While writing this book, I interacted with several people who work at financial services at higher and senior management levels, to understand the challenges faced by them in the financial sector. One of the feedback received was that competition was getting tougher in the financial sector with private houses entering the banking and investment sector, and government allowing them to operate legally as long as they comply with the regulatory requirements.
The survival of these institutions depends on a very thin profit margin. With competition at its highest level, it gives them minimum scope to reject customers' request or deny customer satisfaction. They also need to be technically up-to-date to survive and meet customers' demands. There is no single technology, business process, or a single software application that can solve all the business requirements of an enterprise organization—be it a bank, an insurance company, or any other financial services. The solution architecture always comes with multiple technologies and applications working closely together. Some of the standard and reference architectures and prebuilt process packs help to a large extent, especially with respect to regulatory requirements, compliance, standard-based architecture, best practices, and ease of use.
Before we begin, make sure to download the source code from the previous recipe.
In this recipe, we will expose a lightweight, fast-to-load mobile user interface for our customers, as a web-based user interface can be very heavy and non-user friendly on mobile devices. We will also create a few backend tables to display changes in the rate of interest of both fixed and variable rates over a period of time. We will use these tables in creating business reports and analytics for our business analysts.
Let's perform the following steps:
Loan EMI UI Fusion
ADF project that we created earlier in the Implementing a home loan process recipe.http://localhost:16200/cs
) and check in an HTML file that can be a public facing corporate page. Also, check in the related CSS and images files into a public folder, or a private folder, depending on the content securityThe output of this recipe is a customer facing portal that is also a part of a corporate intranet and extranet requirement, driven by the business process and business requirements.
Let us see how the whole setup of BPM, OSB, WebCenter Content, WebCenter Portal, BAM, and ADF Mobile work together from a financial services point of view.
BPM can be a great solution for financial services when viewed from the perspective of various roles, as discussed in the book. BPM with other Oracle Fusion Middleware technologies can help bring IT and the business closer together, increase customer satisfaction and corporate collaboration, and help to meet necessary regulatory requirements. It also helps to keep pace with changes in market trends and business dynamics, and to help adapt to new and emerging standards-based technologies and applications. As a next step, you might also want to have a look at ready-to-use Oracle BPM Process Accelerators for financial services.