Data Hub for Banks in Austria
The Österreichische Wertpapierdaten Service GmbH (ÖWS, Austrian Securities Data Service) is the data hub with respect to securities for nearly every bank in Austria. ÖWS employees process around 300 inquiries from participant banks every day. These activities consist of the investment and changes in domestic and foreign securities as well as processing events relating to these financial instruments. Decisive weak points had been identified in the system whereby requirements had previously been transmitted by the banks via email to ÖWS: It was not possible to realize a comprehensive workflow between the participants via email alone. The work could only be divided amongst the various employees manually. As a result, it was difficult to implement a prioritization of the inquiries received. Queries could not be assigned to the relevant incidents and archiving could only be performed within the employee's personal email client. It was impossible to perform a variety of evaluations and consequently was utterly impossible to obtain an objective quality measurement.
In a joint project with fecher, a solution involving an interbank workflow based on internet technology was designed. The application "FACE" (Financial-Instruments Administration Communication Environment) implements this workflow between the ÖWS and its clients. Incoming requests are sent to one of two teams, depending on the type of request. All requests that have not yet been assigned can be found in the respective team's inbox (Team Inbox Pool). From there, they are distributed. Every ÖWS employee always has an overview of the status of the requests to be personally processed (Personal Inbox Pool) and of the Team Inbox Pool. A bank can at all times call up the processing status of inquiries it has submitted. Banks can automatically obtain an email when a request has been completed.
The software was realized as a multi-layer application based on Microsoft technologies such as ASP.NET. The requisite business logic resides on a central server, yet the software interface is available through a browser such as Internet Explorer. Using this method, it is not necessary for the user to install any software and new versions are simply made available. The application is run on an additional application server located in the computer center run by Raiffeisen Informatik (Austria's largest private computer center operator). Microsoft SQL server is used as the database server. Since the introduction of FACE, fecher is now also handling the ongoing maintenance and further development of the software.
At a later date, using the same platform, fecher also developed the application eTOPIC for the ÖWS, which helps with the planning and documentation of meetings.
Due to the excellent cooperation and the efficiency of the tools used, our application FACE was realized - at an optimal cost-benefit ratio - to our utmost satisfaction.