In the loan origination business, there are many business drivers for banks: process consolidation, regulatory compliance, and faster product delivery (loan completion). Loan products change frequently and are usually dynamic based on location (regional or state). Developing and modifying products in an agile manner enables banks to be highly competitive and adaptable in key markets. Also, compiling and staying on top of regulatory laws is always a challenge given the turbulent changes happening in the industry today. Banks are now trying to consolidate processes to reduce this complexity and maximize value.
To achieve these objectives the Office Business Application (OBA) Reference Application Pack for Loan Origination Systems (OR-LOS) will provide:
Architectural Guidance – a set of whitepapers that are real world scenario driven to help guide architects through the decision making processes of building loan architectures,
Application Building Blocks - An installable code base, message schemas, BizTalk accelerator and install guides will jump start your development effort, and
Building feature-rich, composite-style applications is the goal of architecture. Using this technology, financial services organizations can migrate to an SOA with more ease than ever before. We will use Microsoft’s 2007 Office System provides a platform for building composite solutions, called Office Business Applications (OBAs), designed to support cross-functional processes and allow information workers to collaborate. Additionally we will use BizTalk to provide rich message business features.
This article describes the Loan Origination Reference Architecture Pack. Learn more about composite applications, and how to build them on the 2007 Office System. We will use a banking scenario to focus on some of the specific needs for financial services. This scenario will provide means for partners and customers to integrate banking applications and establish consistency in this integration.
By using our Loan Origination architecture as a sounding board this article will serve as a guide for architects who want to design banking solutions that are compliant with the latest regulatory laws. There is no one-to-one mapping or checklist to solve these issues. However, this article will provide some interesting insight on how these regulatory concerns can be addressed using the latest Microsoft technologies. We will be using a business scenario coupled with many of the technology challenges in banking.
This article will serve as a guide for architects who want to design, enhance, or augment existing workflows from within the loan origination channel. We will highlight how to automate the manual steps in the loan origination process. Additionally we will explore unifying multiple loan channels and origination systems (LOS).
Developers and architects who seek more detail on how to build Office Business Applications (OBAs) for the financial-services industry can use this article to walk through development aspects of the Reference Application Pack (RAP) for the Loan-Origination Systems (OR-LOS) solution. Although this is only one way of developing a specific architecture for a specific application, developers can gain valuable insights from the process and the technologies employed in the OR-LOS architecture.
My name is Mike Walker and I'm an Industry Architect on the Architecture Strategy team. In this community section you'll find the most recent financial services related community activities and resources.