Palo Alto, Calif.—July 31, 2012—Federal Bank Ltd. deployed Fiorano Software’s Fiorano ESB to streamline its operations and accelerate roll-out of value-added services through multiple channels. Selected over larger traditional stack solutions primarily for its ease of use, low learning curve, near linear scalability, software-based high availability, reliability, security and error handling capabilities, Fiorano provides Federal Bank with massive savings in maintenance of their current integration code.
“Competing in the banking and financial services market today requires cutting edge technology,” said K.P. Sunny, Head of Information Technology at Federal Bank. “Customers are no longer content to wait so responsiveness, accuracy and customer service delineates the leaders from the laggards. Federal Bank made a conscious decision to invest in Fiorano ESB as its solution of choice. The power of the product is in its architectural simplicity which allows the Bank to put in place a flexible architecture that will scale linearly and allow business decisions to be speedily implemented at the IT level.”
Using the Fiorano ESB to integrate their core banking infrastructure, Infosys FINACLE and multiple retail channels including their SWIFT partners, the bank can now rapidly roll out services via ATMs, kiosks, hand-held devices, mobile and Internet. Fiorano's architecture supports an incremental deployment model, enabling deployments to be more modular and standardized, less risky and less expensive.
“With readily available, reasonably priced consulting services in India there is always a temptation to try and continue custom development for every project with a point-to-point style of integration,” said Sunny. “The question is how big you want to be and how fast you want to grow. The largest and best banks have shown that a solid middleware infrastructure is the secret to building an agile bank ready to roll out any new service that the market asks for. Revenue acceleration is only possible through cutting edge technology. This is the bottom line for us and we have chosen to go with Fiorano for precisely this reason.”