Article

Web services for cash management 'proved'

Staff report

The Financial Services Technology Consortium (FSTC) said it has validated a set of Web services for cash management system integration in a recent proof-of-concept test. However, the group found some shortcomings that need to be addressed.

The test was aimed at validating the use of Web services technologies for a

    Requires Free Membership to View

cash management application and data integration for bank-to-bank and bank-to-customer connections. FSTC brought together Bank of America, JPMorgan Chase, Wachovia, NEC and Sun Microsystems in a five-month initiative to test aspects of interoperability, security and the reliability of Web services technologies when applied to multi-bank reporting services in treasury management. The project produced a set of Web services, reference implementation and a next-generation treasury portal to demonstrate the utility of the services developed, according to FSTC.

Results of the project include:

  • A reference implementation generated from the test, comprised of a re-usable architecture and set of technical specifications that can be developed into commercial offerings, provides project participants with a set of baseline Web services and a set of supporting technical and business documentation for planning and developing banking applications in .NET and Java environments.
  • The assessment that more work in technical standards and interoperability is needed, particularly for applications and bank interactions that require end-to-end security and reliability to meet expected service levels.
  • The realization that additional industry efforts are needed to address issues of including attachments and the transport of non-XML data using SOAP messaging.

FSTC


There are Comments. Add yours.

 
TIP: Want to include a code block in your comment? Use <pre> or <code> tags around the desired text. Ex: <code>insert code</code>

REGISTER or login:

Forgot Password?
By submitting you agree to receive email from TechTarget and its partners. If you reside outside of the United States, you consent to having your personal data transferred to and processed in the United States. Privacy
Sort by: OldestNewest

Forgot Password?

No problem! Submit your e-mail address below. We'll send you an email containing your password.

Your password has been sent to: