LarrainVial S.A. Improves Online Financial Services With a Robust Integration Infrastructure
LarrainVial S.A. was founded in the 1930s with a focus on stock brokerage and presently offers a wide range of financial services, including financial advising and solutions for individuals, businesses, and institutions. The challenges faced by LarrainVial were related to implementing a scalable, flexible IT (Information Technology) architecture to provide interfaces with the company's legacy systems and user-friendly, yet secure, access to offer a variety of online financial services. Also, they wanted to improve client services by providing online self-service capabilities to carry out operations, such as buying stocks and bonds, checking balances, investing, and withdrawing funds. Providing alerts to prevent technical failures and ensure continuing systems availability to deliver 24/7 service to financial services customers was also an important need. Working with Oracle Partner Snoop Consulting they implemented Oracle's WebLogic Suite and Oracle Service Bus for an integrated infrastructure that enabled the company to efficiently and securely publish and control online information for more than 10,000 financial services clients. It facilitated communications interfaces among legacy applications, providing a standardized presentation to clients for financial services. Moreover, it created alerts to detect system failures, facilitating preventive measures and continuous availability of business-critical applications. Another facility was automated daily activity reporting, enabling complete and timely compliance with audit requests from the Superintendence of Securities and Insurance. There was a reduction by 75 per cent in the time required to complete monthly financial closings.