Metavante Consumer ebanking

Transcription

1 Ellen Walsh Product Report 5 September 2002 Metavante Consumer ebanking Summary Consumer ebanking is available as a packaged or outsourced product and runs under the Metavante financial framework J2EE architecture with Internet banking applications sitting on top of it. Table of Contents Overview Analysis Pricing Competitors Strengths Limitations Insight List Of Tables Table 1: Metavante Consumer ebanking Features/Functions Gartner Entire contents 2002 Gartner, Inc. All rights reserved. Reproduction of this publication in any form without prior written permission is forbidden. The information contained herein has been obtained from sources believed to be reliable. Gartner disclaims all warranties as to the accuracy, completeness or adequacy of such information. Gartner shall have no liability for errors, omissions or inadequacies in the information contained herein or for interpretations thereof. The reader assumes sole responsibility for the selection of these materials to achieve its intended results. The opinions expressed herein are subject to change without notice.

2 Corporate Headquarters Metavante Corporation P.O. Box Milwaukee, WI 53224, U.S.A. Tel: Internet: Overview In February of 1998, Brokat Information Systems opened a subsidiary in Atlanta, Georgia to concentrate on the North American financial services market. In September of 2001, Metavante acquired Brokat s U.S. Corporate, Retail and Business Internet Banking Product Suites. Metavante wanted to own the technology and also wanted to migrate to the Java 2 Enterprise Edition (J2EE) platform, which Brokat had already done. Table 1: Metavante Consumer ebanking Features/Functions Enrollment Account Information Electronic Bill Payment Self-enrollments give users the ability to enroll and log in immediately to view account balances, history and transfer funds Ability to view Metavante Deposit and Loan account balances in real time Account preferences allow users to create nicknames, to designate accounts for viewing online and to define account order on the summary page Transaction sorting/filtering allows users the ability to create flexible views of their demand deposit account (DDA) and Loan accounts Real-time account details provide end users with account transaction details for Metavante Deposit and Loan accounts for current/prior days (except automated teller machine [ATM]) Total Systems batch interface provides ability to view credit card account balances Credit Card Statement activity provides account transaction details for credit card accounts for prior days and ability to make payments Download to personal financial management (PFM) via Web connect, active statements Quicken Interchange Format (QIF) or comma-separated value (CSV) Stop payment for checks Intrabank transfers for funds transfer to accounts of that financial institution Interbank transfers to and from external accounts User-defined alerts Automated online bill payment Schedule one-time, future, current-day and recurring bills Pay multiple bills from one screen Select more than one online account to pay bills from Define and manage list of payees Payment type indicator displays if payment is made by paper check or automated clearinghouse (ACH) by bill payment provider Check reorder via Harland, Clarke or Deluxe Real-time check image viewing for canceled checks 5 September

3 Table 1: Metavante Consumer ebanking Features/Functions Preferences Change address or user ID View disclosures and privacy statements Customer Support Via Metavante Business Center 24 7 Online help and ability to send secure s from Internet banking session Impersonate customer by logging into the systems as that customer. Does not allow the administrator to transact business on the customer s behalf Administration Bank entitlements set customer service representative (CSR) access at group or individual level Reset passwords, change status to inactive or active Manually enroll new customers, fulfill pending requests, unenroll customers Activate or deactivate bill payment or change funding account Change customer status, pricing plan, profile, service fees, and user ID and password Control customer access to linked accounts Caller verification provides CSR group access to validate customer identification Reports Scheduled or ad hoc reports available Scheduled reports include customer, bill payment, internal/external transfers, credit cards, downloads, bank mail, check image, stop payments, check reorder Credit card reports for newly enabled credit card customers Bill Pay Summary report that summarizes users and Consumer Service Provider (CSP) data. Detail report also available On-demand reports based on from/to dates, user ID, success/failed, service, pending/processed or activity type for customers, transfers, bill payments, credit cards and general information Marketing Director Identifies customer behavior and presents messages or banner ads based on business rules created by the financial institution (FI) Administrator can select a banner ad and assign business rules and properties to that banner ad Banner ads can be assigned a unique ID for a marketing campaign and can appear as a default for customers who do not fit any of the active campaigns Banner ads can be used multiple times The FI can be notified via if the banner ad is clicked on/viewed a predetermined number of times User Billing Provide the financial institution the ability to track and bill customers based on defined pricing plans Application Server IBM WebSphere, BEA WebLogic Support Operating System Sun Solaris, Windows NT, Windows 2000 Support Database Support Oracle (default); other SQL0-compliant databases on request Core System Metavante, Weiland DDA; others on request via data handlers Support Web Browser HTML, Java/JavaServer Pages (JSP), Java Script, Extensible Markup Interface Language/Extensible Stylesheet Language (XML/XSL) Programming Languages 5 September

