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Check out our video here!IBM Z is an industry-unique computing platform. It powers Clouds, including pay as you go services in the IBM Cloud. It builds Industries, serving as the transaction processing core for 2/3 of the Fortune 100, including the world's top Banking, Insurance, and Telecoms companies. And as we look to the future and to hybrid cloud, it is fueling innovation through Linux. IBM Z helps make embracing hybrid cloud easier by keeping data safe, encrypted, and resilient, and its cloud-native capabilities help develop and deploy apps and services more easily across hybrid clouds – with the help of Red Hat OpenShift and IBM Cloud Paks.
The IBM Garage Banking showcase is unique asset, representative of a real bank. The banking systems that are used in this showcase run a mixed workload of real-world financial transactions, including cash withdrawals, deposits, mortgages, and loans. The core-banking application runs on CICS/COBOL and stores customer and account records in Db2 for z/OS.
The initial focus of the showcase team was to create a multi-channel core-banking environment that could run a representative banking workload. As the showcase evolved, we adopted an approach based on service-oriented architecture to reuse the CICS core-banking system in distribution channels.
The fundamental components of the multi-channel integration and core banking renovation still form the basis of the showcase. However, the showcase also evolved in other directions such as payments, Cloud and multi-Cloud enablement, analytics, DevOps and security.
The objectives of the banking showcase project are to:
To achieve these objectives, we use the showcase to address five transformation themes:
Banking Digitalization and Hybrid Cloud
The competition is leveraging new digital technologies enabling new business and operating models, the banks have to digitally transform their operations, operating models and technologies to compete. In parallel, new regulations force the banks to open their bank-end legacy to third party providers like PSD2 in Europe.
Payments and Instant Payments
With the advent of instant payment schemes, payment standards are moving toward constant availability and immediacy. Banks running core payment system have to shift from a batch-based architecture to a real-time solution. Most of the banks aiming to provide instant payments will face major challenges like: latency, availability and fraud detection.
Enterprise DevOps
Banks need agile product and technology development skills to bring new products and capabilities to market much quicker than today. DevOps and Cloud have emerged as essential parts of the bank IT strategy to achieve the speed needed while increasing efficiency through standardization and automation. New ways of working are emerging as well as new anatomy of the application landscape (micro-services based). Core banking systems running on the Mainframe have to fully embrace those new standards, new ways of working, and new application anatomy.
Risk, Compliance, Security and Resiliency
Expanding banking channels and partner ecosystems, cloud-based solutions and digital platforms are driving increased security risks, threats, and fraud.Banks have to optimize risk, compliance and security by leveraging existing security capabilities of the platform and by deploying fully integrated approach incorporating technologies such as advanced analytics, AI, secured cloud.
Analytics and Real Time Analytics
Know what the banking customers want before they do. The new and winning banking models of tomorrow will succeed by delivering on insights from their vast stores of data, enabled through advanced analytics. Banks are looking for competitive advantage in many areas like underwriting, pricing, fraud detection, risk management. Rather than moving their data out of the mainframe, banks are looking for the mainframe ability to perform analytics "on the fly" while data is in motion.
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