Our client in Europe founds strong disconnect between the wealth managers’ needs and the tools that they were using in private banks. To address this problem, they wanted a solution that is a combination of private banking heritage with cutting edge technology to automate and simplify their daily process needs.
They needed experts and tools to store their extremely sensitive bank data in a repository which is highly secure and manage them.
They were having other multiple legacy systems with which the proposed solution could be integrated.
Design and Prototyping
To address the needs, the client decided to have an ECM which is open source, scalable, store and retrieve bank files in a secure way.
An ECM which was designed with Alfresco which was not a part of their regular deployment architecture.
An ECM which could do version control of the documents in the repository.
An ECM which could efficiently store the documents from different applications.
An ECM which could effectively search from the repository using meta data and search indexes.
An ECM which could be easily integrated with 10 different applications with Rest API’s
An ECM which could have effective way of taking back-ups and restore with zero loss of data.
Project Scope and Product Features
Document to be migrated from file system to ECM
Apply permission roles to documents.
Secure data transmission between API servers and ECM
Encryption and Decryption of documents while uploading and downloading
Setting up Archive process for documents
Quick and fast search of documents with meta data
Implementing multiple tenants to store data based for their different clients.
We proposed to go with Alfresco for its ECM needs considering that it is open source and comes with lots of Out of the Box features which can be customized easily based on business needs.
We implemented Alfresco for this ECM needs and migrated all the documents from file system with our custom developed migration tool. We did custom implementation to push the documents to Alfresco repository from different locations based on the banks. Every document pushed now has meta data attached and can be quickly searched base on it.
We implemented OCR and Archive processes to automate the data extraction so that the system can read and perform actions accordingly.
An Archive mechanism was also implemented based on the banking domain needs.
We build a tailor made solution for Backup and Recovery and automated this process to ensure zero data loss.
EnProwess has build a custom ECM solution on top of Alfresco to address the business problems faced in banking domain.
It has provided the banking industry and its wealth manager users a new dimension to solve problem in a quick and efficient way.