Event-driven architecture: the foundation of next-generation banking
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About this content
Herman Hollerith created the first batch process in the 1800s – why do we still use it in the 2020s? Event-driven architecture (EDA) opens the door to a whole range of powerful, customisable, and compelling possibilities.
What you will find:
Why batch processing is becoming increasingly outdated
What is EDA, and how can it revolutionise financial services?
Critical use cases for EDA across your organisation
Answers to frequently asked questions about event systems
In an era of 24/7 banking, legacy batch processes are anathema to customer expectations. Any instance of downtime, even for a few hours, risks disappointing customers, reputational damage, and loss of competitive advantage. Sticking plaster workarounds offer only a fraction of the service level expected.
Event-driven architecture enables reduced dependencies, latency, and downtime. It reconstructs the view of a data stack and unlocks real-time availability.
This paper explores the specific shortcoming of batch processes. It investigates the benefits of adopting an event-driven model suited to the needs of a changing financial services ecosystem. Finally, it addresses concerns and methodological challenges in deploying these new processes.
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