Deutsche Bank was having trouble processing wires in a timely and inexpensive manner. The existing system provided for some automation, but required too much manual intervention by employees. Tasks such as approving wires for transfer were taking up much of the day leaving other tasks unfinished and making wire processing a losing business for the bank. The bank was in a amazing situation of having to turn down business because it could barely handle existing wires. In addition, the employees were tired of basically running interference all day long. Clearly, a change was needed and it was needed fast.
Having understood the existing system, I made a decision to use my JobStream middleware platform to run what is a basically sequential process. JobStream enabled me to pull together all the disparate pieces of technology needed to process wires. The application provided a single entry point for wires via a web site. Users (normally mortgage houses) would upload a data file, then receive a confirmation tracking number. The JobStream Job would be scheduled for processing. This job would process the file through our database, running various validations. Then, the generated data would be handed off to yet another process that interacts with the Federal Reserve Bank.
Because of acquisitions, Deutsche Bank has several locations in US that process wires. Due to this situation, we used a series of loosely coupled applications to handle the entire load.
The deployment of the application resulted in significant changes to the way wires are processed within Deutsche Bank. First of all, wire processing is the fastest-rising money earner in the Deutsche Bank US subsidiary. It is now a very profitable venture. Secondly, the amount of hand-holding by employees has been reduced dramatically. Thirdly, since the application deployed, we've been doubling the amount of wires processed every month (geometric progression!).
- Language: Visual Basic 6
- NT Services: C# and the .NET framework
- Data Access: ADO 2.5 for applicaions written in VB 6
- Data Access: ADO.NET for the .NET framework
- RDBMS: Sybase Adaptive Server Enterprise 12.0
- RDBMS: Microsoft SQL Server 7
