Financial information exchange
Secure, manage and exchange information between banks, branches and corporates
Financial Services institutions are at the pinnacle of compliance and regulatory obligations for data security. The cost of non-compliance or data breaches can run into the billions of dollars and have a lasting impact on client trust. Meeting the ever-changing requirements of security and compliance, higher customer expectations and business process velocity are ongoing challenges in the sector that must be managed effectively.
OpenText™ helps Financial Services organizations secure and exchange information with data integration managed services, managed file transfer, data tokenization tools and digital fax technology, while improving business processes, meeting regulatory requirements and increasing customer satisfaction.
What is financial information exchange?
Financial Services information exchange is the digital transfer of information between people, systems and firms, including financial institutions, regulators and clients. Supporting business processes, such as client onboarding, loan applications, account documentation, trade confirmations and others, this information exchange is implemented via dozens of open and proprietary protocols and message and file formats, a potential barrier to efficient service delivery and positive customer experience.
OpenText financial information exchange overview
OpenText™ Business Network enables the seamless, secure flow of information across an extended ecosystem of banks, insurance firms and corporates, simplifying inherent data exchange complexities and delivering business insights for process efficiency. By providing the necessary digital foundation, Business Network secure information exchange solutions provide Financial Services institutions with critical tools that help manage risk and secure data, at rest and in transit.
OpenText financial information exchange features
System management
Offloads the day-to-day management of data exchange operations and infrastructure, including systems health monitoring, data backups, network managed services, systems administration and application support.
System integration
Delivers enterprise integration services to systems and legacy applications to optimize data exchange and insights.
Connectivity
Manages the connectivity between brokers and dealers, investment managers, global custodians and centralized depositories.
Supply chain visibility
Offers visibility into the supply chains of corporate clients and accelerates time to market with fast and easy supplier onboarding and document translation between multiple formats.
Surrogate data encryption
Stores sensitive financial data in the OpenText encrypted cloud to narrow the scope of systems, applications and processes that need to be audited for regulatory compliance.
Encrypted large file transfer
Exchanges large files in machine-to-machine batch transfers between branch and head offices or user-based adhoc transfers quickly and securely.
Digital faxing
Removes paper-based faxing with integrated, enterprise-grade digital fax. Offers multiple deployment options, including fully managed services, on-premises, cloud and hybrid, to meet secure information exchange needs today and as they evolve.
OpenText financial information exchange benefits
Reduce cost
Modernize and increase flexibility of Bank-to-Corporate, Corporate-to-Bank and adhoc information exchange on the Business Network platform for greater efficiency and lower total cost of ownership.
Automate processes to reduce errors
Reduce transaction processing time and improve end-to-end process accuracy by decreasing manual paper-based rework and avoid errors associated with re-keying information from one business system to another.
Secure data globally
Secure data leveraging OpenText global compliance investments and audits to comply with existing and emerging international data privacy laws and enable safe business transactions around the world.
Reduce risk
Replace financial, PCI, PHI, PII and other types of sensitive data with surrogate data, vastly reducing the points of potential data compromise and breach.
B2B integration
OpenText™ B2B Managed Services offers a repeatable, proven people–process–technology model that extends the IT team while improving business process optimization.
Enterprise application integration
OpenText™ Alloy seamlessly integrates cloud and on-premises applications to eliminate data silos and other common barriers that accompany legacy applications.
Data tokenization
OpenText™ Protect replaces sensitive data throughout the enterprise with data surrogates that have no value on their own.
Managed file transfer
OpenText managed file transfer solutions provide a cost-effective alternative to securely exchange information of all types and sizes to keep financial and proprietary information secure.
Fax server software
OpenText™ RightFax™ is a scalable fax server solution that integrates with the industry applications that power business processes to increase security and decrease costs.
Cloud fax services
OpenText™ Fax2Mail™ is an enterprise cloud fax service that simplifies desktop faxing, while reducing the cost and complexity of managing onsite hardware, software and telephony.
OpenText financial information exchange solutions
B2B integration
OpenText™ B2B Managed Services offers a repeatable, proven people–process–technology model that extends the IT team while improving business process optimization.
Offload B2B complexity
Enterprise application integration
OpenText™ Alloy seamlessly integrates cloud and on-premises applications to eliminate data silos and other common barriers that accompany legacy applications.
Offload A2A complexity
Data tokenization
OpenText™ Protect replaces sensitive data throughout the enterprise with data surrogates that have no value on their own.
Improve data protection
Managed file transfer
OpenText managed file transfer solutions provide a cost-effective alternative to securely exchange information of all types and sizes to keep financial and proprietary information secure.
Reduce file exchange risk
OpenText financial information exchange solutions
B2B integration
OpenText™ B2B Managed Services offers a repeatable, proven people–process–technology model that extends the IT team while improving business process optimization.
Offload B2B complexity
Enterprise application integration
OpenText™ Alloy seamlessly integrates cloud and on-premises applications to eliminate data silos and other common barriers that accompany legacy applications.
Offload A2A complexity
Data tokenization
OpenText™ Protect replaces sensitive data throughout the enterprise with data surrogates that have no value on their own.
Improve data protection
Managed file transfer
OpenText managed file transfer solutions provide a cost-effective alternative to securely exchange information of all types and sizes to keep financial and proprietary information secure.
Reduce file exchange risk