivateoffice.

IKoruna card substantially broaden the possibilities of its owner. By means of NFC cards the owners
receiveaccesstofundsontheiraccountinthesystemIKorunabeingoffline.
Bymeansofapaymentsluiceitispossibletoacquireanewcard,aswellastofillupexistingortopayabill
intheshop.ThesystemisNFCreadycanbeaccessedfromamobilephone.
Paymentmeans:
ecommercepayments
emoneyexchange
moneytransfer
regularpayments
micropayments(games,dates,networkingandcommunities)
offlinepayments(supermarketsandshops,vending,transportsystems)
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Servicesformerchants(onlineandoffline):
paymentserviceprovision
accesstoallpaymentinstruments
collection&clearingofpayments
Eticketservices:
Issueondemand
Remotedelivery
Checkinsystem
ARCHITECTURE
As this platform is written on java it can work on any system where java is supported. The basis of the
systemisOracleGlassfishApplicationServer.GlassFishisanopensourceapplicationserverprojectstarted
bySun Microsystemsfor theJava EEplatform and now sponsored byOracle Corporation.GlassFish
supportsallJavaEEAPIspecifications,suchasJDBC,RMI,email,JMS,webservices,XML,etc.,anddefines
how to coordinate them. IKoruna usesEnterprise JavaBeans, Connectors, servlets, JavaServer
Faces,JavaServerPagesandseveralwebservicetechnologies.
GlassFish is based onsource codereleased by Sun andOracle Corporation'sTopLinkpersistencesystem. It
uses a derivative ofApache Tomcatas theservletcontainer for serving Web content, with an added
component calledGrizzly, which uses JavaNew I/O(NIO) for scalability and speed. IKoruna uses SOA
architecture,theconnectionbetweencomponentsisdonethroughSOAPprotocol.
TransactionscanbeoperatedthroughAPI.Admininterfacesisusedforcreatinguserrolesandcontrolling
them. Admin interface may be accessed using smart cards, certificates or login and password. IKoruna
works through hibernate which supports a variety of relational databases, however it is recommended to
usePostgreSQL 9.0 or Oracle Database 11.The use of OS Solaris and Oracle Database ensures high
productivityandspeed,perfectconditionsforunlimitedscalability.Itispossibletomakepaymentswiththe
helpofSMS,USSDcommands,NFC,iPhoneandAndroidapplications.

36
Conclusions
In the course of this paper we analysed main core banking solutions, defined their functionality, provided
thedetailsoftheirarchitectureanddescribedthetechnology.
Understanding the total cost of the complementary currency electronic payment system implementation
requires a detailed analysis of an exhaustive list of functionality as well as the precise scale of users
transactions and determined security requirements, which is beyond the scope of this paper. However
importantelementswhichshouldbeconsideredinclude:
annualmaintenancefeesorcoresolutiondevelopmentcosts
initialcostofimplementation
initialcostofcustomization
initiallicensecostofacorebankingsolutionpackage
costofserverandnetworkequipment,collocationindatacentres
It is reasonable enough to assume an approximate total complementary currency electronic payment
systemimplementationbudgetatabout2.54m.
Whatisevidentisthatformostlegacycoresystemenvironmentsthecostofmaintainingthesystemoften
consumes70%80%oftheavailablebudgetseverelyconstrainingtheabilityofITtoinnovate.Bycontrast
andassumingahighlyproductizedimplementation,theannualmaintenancecostofacoresystembecomes
highlypredictableandismadeupoftheannualmaintenancefeeandideally,anannualinvestmentinthe
effortassociatedwithupgradingtothelatestrelease.
There is no doubt that a core system replacement project can be expensive. Inhouse project attempts,
reportedinthepublicdomain,haveoftenbeendenominatedinUS$hundredsofmillions.
Eventhoughtheaverageinitiallicensecostforacorebankingpackageisnowreportedbyindustryanalysts
asbeingintherangeof$2Mto$4M,theactualcostofaprojectincludesmanymoredimensions.
However,therearesuchopensourcesolutionsasCyclosproject.ItismostlyusedasaTimebank,LETSand
Localcurrency.CyclosispublishedundertheGPL(opensource)licensemeaningthatitcanbedownloaded
for free and used at no cost; it can also be modified to the customers needs. However providing enough
securityforlocaluse,opensourcesolutionsarerarelyenoughsecureforalargescaleprojectperforminga
relativelylargeturnover.
Somevendorshavethecertaintyandexperiencetoshowthatitisrealistictobuildcorebankingsoftware
whichissoflexiblethatitcanmeetrequirementswithoutsourcecodemodification,orwherethecoreis
protected and customization is achieved through extensions of the platform. The number of vendors
holdingthisopinionisnotsubstantial,howeveritcaneasilybeseenthatthisclaimisconvincing.
What moreand more traditional adherents of the build inhouse policy havecome to understand is that
the resulting code is often far more sophisticated than that which a single country implementation would
achieve.
The only banks who have been able to successfully sustain a built inhouse policy are of course the truly
internationalbrandslikeCitibankorHSBC,wherethesheernumberofcountriestheyoperateinhaveoften
37
forced similar design constraints on their large teams of developers. But this just serves to confirm the
pointaboutthesophisticationoftrulyproductizedcorebankingsoftware.
Despite of providing advantages of full control over the system, easy modifying and compliance with the
architecture, development of a core banking system from the scratch brings crucial disadvantages which
includecostliness,muchlongertermsofdevelopmentandimplementation(notlessthan2030months)as
wellaspossibleerrorsindevelopment,scalingorimplementation.