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Home > Resources > Case Study > I&M Bank
I&M Bank Fast Tracks Digital Roadmap with Fiorano
I&M Bank is ranked as one of the top 10 banks in Kenya, serving the banking needs of large and medium-sized corporations and individuals. Its product suite includes banking services, trade services, foreign exchange, payment cards, ecommerce, mobile banking, internet banking, ATMs, agency banking and bank assurance.
I&M Bank Fast Tracks Digital Roadmap with Fiorano
I&M Bank is ranked as one of the top 10 banks in Kenya, serving the banking needs of large and medium-sized corporations and individuals. Its product suite includes banking services, trade services, foreign exchange, payment cards, ecommerce, mobile banking, internet banking, ATMs, agency banking and bank assurance.
USE CASE
Core banking integration. Citizen integrators
BENEFITS
Agility. Customer satisfaction
INDUSTRY
Banking
KEY PRODUCT COMPONENTS
Fiorano ESB, Fiorano Tools
Business Challenge
I&M Bank had a complex IT landscape with scores of Core and Business Applications running on HP, Oracle and Microsoft platforms together with a fully redundant Disaster Recovery (DR) site. I&M Bank's need for digital transformation arose from its new strategy aimed at giving each market segment a customized proposition to complement their lifestyle and financial requirements.
The use of multiple point-to-point connections was impeding this goal due to its rigidity, high maintenance and management costs. The bank uses Finacle, the Core Banking System (CBS) from Infosys, and required a flexible architecture to fast track its Digital Roadmap as it was struggling to keep pace with fast-changing business and customer needs.
The bank faced challenges posed by fluctuating delivery times and increased costs due to the absence of an agile customer facing environment. I&M Bank was looking for a platform to ease integration between their diverse systems and applications.
$ 1.57 bn
ASSETS
Fiorano integrates Core banking system
to diverse applications enabling an agile,
customer-centric environment
Business Challenge
I&M Bank had a complex IT landscape with scores of Core and Business Applications running on HP, Oracle and Microsoft platforms together with a fully redundant Disaster Recovery (DR) site. I&M Bank's need for digital transformation arose from its new strategy aimed at giving each market segment a customized proposition to complement their lifestyle and financial requirements.
The use of multiple point-to-point connections was impeding this goal due to its rigidity, high maintenance and management costs. The bank uses Finacle, the Core Banking System (CBS) from Infosys, and required a flexible architecture to fast track its Digital Roadmap as it was struggling to keep pace with fast-changing business and customer needs.
The bank faced challenges posed by fluctuating delivery times and increased costs due to the absence of an agile customer facing environment. I&M Bank was looking for a platform to ease integration between their diverse systems and applications.
$ 1.57 bn
ASSETS
Fiorano integrates Core banking system
to diverse applications enabling an agile,
customer-centric environment
"Fiorano has made our digital journey easy and cost effective."
Rohit Gupta, Group CIO, I&M Bank
"Fiorano has made our digital journey easy and cost effective."
Rohit Gupta, Group CIO, I&M Bank
Solution
I&M Bank undertook a detailed evaluation of several ESB vendors based on their key requirements. Some of the key criteria were Ease of use and learning curve, Scalability, Speed of deployment and the overall 5-year total cost of ownership (TCO). Fiorano ESB, offering a combination of high flexibility with low resource consumption fared best on these criteria as compared to other providers making it the preferred choice as an ESB vendor for I&M Bank.
Following the initial implementation, Fiorano Senior Solution Architects provided knowledge transfer sessions to I&M Bank's IT team. These sessions helped them work independently to integrate KITS (a switch enabling interbank transfer of funds) with their existing IT architecture. The IT team at I&M Bank, now equipped with Fiorano, can handle all integration and business flow creations themselves.
Solution
I&M Bank undertook a detailed evaluation of several ESB vendors based on their key requirements. Some of the key criteria were Ease of use and learning curve, Scalability, Speed of deployment and the overall 5-year total cost of ownership (TCO). Fiorano ESB, offering a combination of high flexibility with low resource consumption fared best on these criteria as compared to other providers making it the preferred choice as an ESB vendor for I&M Bank.
Following the initial implementation, Fiorano Senior Solution Architects provided knowledge transfer sessions to I&M Bank's IT team. These sessions helped them work independently to integrate KITS (a switch enabling interbank transfer of funds) with their existing IT architecture. The IT team at I&M Bank, now equipped with Fiorano, can handle all integration and business flow creations themselves.
