Financial Services industry (FSI) has been traditionally aggressive in Financial System integration initiatives long before the days of B2B integration. FSI has been a front runner in use of EDI and had used various means including use of SWIFT standards. Collaborative processing has been the need of business for financial institutions long before many other industries talked about B2B.
Advances in internet technology have helped the financial services industry. However many players in B2B integration space have put their focus only on horizontal industries such as manufacturing, sales and distribution, trading and supply chain industry to the detriment of other specialized industries such as the financial services and travel automation industry. The offered solutions therefore, have not been best suited to these industries.
The investment, both in efforts and dollars that is required in using generic EAI and B2B solutions has not helped financial institutions in many scenarios as it did not really lower their cost of doing business or did not justify the ROI.
EdiX addresses this problem in various ways. EdiX has been used in financial services industry (banks) for B2B integration for many years, even before advent of internet based B2B solutions. As such, EdiX addresses the banking industry and its payables and receivables integration needs much more effectively.
EdiX addresses the needs of FSI - whether the requirement is to satisfy the SWIFT compatibility or migration to and or interoperability with XML interfaces - whether it is MAPICS or it is ARIBA - whether it is STP or it is auto-manual work-flow - whether it is batch mode or online.
EdiX is used for interfacing cash management solutions to various ERPs such as SAP, Oracle Applications, ARIBA Peoplesoft, MAPICS etc in many countries. EdiX supports various stages from extraction to enrichment in file/batch mode or direct object interface. EdiX can also be used for other FSI requirements including securities, liquidity management, treasury and campaign management to just name a few.
EdiX supports many functional components such as adapters, extraction, access control, business object management, security and authentication control, secure and encrypted transport, validation, translation, routing, output generation and enrichment processes. It also supports reporting and reconciliation in addition to exception handling.
EdiX supports special features for supporting SWIFT messages such as MT100. MT 102, MT940 etc. EdiX supports pseudo-swift and also specific formats such as idocs. EdiX supports XML parsing, translation and output generation.
EdiX supports FSI/Banking industry specific needs such as core translation requirements as well as interface applicationware requirements. It also supports inter-bank requirements.
EdiX is an ideal platform for Financial Services Industries integration need whether it be inter-banking needs, needs of interfacing with customer’s ERP or simply interfacing with different internal banking systems.
EdiX is highly scalable and is available on open and robust platform. EdiX is based on J2EE architecture and is based on advanced component architecture allowing flexibility in deployment configurations and profiling options.