Tag Archives: NACHA
In my previous blog on this subject, I talked about the incredible innovations of Hadoop as a new analytics engine, and the innovations of Informatica in removing un-maintainable and complex hand-coding. In this blog I want to drill into the world of Informatica ETL and Hadoop in order to show why these two innovations are critical to augmenting traditional data processing approaches as companies begin to look at leveraging Big Data for new analytics. (more…)
We were at the SWIFT Operations Forum Americas conference a couple of weeks ago, and again we heard one of the biggest pains from banks, corporate and SWIFT was the last mile problem– integrating SWIFT, BAI or other standard into back off systems. (more…)
With the global economy, financial standards and formats have proliferated. These standards enable organizations to accelerate, reduce costs, and ensure security of communicating critical financial information. In a survey conducted by AFP of banks and corporates who use BAI for critical cash reporting functions, “An overwhelming majority (84 percent) of corporate respondents would like the format and implementation guide standardized across all banks.”
But supporting one standard like SWIFT or BAI can mean creating hundreds of mapping rules with tens of validations, taking on average 3-4 weeks of development and testing. Compounding this problem is each standard changes every year, with some standards making hundreds of changes. Each change requires rigorous impact analysis, along with the actual development and testing time. If your organization can’t keep up with the speed of these changes, you risk penalties, failed trades or payments, and customer dissatisfaction. And all of this is for one standard. If you or your customers and partners support more than one standard, you need to somehow manage multiple standards, versions of standards, and conversions between versions of standards. Finally, getting this data (often coming from outside your organization) in all these different standards into your internal systems with all their formats is one of the biggest and most time consuming challenges. This delay can cost organizations 8% in annual revenue.