Fiorano Deployment Architecture at I&M Bank
Phased implementation
The solution implementation took place in several phases. The first phase for the Alternate Banking Channels was completed in four months with an engagement from a single bank resource.
In the second phase, I&M Bank moved other applications to Fiorano without any engagement from the Fiorano team. Fiorano ESB exposed several of the I&M Bank's services such as: Core Banking Transactions, Kenya Revenue Authority (KRA) services, SMS and ATM alert, IPRS (Integrated population registration system). These services are consumed by multiple peripheral systems for: Agency Banking, Mobile Banking, Investment Banking, ATM, KITS - an interbank transfer switch provided by KBA (Kenya Banker's Association).
The distributed architecture of Fiorano allowed seamless integration of exposed services with channel applications while messaging queuing took care of guaranteed data delivery with message logging and tracking systems.
Monitoring & Tracking
Messages routed via Fiorano are now logged for auditing and tracking which enables the IT team to rapidly perform root cause analysis of any issue.
In case of a functional breakdown, the Fiorano platform alerts the functional team in real time, avoiding any business disruptions. The Document tracking (Message logging) helps the IT team analyze and resolve issues quickly with a significantly improved customer response level.
Fiorano Deployment Architecture at I&M Bank
Phased implementation
The solution implementation took place in several phases. The first phase for the Alternate Banking Channels was completed in four months with an engagement from a single bank resource.
In the second phase, I&M Bank moved other applications to Fiorano without any engagement from the Fiorano team. Fiorano ESB exposed several of the I&M Bank's services such as: Core Banking Transactions, Kenya Revenue Authority (KRA) services, SMS and ATM alert, IPRS (Integrated population registration system). These services are consumed by multiple peripheral systems for: Agency Banking, Mobile Banking, Investment Banking, ATM, KITS - an interbank transfer switch provided by KBA (Kenya Banker's Association).
The distributed architecture of Fiorano allowed seamless integration of exposed services with channel applications while messaging queuing took care of guaranteed data delivery with message logging and tracking systems.
Monitoring & Tracking
Messages routed via Fiorano are now logged for auditing and tracking which enables the IT team to rapidly perform root cause analysis of any issue.
In case of a functional breakdown, the Fiorano platform alerts the functional team in real time, avoiding any business disruptions. The Document tracking (Message logging) helps the IT team analyze and resolve issues quickly with a significantly improved customer response level.
Results
Significantly lower learning curve: Fiorano ESB offered a lower learning curve. Whereas it would take an engineer almost six months to get productive on other systems, a new resource can train and become part of the live Project team with Fiorano in just a week.
Empowering citizen integrators: The integration of new services and interfaces is now handled independently by the IT team at I&M Bank. Automatically configuring the underlying middleware allows the logical process design to be mapped directly to physical services distributed across the ESB, empowering non-technical business-users to compose, deploy and modify event-driven business processes.
Expeditious launch of services: Fiorano flows and prebuilt adaptors with the GUI based drag and drop design makes it easy to use and implement changes or create new integrations to third parties without having to go through extensive program/test/deploy cycles. This reduces project integration timelines and enables I&M Bank to quickly adapt to market needs and launch new services.
Driving profitability: I&M Bank saved significantly on development cost as Fiorano ESB is a codeless integration platform. Fiorano ESB obviated the need to invest in additional software resulting in reduction of overall costs.
Results
Significantly lower learning curve: Fiorano ESB offered a lower learning curve. Whereas it would take an engineer almost six months to get productive on other systems, a new resource can train and become part of the live Project team with Fiorano in just a week.
Empowering citizen integrators: The integration of new services and interfaces is now handled independently by the IT team at I&M Bank. Automatically configuring the underlying middleware allows the logical process design to be mapped directly to physical services distributed across the ESB, empowering non-technical business-users to compose, deploy and modify event-driven business processes.
Expeditious launch of services: Fiorano flows and prebuilt adaptors with the GUI based drag and drop design makes it easy to use and implement changes or create new integrations to third parties without having to go through extensive program/test/deploy cycles. This reduces project integration timelines and enables I&M Bank to quickly adapt to market needs and launch new services.
Driving profitability: I&M Bank saved significantly on development cost as Fiorano ESB is a codeless integration platform. Fiorano ESB obviated the need to invest in additional software resulting in reduction of overall costs.
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© 2020 Fiorano Software and Affiliates. All Rights Reserved. Privacy Statement | Terms of Use