Royal Bank of Canada (RBC) Financial Group is rolling out California-based Vitria's BusinessWare EAI software across the enterprise and has also contracted with the vendor for the development of a trade management and STP integration platform for its wealth management division.
Vitria says the technology will be used by RBC Financial Group to ensure its customers' data is automatically passed between systems without any manually re-keying of information.
Morteza Mahjour, senior vice president of enterprise information and technology services, RBC Financial Group, says the technology will "transform our business processes to be simple, flexible and efficient to enable a differentiated customer experience."
Vitria will also use its BusinessWare software to develop an end-to-end STP platform built on an enterprise application integration framework for the group's wealth management division, RBC Investments.
The vendor will also develop an interface from RBC Investments' proprietary trade management software to a commercial OMS application. Vitria will also provide an interface between RBC Investments' trading and accounting systems, enabling the real-time posting of transactions and seamless record keeping.
Jim Brown, vice president and director of information technology, RBC Investments, says: "The drivers for our selection of Vitria were improved connectivity between the people, processes and systems involved in the trading lifecycle combined with improved accuracy in dealing with trade execution and settlement."