Whitepaper
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- Why batch processing is becoming increasingly outdated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
Overview
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.
