WMS ready for new era of Service Orientated Architecture within Financial Services Industry.

Wealth Management Software plc (WMS) has recently launched the latest version of LISA® Orchestrate which is being used to implement Service Orientated Architecture and provide Business Integration Services within the Financial Services sector.

LISA® Orchestrate is a new services-oriented, business integration platform built upon XML and Web services standards. It enables the rapid integration of both applications and data, and simplifies the creation and management of business processes from those integrated systems.

Paul Foll, Group Sales Director, WMS commented:

‘WMS is enjoying early success with LISA® Orchestrate and has signed five contracts over the last five months, within the financial services sector. The software is being used for private client reporting in four private wealth manager organisations and stockbrokers, and it is being used to check asset allocation and investment strategy across the portfolio range within an institutional fund manager.’

‘LISA® Orchestrate is becoming very well established in the area known as ‘service orientated architecture’. LISA® Orchestrate responds to the challenging move away from the complex and costly systems which have prevailed in many industry sectors over recent decades, towards more standards based architectures’

Foll continued:

‘LISA® Orchestrate goes way beyond merely managing business processes and traditional workflow – it creates new services that are not already available in current day-to-day operations and makes them available across the enterprise. Different functions and personnel can tap into these pre-defined processes at any time.’

‘For example, once the process for calculating portfolio valuations has been pre-defined within LISA® Orchestrate, this process can then be triggered from any area or department within the organisation. This could include the front-line call centre team dealing with in-bound requests from clients, IFAs requesting valuations over the phone, via email or over the web, or simply an investment manager prompting the process manually from his / her own PC.’

‘LISA® Orchestrate will recognise commonalities in the prompts from existing systems and execute the process automatically. This means staff members and associates are able to retrieve the information without having to manually manipulate disparate systems – they simply prompt the action. This is just one process that can be incorporated into the specific ‘enterprise model’ as desired, other processes can easily be incorporated such as commission statement production, mandate checking or client statement generation.’

‘Ultimately the process is available centrally and becomes a ‘re-useable component’. Once triggered, LISA® Orchestrate will automate the process from start to finish right down to distributing a document in a chosen format and storing it an electronic document repository.’

Foll concluded:

‘LISA® Orchestrate features a powerful and extensible integration platform that will support the business aims of our clients without forcing them to adopt proprietary technology, retrain staff or radically change business practices.’

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