Most financial service organizations rely on mainframes for high-volume, high-availability transaction processing. Financial transactions worldwide are processed by IBM mainframes running CICS (Customer Information Control System) applications, and insurance companies continue to rely on tailor-made, COBOL-written IBM mainframe applications to support their mission-critical business processes. All these mainframe-based financial applications have one thing in common: They do not support an interface to allow service-enablement of their business functionality. That means that financial applications, taken as a whole, present the biggest hurdle to SOA implementations. This white paper discusses the benefits and challenges of implementing SOA in financial service organizations such as banks or insurance companies.
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