CSC Adopts IFX Open Standards for Banking and Payment Software
Three CSC Systems Will Use IFX in Service-Oriented Architecture
EL SEGUNDO.- Computer Sciences Corporation (NYSE: CSC) today announced that it will incorporate the Interactive Financial eXchange Forum’s IFX standards as part of its service-oriented architecture (SOA) strategy in banking and payment software. Adopting open standards such as IFX makes it easier for CSC’s financial services clients to reuse software and move data between systems, thereby improving agility, flexibility and time to market.
CSC will use IFX standards as the foundation to develop Web-service interfaces for the company’s Hogan Systems core banking software, CAMS II Card & Merchant System and CheckVision, CSC’s check-image delivery and archive software. When complete, the three CSC systems will help clients connect to multi-channel third-party software and with business partners and providers more efficiently. Banks and payment processors will be able to share financial data regardless of technology platform. Clients needing to update their technical architectures quickly will have access to a preconfigured package of CSC services, business processes and technologies.
“Banks that use multi-channel integration strategies, and business process management (BPM), service-oriented architectures and BPM-enabling technologies should use IFX to promote data standards across channels,” said Gartner analyst Stessa Cohen in a July 2 report, “Hype Cycle for Banking and Investment Services Front-Office Technologies, 2007.” “Banks should evaluate vendors for their use of IFX protocols in data integration and messaging functionality.”
“Our strong commitment to SOA and the IFX open standard is driving innovation and new CSC offerings that will improve the ability of top-tier banks and payment processors to leverage the rich functionality of our applications,” said Jeffery Schwalk, vice president and managing director of the Banking division within CSC’s Financial Services Sector. “Incorporating IFX open standards into CSC’s applications will help our clients seamlessly integrate our systems with other best-of-breed software.”
CSC’s Hogan Systems core banking software is an integrated suite of banking applications that support deposits, loans, cards customer management and collections. Processing tens of millions of transactions a day for U.S. banks, Hogan is one of the industry’s most robust and scalable core banking solutions. CSC’s CAMS II is an in-house cards management system for electronic and cards-based products, including credit, debit, prepaid and stored value cards. CSC’s CheckVision e-Data Delivery application suite allows banks to provide electronic delivery of check images, lockbox and associated payment data to corporate banking customers.
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