Source: Fidelity National Financial
Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ("Fidelity") division announce that Fidelity will integrate Oracle BPEL (Business Process Execution Language) Process Manager into its Xpress Enterprise Services (XES) solution.
Fidelity XES is an integrated suite of standards-based banking components that provide robust functionality through a service-oriented architecture. With XES, financial services institutions can implement Business Process Management (BPM) capabilities and ensure system interoperability across the enterprise. XES provides an extensive inventory of services using the Interactive Financial eXchange (IFX) standard protocol and also supports proprietary XML and other legacy formats.
The integration of XES with Oracle BPEL Process Manager will allow financial institutions to streamline business processes and lower operational costs by providing best practice, enterprise-wide standards and consistency, and automating multi-step host application activities. "The high cost of maintaining multiple transaction processing systems plagues the financial services industry," said Dave Klebba, vice president, financial services for Oracle. "Additionally, these systems are often redundant. For example, multiple systems may have their own functions for accessing customer information or checking on credit history. Oracle BPEL Process Manager allows companies to begin the transition to lessen the costs of these systems by introducing a highly manageable "integration layer" composed of common processes that can be shared by the transaction processing systems. We think FIS is out in front of the market with its application architecture and available content. Financial services institutions should gain from their thought leadership."
Utilizing a service-oriented architecture, XES delivers operational efficiencies by allowing financial institutions to leverage their services and business processes across the enterprise. In addition, XES provides the business process, transaction, and integration management framework that is essential to enabling BPM. Using self-contained business functions represented by discrete web services, organizations can leverage these functions across multiple processing systems. "BPEL is an evolving standard across the industry and we wanted a strong partner who would help us lead our customers with a technology solution and strategy," said Frank Sanchez, president, leveraged product development for Fidelity Information Services. "Oracle BPEL Process Manager delivers the capability and future that we needed for XES and our core banking solutions. Combining BPEL with the industry standard IFX provides a very leverageable and efficient solution to the financial services market."