Composite Software, the best-of-breed data virtualization leader, today announced that the nation's fourth largest bank, Wachovia Corporation (recently merged with Wells Fargo & Company (NYSE: WFC), has selected its Composite Information Server.
Industry-renowned for its leadership in customer service, Wachovia has deployed the Composite software in its Corporate Investment Banking line to deliver Holdings and Offerings information even faster to customers.
With more than 125 different applications, Wachovia delivers a comprehensive suite of online products and services to its retail and small business customers, wealth management, commercial, corporate and institutional banking clients and employees.
Composite Software's data virtualization layer simplifies the complexity of accessing siloed and disparate data sources -- across multiple operational areas. Composite's technology reaches data where it is, and federates the disparate data into useful services and views, delivering what is needed, so that all the data appears as if it is in one location. This virtual, data-integration solution makes data available from numerous legacy systems across Wachovia, thereby increasing the availability of critical information in customer-facing applications.
"The Composite Information Server's ability to cache any of our data from multiple federated sources allows us to provide a single point of access for user applications, and delivers on-demand information as re-usable web services. This helps our sales people provide better service to our customers, therefore increasing business value and revenue," said Sid Vyas, managing director, Corporate and Investment Banking Technology, Wachovia. "Our data federation platform supports product and client data as well as the transaction data reporting and analytics to realizing our SOA strategy."
When dealing with data integration, "there is a difference between art and execution," adds Sanjay Mishra, director of data architecture at Wachovia. "We need to get the execution right. We need the data to be right in order to get the trading and risk departments up and running. It must be deliverable."
Additionally, Composite Software's technology plays an integral role in service-oriented architecture (SOA) initiatives that support delivery of best practices in shared services. These initiatives will accelerate applications' time to market, therefore realizing their business value sooner.