General Requirements of Banks on IT Architectures and the Service-Oriented Architecture Paradigm
The Service-oriented architecture (SOA) paradigm has been gaining momentum over the last few years. Although the banking industry has often been mentioned as an early adaptor of service-oriented technologies, there is still a lack of knowledge concerning
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stract. The Service-oriented architecture (SOA) paradigm has been gaining momentum over the last few years. Although the banking industry has often been mentioned as an early adaptor of service-oriented technologies, there is still a lack of knowledge concerning bank requirements on IT architectures and whether an SOA is suited to meet them. In this paper, we present the results from an empirical study which quantifies the qualification of service-oriented technologies for the German banking industry. By using data collected from the German banking industry, it turns out that SOA is apparently suited to meet predefined needs of this industry. However, there are differences in the expectations among various groups of banks. In addition, this paper presents the status quo of SOA adaptations in German banks. Keywords: Service-oriented Architecture, Banking Industry, Requirements on IT Architectures, IT value creation.
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Introduction
Although service-orientation is based on well-known concepts like autonomy and the loose coupling of software components, the adaptation of Service-oriented architectures (SOA) in the research community, as well as, in the software industry has been stimulated in recent years by the standardization of Web service technologies. When considering SOA for the banking industry, most of the academic discussions address how SOA can be applied to predetermined domain-specific problems like the management of capital market systems [1,2] or the core banking system [3,4]. Other research approaches focus on quality aspects and other related concepts (e.g., [5]). D.J. Veit et al. (Eds.): FinanceCom 2007, LNBIP 4, pp. 66–80, 2008. c Springer-Verlag Berlin Heidelberg 2008
Requirements of Banks on IT Architectures and the SOA Paradigm
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In contrast, only a few empirical studies (cp. Sect. 2.3) have been conducted regarding to the impact of SOA on the banking industry in general. Therefore, we decided to extend our previous research in the field of SOA by analyzing the German banking industry based on an empirical survey [6]. In this paper, selected results from a survey we conducted among CIOs, CTOs, IT architects, and enterprise architects from Germany’s 1001 largest banks (with respect to their balance sheet totals) are presented. The rate of return was 5.19%. The key focus of this survey was to access whether SOA is a major trend or mere hype for the German banking industry – thereby determining whether SOA is suited to meet the requirements of the German banking industry. Furthermore, the status quo of SOA adaptation in German banks was also investigated. Consequently, the following research question was the key motivation behind the survey: Is SOA a major trend or hype for the German banking industry? The remaining part of this paper is structured as follows. In the next section, the basics and common benefits of SOA, its potential impact of SOA on banks, and relevant related work are introduced. Based on this theoretical foundation, nine statements were identified which formed the basis of our quest
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