06 June 2017
Software Partnership connects ACTICO Decision Management with the Avaloq Banking Suite
Avaloq and ACTICO GmbH in Immenstaad (Germany) have signed a software partnership.
- New standard adapter connects ACTICO Decision Management and Avaloq Banking Suite.
- Avaloq customers benefit from the graphical modelling of business rules.
- First deployment scenario in the area of Investment Suitability.
Avaloq and ACTICO GmbH in Immenstaad (Germany) have signed a software partnership. The result of the joint development is the Avaloq Business Rules Standard Adapter. It enables banks to load technical rules from the ACTICO Business Rules Management into the Avaloq Banking Suite and to execute them there. Hence, Avaloq customers benefit from the graphical modeling of business rules. A current application is the MiFID II and FIDLEG implementation to ensure Investment Suitability.
Avaloq Business Rules Standard Adapter: Stable connection between core banking system and management of business rules
The adapter provides a reliable connection between the Avaloq Banking Suite and ACTICO Decision Management. The advantage of this is the graphical user interface, which is used to model business rules. These rules, in other words - the decision logic - are transparent and comprehensible for the departments of a financial institution.
"Through the partnership with ACTICO we enable the decision rules from Avaloq Banking Suite to be graphically visible and intuitively modeled. In the digital world our customers can now adjust their automated decisions quickly, safely and flexibly", states Thomas Beck, CTO at Avaloq.
ACTICO Decision Management provides experts in the financial institution or external consultants with a quick introduction to the independent creation of rule-based decision-making logic. It is precisely because of the graphical approach that it is easy to model, modify and deploy business rules for different business departments. This ensures high agility. ACTICO Decision Management promotes collaboration between business departments and IT in managing business logic while also simplifying the organization and traceability of new versions through a common repository.
Thomas Cotic, CEO at ACTICO, anticipates major benefits for the automation in financial institutions: "Our partnership with Avaloq enables banks to use graphical decision rules directly in the Avaloq Banking Suite. Hence the business department can control the automated decisions in the entire IT landscape on a central base.”
First application: Avaloq Business Rules Standard Adapter for Investment Suitability
The first deployment scenario for the Adapter currently being implemented with a pilot customer is the Investment Suitability Framework in the compliance department. As a result, the financial institution ensures compliance with the requirements of the legislators concerning suitability according to MiFID II and FIDLEG. The adapter is suitable for innumerably further applications in the financial industry, such as in the area of the Client Life Cycle.
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