San Francisco, CA, USA
December 21, 2007A
Christmas Carol: Wells Fargo
Sings the Praises of SOA
Report Published by Celent
Wells Fargo has successfully used its SOA
platform to view customer information across accounts, provide information
to a myriad of channels, and establish direct connections to commercial
customers. This platform has also played an instrumental role in the
merger of customer accounts between Wells Fargo and Norwest.
Celent’s service-enabled version of A Christmas
Carol tells the story of SOA Past, Present, and Future.
Service-oriented architecture did not spring from IT shops without a
foundation. Wells Fargo began incorporating technology from abstract
disparate systems in 1993 using common object request broker architecture
(CORBA) and object-oriented programming. The Wells Fargo deployment of SOA
and its predecessors was driven first by the need to view accounts across
multiple core systems for wealth management customers. It expanded to help
other groups of customers and further developed to serve multiple
channels.
SOA played a key role in the successful integration
of Wells Fargo’s and Norwest’s core systems. It used CORBA technology
and its account factory router, also known as the “Intergalactic
Translator,” to allow employees and customers across the merged company
to access customer information independently of the system in which this
information resided. This SOA strategy has extended beyond internal
processing to include machine- to-machine (M2M) integrations between Wells
Fargo and its corporate customers, creating tighter bonds between the
financial services company and its clients.
Source: Wells Fargo, Celent
“Wells Fargo has been working with SOA and its
predecessor technologies for around two decades. The bank has demonstrated
a maturity of understanding and experience best exemplified by the Wells
Fargo Extensible Markup Language (wfXML). This IFX-compliant standard
creates a common financial services language and set of service
definitions across the institution,” says Bart
Narter, author of the report and senior analyst with Celent’s
banking group. “Because it is IFX-compliant, it can also be used outside
of Wells Fargo, to communicate with customers or other financial
institutions.”
A Christmas Carol, by Charles Dickens, was
originally published in 1843. Dickens wrote serialized novels, coming out
in monthly installments. In keeping with this spirit, Celent is publishing
a series of reports on SOA. The first report is titled A
Tale of One City: Core Renewal via SOA at National City Bank, December
2007. Subsequent reports will include Great Expectations: Can SOA
Deliver? and Our Mutual Friend: Core Driven SOA.
This 18-page report has eight figures and one table.
A table of contents is available
online.
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