4 Table 1: Metavante Consumer ebanking Features/Functions Wireless Open Financial Exchange/ Interactive Financial Exchange (OFX/IFX) support Via interface to Phone.com servers Analysis Architecture Consumer ebanking is based on the Metavante Financial Framework, a set of prefabricated software building blocks, which include a collection of classes, interfaces and patterns. These building blocks provide common functionality used in financial applications. Programmers can use, extend or customize these building blocks to create specific financial solutions. Applications such as Corporate, Small Business or Consumer ebanking sit on top of the financial framework. The framework is a J2EE-compliant system and is based on the Enterprise JavaBeans (EJB) open systems, enterprise-class framework specification. The Financial Framework is 100 percent pure Java, and its architecture is multitiered where the layers are loosely coupled. Communications between the layers is handled via the Record class or the XML representing the Record class. The framework provides the following functions: System setup and maintenance Entitlements Approval and constraints Customer and user setup and maintenance Exception handling Layer communications Session cookies Database access Logging Security Auditing Billing The Financial Framework is built on top of the Enterprise Application Server. Metavante s Consumer, Business and Corporate ebanking products (suites of applications) and applications are integrated into the Financial Framework. This framework provides an architectural platform for financial applications. Application developers may use the framework architecture to integrate their application-specific code objects into this framework. The Financial Framework contains the building blocks of its Core and Bank Side channel, and the specifications for the Customer Side or Corporate channel, the Bank Side channel and the Core of the system. The Enterprise Application Server provides the execution infrastructure for the Financial Framework Core. This core provides the business logic and uses database application programming interfaces (DB APIs) for database access. 5 September

5 The Financial Framework and customer application service is a multilayered system. Online customers use HTML pages, and administrative clients use Java applets. The servers perform Web, application and database functions. The Web Server and Application Server represents the Business Logic layer. Consumer Internet Banking Consumer ebanking is offered both as an in-house solution or outsourced via the Metavante Data Center. Metavante has built financial applications using modular business objects on a common platform so that business objects can be recombined into new business solutions and financial portals to meet market demand. All of Metavante s financial objects share the common banking infrastructure and are built on the standard EJB server, making them easily reconfigurable. The objects can be reused across Retail, Business and Corporate Banking applications. The Metavante Consumer ebanking product utilizes a multilayer architecture: Data Access Layer with data handler interfaces to Metavante DDA and Weiland DDA systems, as well as Data Handlers to other legacy systems and databases. Application Layer utilizing Java EJB Objects. It contains entitlements, user profiles and reusable business objects for consumer business and corporate users. The Presentation Layer has a customer look and feel, as well as multilingual support. It utilizes XSL objects and JSP to present Web pages to end-users. XML is used to communicate between the layers. The applications run on EJB-compliant application servers such as IBM WebSphere and BEA WebLogic. Customization Through the use of tag handlers, Consumer ebanking has the ability to customize the JSP used to present the user interface through property files, style sheets and XSL. Internationalization allows the financial institution to support multiple languages. Data presentation can be customized for the bank through scheme font types, font sizes, color schemes, text, menu order and menu position. Back-end interfaces can also be customized. This is done through Java object components within Consumer ebanking called handlers. These handlers can interface in either real time or batch and can be created to interface with any system. These components allow for complete customization of the backend interfaces on a bank-by-bank basis utilizing Data File Definitions (DFDs) to describe the interface fields and their order and to allow easy updates without additional coding. The Consumer ebanking application components communicate with the data handlers through XML. Adoption Marketing Services Metavante works in conjunction with the customers to plan and execute marketing programs aimed at the complete life cycle of the customers. Involvement begins with strategic discussions regarding the financial institution s goals and objectives around the product. Programs are designed for attracting new customers, activating current customers and retaining current users. Metavante develops all material in conjunction with a focus group of customers and continually develops and distributes new material. Metavante also has a dedicated compliance officer to help financial institutions with compliance issues. Pricing An implementation fee is charged for the application service provider (ASP). Transaction fees are also charged and vary according to service and volume bill payments, for example. Packaged applications 5 September

