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A Partner’s Story: Using Integration to Grow Your Business trick Lannigan Marketing, Strategic Information Technology Ltd. nuary 27, 2010

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A Partner’s Story:. Using Integration to Grow Your Business. Patrick Lannigan VP Marketing, Strategic Information Technology Ltd. January 27, 2010. Who is Strategic Information Technology (SIT)?. 4 of the 6 largest financial institutions in Canada use Portfolio Plus. - PowerPoint PPT Presentation

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Page 1: A Partner’s Story:

A Partner’s Story:

Using Integration to Grow Your Business

Patrick LanniganVP Marketing, Strategic Information Technology Ltd.January 27, 2010

Page 2: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.2

Who is Strategic Information Technology (SIT)?

Approaching 140 employees Support staff is from banking industry Stouffville, ON, Canada

• 4 of the 6 largest financialinstitutions in Canada usePortfolio Plus

Page 3: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.3

Established 1988 Privately Owned

Page 4: A Partner’s Story:
Page 5: A Partner’s Story:
Page 6: A Partner’s Story:
Page 7: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.7

New Words

Page 8: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.8

Liquidity Crisis

liquidity crisis

Page 9: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.9

app for that

Page 10: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.10

Page 11: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.11

Portfolio Plus – Your Core Solution

Universal GatewayUniversal Gateway

Web AccessWeb AccessIVRIVR POS/ATMPOS/ATM XMLXML InterfacesInterfaces SwitchesSwitches

Progress Software ArchitectureProgress Software Architecture

Term DepositsTerm Deposits RetailRetail AccountingAccountingInvestmentsInvestmentsLoans/MortgagesLoans/Mortgages

Liquidity

Page 12: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.12

Implementations (Oct 2008 to Oct 2009)

Page 13: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.13

½ Billion Dollars in 45 Days

Page 14: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.14

Target Markets

Page 15: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.15

Specsavers: 1300 Stores and Growing

1 in 4 UK Eyeglass Wearers Purchase Eyeglasses at Specsavers

900,000 Direct Debit Customers

Page 16: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.16

Page 17: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.17

Two Progress Guys go into a Bar

Page 18: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.18

Manulife: Facts

Funds under management: $421 Billion Market Cap $32 Billion

Page 19: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.19

Page 20: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.20

Manulife Bank of Canada

Cabot Trust Co.

1993

Huronia Trust Co.

Regional Trust Co.Manulife Bank

of Canada

Page 21: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.21

Manulife Bank of Canada1994

Financial Advisors

Financial Advisors

Financial Advisors

Page 22: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.22

Manulife Bank Challenge: Differentiation

No differentiation for financial products Need products geared to higher wealth customers

Mortgage A Mortgage B Mortgage C

7 yr 5.25% 7 yr 5.15% 7 yr 5.3%

Page 23: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.23

Manulife Bank: Solution

Development of Manulife One product• Geared to sophisticated consumers• Save thousands of $$ for mortgages• Multiple accounts, multiple interest rates, combined• SIT developed software

Page 24: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.24

Manulife Bank

2001 2006 2007 2008 2009

$16 Billion Assets

Page 25: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.25

Portfolio Plus – Your Core Solution

Universal GatewayUniversal Gateway

Web AccessWeb AccessIVRIVR POS/ATMPOS/ATM XMLXML InterfacesInterfaces SwitchesSwitches

Progress Software ArchitectureProgress Software Architecture

Term DepositsTerm Deposits RetailRetail AccountingAccountingInvestmentsInvestmentsLoans/MortgagesLoans/Mortgages

Page 26: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.26

The Demand for Web Banking Skyrockets

Page 27: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.27

Portfolio Plus – Your Core Solution

Universal GatewayUniversal Gateway

IVRIVR POS/ATMPOS/ATM InterfacesInterfaces SwitchesSwitches

Progress Software ArchitectureProgress Software Architecture

Term DepositsTerm Deposits RetailRetail AccountingAccountingInvestmentsInvestmentsLoans/MortgagesLoans/Mortgages

Page 28: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.28

Manulife Bank: Challenge

Multiple days to approve new Manulife One Account• Appraisal of Property• Credit Check• Paper Forms

2 Days

Page 29: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.29

Manulife Bank: Solution

20 Minutes

Page 30: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.30

Solution: Portfolio Plus & Sonic

Page 31: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.31

Progress Software ArchitectureProgress Software ArchitectureCommercial Loans

Consumer Loans

Investment Loans

Investors & Partners

Mortgages (1st, 2nd, 3rd)

Variable Rate Mortgage

Lines of Credit

Secured/Unsecured

Sub Prime

Securitization Loans

Universal GatewayUniversal Gateway

Loans/MortgagesLoans/Mortgages

Loan and Mortgage Module

Web AccessWeb AccessIVRIVR POS/ATMPOS/ATM XMLXML InterfacesInterfaces SwitchesSwitches

Agriculture LoansAgriculture Loans

Term DepositsTerm Deposits RetailRetail AccountingAccountingInvestmentsInvestments

