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Financial object-oriented requirements from user meetings

Objective

User objectives: To be able to consolidate requirements and present these to more than one potential supplier, increasing the possibility for appropriate solutions. Furthermore creating a set of requirements is important, independent of different technology suppliers, which ensures that the development of solutions from the different suppliers ensures maximum freedom and flexibility. Consequently, the competitiveness for the users will increase. This could apply both nationally and in the European market.

The main objective for the suppliers will be: To be able too more rapidly respond to consolidated requirements and by that potentially increase market shares both nationally and on a European and global level.

Relevance to the wider community:
Due to the fact that the users will increase their competitiveness - their products can be tailored to their customers needs. Additionally this could be the initial activity to set up a marketplace for the suppliers and the users in the area of business-components.

ACTIONS

Description of the users in the network: Financial institutions are the users in the network. The companies that are going to participate must apply to the following general rules: They must have some experience in object orientation in analysis or in implementation, the companies must participate with both an OO-analyst and a senior business analyst.

Target audience: Technology suppliers, such as SNI and IBM have already started the development of object-oriented frameworks for financial services.

This technology provides a basis for a new class of systems with four different kinds of technology suppliers:

1) Framework suppliers: Companies that creates a basic set of related classes and components, which can be subclassed and specialised for particular applications and organisations.
2) Infrastructure suppliers: Companies that provide an underlying infrastructure, such as distributed object technology (i.e. OMG/CORBA and COM/OLE) and related services, such as database access and on-line transaction processing.
3) Component suppliers: Companies that provides functional services in particular domains as components that can be integrated in the framework.
4) Solution suppliers: Consultancy companies or the Financial institutions themselves - which assemble the components into integrated solutions.

The target audience is the four groups of technology suppliers identified, and the major players within each group. There is also an audience in various special interest groups and standardisation organisations, such as the OMG SIG on Financial Services, the Microsoft COM/OLE group on Financial Systems, and the IBM group on "The banking OO-foundry".

Mechanism for implementation:
A series of workshops will be arranged during 1996 and 1997. Moreover we will set up world wide web or discussion group to ensure the flow of information between each workshop. The final report will be incrementally produced, throughout a sequence of five workshops.

EXPECTED IMPACT AND EXPERIENCE

The commercial impact of the FOORUM requirements will be:
For the users: To get more appropriate solutions and a possibility for delivery of solutions from various suppliers. It is important that this will be user-driven in a way that can influence the current trends of having vendor-dependent user groups. User groups for the creation of object-oriented specifications of financial services are being established both by IBM, Microsoft and others. It would in addition be very useful to have a requirement group that is not dominated by one supplier.
For the suppliers: To get access to a consolidated set of requirements from a representative set of users, and by that increasing the market potential for own solutions. This will represent a basis for a European market for financial solutions, as much of the solutions today are national.
The anticipated benefits will be:
For the users: To be able to consolidate requirements and present these to more than one potential supplier, increasing the possibility for appropriate solutions.
For the suppliers: To be able too more rapidly respond to consolidated requirements and by that potentially increase market shares both nationally and on a European and global level.

Coordinator

Sparebanken Nord-Norge
Address
Sjøgata 8
N-9005 Tromsø
Norway