6 are charged a license fee, as well as annual maintenance. Credit is given to those that have been in an ASP environment and wish to bring the product in-house. Metavante currently has no customers who have converted from an ASP to an in-house model. GSA Pricing No. Competitors Packaged Application Corillian Unlike Metavante, which supports a broad range of platforms, Corillian supports only Microsoft environments. Corillian utilizes its own proprietary Voyager middleware. Rather than developing the functionality itself and providing an integrated suite, Corillian relies on partners for extended functionality. Corillian is starting to support the.net architecture for features such as personalization. Although most of Corillian s clients support the packaged application model, Corillian is starting to gain customers in the ASP model. Financial Fusion Financial Fusion provides a suite of e-finance solutions for Web and wireless applications, as well as enterprise middleware for retail banking and institutional electronic trading. The primary architecture is based on EJB. Financial Fusion also offers adapters for protocols used in the communication of financial information in both the capital markets and banking (Society for Worldwide Intebank Financial Telecommunication [S.W.I.F.T], Financial Information Exchange [FIX], OFX/IFX). Like Metavante, Financial Fusion also separates the business logic from the application layer. Community Banking Market/Credit Unions Digital Insight Digital Insight offers the Axis Internet banking product in an ASP-only environment. Digital Insight does not integrate with call centers, except with the lending product. Digital Insight utilizes a mixture of Unix and Microsoft NT. The company provides a management console for administration tasks and utilizes a common data dictionary. Digital Insight supports bill presentment through a relationship with Checkfree for WebPay 3.2. The company acquired Virtual Financial and is in the process of integrating its product line. Funds Xpress Funds Xpress offers an Internet banking product in a Unix-based ASP-only environment for institutions with less than $10 billion in assets. FundsXpress assigns each account a client executive to help with driving adoption. FundsXpress also has a dedicated compliance officer to help financial institutions with compliance issues. Online Resources (ORCC) Online Resources provides an Internet banking solution for an ASP environment. ORCC has a very strong bill payment product that is integrated with its Internet banking product. ORCC utilizes a datamining product to help customers achieve greater market penetration. ORCC also provides integrated call center support. The company has strong back-end integration with plug-ins that allow it to look like an ATM to core processing systems. 5 September