Page 32: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.32

Progress Software ArchitectureProgress Software Architecture

Universal GatewayUniversal Gateway

Loans/MortgagesLoans/Mortgages InvestmentsInvestments Term DepositsTerm Deposits RetailRetail AccountingAccounting

Investments Module

Registered Products

RRSP (Self directed, Non Self Directed, Locked In)

Income Paying Plans (RIF, LIF, LRIF)

Marketable Securities

Agent Management

Tax Free Savings Account (TFSA)

Registered Products

RRSP (Self directed, Non Self Directed, Locked In)

Income Paying Plans (RIF, LIF, LRIF)

Marketable Securities

Agent Management

Tax Free Savings Account (TFSA)

RESP/FESPRESP/FESP

Web AccessWeb AccessIVRIVR POS/ATMPOS/ATM XMLXML InterfacesInterfaces SwitchesSwitches

RDSPRDSP

Page 33: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.33

Universal GatewayUniversal Gateway

Progress Software ArchitectureProgress Software Architecture

Loans/MortgagesLoans/Mortgages InvestmentsInvestments Term DepositsTerm Deposits RetailRetail AccountingAccounting

Term Deposits Module

Non-Redeemable

Redeemable

Cashable

Step-Rate

Index-Linked

Annuity Deposits

Agent Management

Non-Redeemable

Redeemable

Cashable

Step-Rate

Index-Linked

Annuity Deposits

Agent Management

Web AccessWeb AccessIVRIVR POS/ATMPOS/ATM XMLXML InterfacesInterfaces SwitchesSwitches

Page 34: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.34

Universal GatewayUniversal Gateway

Progress Software ArchitectureProgress Software Architecture

Loans/MortgagesLoans/Mortgages InvestmentsInvestments Term DepositsTerm Deposits RetailRetail AccountingAccounting

Retail Module

Chequing

Savings

Unsecured Line of Credit

Secured Line of Credit / HELOC

Segregated Line of Credit

Teller Drawers

Tiered Interest

Custom Fees

Chequing

Savings

Unsecured Line of Credit

Secured Line of Credit / HELOC

Segregated Line of Credit

Teller Drawers

Tiered Interest

Custom Fees

Web AccessWeb AccessIVRIVR POS/ATMPOS/ATM XMLXML InterfacesInterfaces SwitchesSwitches

Page 35: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.35

Universal Gateway

Universal GatewayUniversal Gateway

Progress Software ArchitectureProgress Software Architecture

Loans/MortgagesLoans/Mortgages InvestmentsInvestments Term DepositsTerm Deposits RetailRetail AccountingAccounting

Web AccessWeb AccessIVRIVR POS/ATMPOS/ATM XMLXML InterfacesInterfaces SwitchesSwitches

Page 36: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.36

Specsavers: Direct Debit

Universal GatewayUniversal Gateway

Progress Software ArchitectureProgress Software Architecture

Loans/MortgagesLoans/Mortgages InvestmentsInvestments Term DepositsTerm Deposits RetailRetail AccountingAccounting

Page 37: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.37

Custom Loan Origination

Universal GatewayUniversal Gateway

Progress Software ArchitectureProgress Software Architecture

Loans/MortgagesLoans/Mortgages InvestmentsInvestments Term DepositsTerm Deposits RetailRetail AccountingAccounting

3rd Party Loan Origination

Page 38: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.38

Connectivity to “Middle Office”

Universal GatewayUniversal Gateway

Progress Software ArchitectureProgress Software Architecture

Loans/MortgagesLoans/Mortgages InvestmentsInvestments Term DepositsTerm Deposits RetailRetail AccountingAccounting

Middle Office

Page 39: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.39

Open Banking with Portfolio Plus

AccountingRetailInvestmentsTermsLoans

Open Banking Interface

Page 40: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.40

Page 41: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.41

Peer-to-Peer (P2P) Lending

Page 42: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.42

SOA Example: add_client()

User Transaction

Web Server

add_client()

Open Banking Interface Message

<NewClient><fname>Patrick</fname><lname>Lannigan</lname><addr1>98 Karma</addr1><city>Markham</city></NewClient>

User

Page 43: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.43

Open Banking with Portfolio Plus

AccountingRetailInvestmentsTermsLoans

PythonRubyPerlPHP

FundServCANNEX

RolerDoxim

ComputerTalk

EverlinkMetavante UK

WebSphereC#

JMS.NET

Amazon S3Amazon E2GoogleAppSalesforce

CloudPotential

Open Banking Interface

Page 44: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.44

Page 45: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.45

Big Bank (or Big Company)

Big Bank

Page 46: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.46

Page 47: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.47

Page 48: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.48

Page 49: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.49

Key Recommendations

1.Open Application

2.Rationalize API

3.Concentrate then Integrate

Page 50: A Partner’s Story:

© 2010 Progress Software Corporation. All rights reserved.50

Questions?

Patrick LanniganVP Marketing

Strategic Information TechnologyJanuary 27, 2010

[email protected]