7 Core Banking Market Sanchez Sanchez e-profile is an outsourced solution that provides an Internet bank interface to the Sanchez Profile Core Processing system. Presentation, account origination, check production and bill payment are provided. In addition, e-profile provides back-end functionality, including data center operations, transaction processing, statement processing and check clearing. Eontec Like Metavante, Eontec is based on a EJB Server with business components that support financial services transactions (such as open account, deposit, loan origination, bill payment), customer contact and customer services. The Eontec Multichannel Service is a multichannel architecture that provides services within the EJB server. These services enable delivery of financial transactions to customer touchpoints and to back-end systems and also provide system access, logon, security and administration. A Branch module supports all aspects of over the counter activity at branches and other bank outlets. Internet Banking provides secure banking services delivered over the Internet. Alltel Alltel s Internet banking product is designed to run with other Alltel products, such as core banking or branch products. Although it competes with Metavante, most customers who purchase Alltel Internet banking products are already using some other Alltel product. Alltel s call center product is often used in conjunction with Internet banking. Fiserv Fiserv offers Internet banking as an add-on to its Comprehensive Banking System (CBS) product. It also offers Internet banking through ITI s Premier product line. Strengths Intrabank Transfers Customers can transfer money between accounts at other financial institutions, as well as accounts at the hosting financial institution. Common Business Objects Across All Financial Applications Other financial programs share common business objects, administrative services, access rules, data models and back-office interfaces. This means that business objects for the Retail product can be shared with other Metavante applications, such as small business banking, without having to recreate them. The Retail, Corporate and Small Business products share a common architecture. Bill Payment Integration Although Metavante Consumer ebanking is not yet fully integrated with its CSP offerings, it does take advantage of the Pay Anyone capability. Metavante has plans to further integrate with presentment applications in future releases. Service Bureau Experience Metavante has been hosting solutions for financial services firms for over 38 years and is very familiar with data center issues such as security, scalability and disaster recovery. 5 September

8 Strong Financial Picture Metavante is part of Marshall and Ilsley Corporation, a $29 billion asset bank holding company. Metavante has over 5,100 financial institution clients and does not need to rely solely on Internet banking as a revenue stream. Offers Both In-House and Outsourced Options Metavante will either host the offering at its data center or allow financial institutions to purchase a packaged application. Metavante also allows billers to start with an outsourced solution and later bring the solution in-house; however, to date, no financial institutions have opted to bring the Consumer e-banking product in-house. The Corporate e-banking product has in-house and ASP installations live. The outsourced option allows small and midsize financial institutions to institute Internet banking, since the costs are significantly lower than customized software development. Limitations No Aggregation Solution No aggregation options are offered as part of the Internet banking offering, preventing customers from seeing all account relationships from multiple financial institutions in one place. CRM Solutions Are Not Yet Fully Integrated Although Metavante does provide marketing and banner advertisement capabilities and a data feed to data warehouses, it has not yet fully integrated more sophisticated customer relationship management (CRM) functionality. Metavante is in the process of developing APIs to CRM applications, as well as analytics, campaign management and better marketing director functionality within e-banking. Metavante does have expertise in CRM and has its own CRM solutions. Limited Customer Base for Internet Banking Product Since Metavante acquired only the U.S rights to the Internet banking product from Brokat, it got a relatively late start as a software vendor in the Internet banking market. Metavante does not have as many customers as some of its competitors, who are more established in the Internet banking market. Little Experience With Consumer Internet Banking Packaged Applications Almost all of Metavante s customers for the Internet banking product have opted for the ASP model. Although as a corporation, Metavante has a lot of experience with packaged applications, it has not yet sold consumer Internet banking as a packaged application. Limited International Presence Metavante markets the consumer ebanking product through partners in the international market and does not have local offices for support. Metavante s strategy is to establish reseller relationships with third-party system integrators to address international markets. Experience With Connecting to Non-Metavante Core Applications Although Metavante does have some very large customers connected to non-metavante Core systems, the majority of current consumer Internet banking customers are utilizing Metavante Core Banking Systems. 5 September

9 Insight Consumer ebanking is appropriate for companies who are interested in an outsourced Internet banking solution that can be brought in-house. Established Metavante customers will have an advantage using the Metavante Internet Banking application to integrate with Metavante Core Banking applications. Customers who wish to have a common infrastructure that can be extended to their consumer small business and corporate market segments should consider the Metavante ebanking product line. 5 September