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"ID Financial Technologies" Has Developed and Implemented the Accounting Engine Solution Based on the Red Hat Company Technologies

"ID Financial Technologies" announces finalization of the project for development and implementation of the own Acconting Engine class solution SmartAE, build with the help of Red Hat software. As a result the client (top-20 list bank) was granted flexibility and efficiency for launching new business products, which now allows to bring its marketing stategy to life faster. The project's IT distributor was Axoft company.

"The bank's top-management set the following task to the IT department: provide support for business departments for new banking products implementation process. Implementation of these products was accompanied by deployment of new application generating business-events that were required to be registered in the General Ledger - the main acoounting registry. "Since those applications were not able to directly generate records in the accounting system used for managing the General Ledger, a necessity to implement a solution for this task had emerged" - shares Sergey Saparov, Head of software development in the "ID Financial Technologies" company.

As a result of a held tender "ID Financial Technologies", a Red Hat partner with Independent Software Vendor status, was chosen as a project developer. The company experts created the Smart AE Solution that allows to automate accounting for financial organizations with multiple heterogeneous application systems and complex intermittently changing requirements for accounting from the Regulator.

Implemented solution allows prompt launching of new business products and integration of corresponding application systems with accounting systems, which is achieved with the help of SmartAE solution, used as an intermediate layers between the systems.

The solution reliably solves required tasks and allows to promptly implement new production systems. Now the client is able to bring the marketing stategy to life faster as the IT environment does not produce any limits. I am sure that SmartAE will sucessfully prove itsefl as an industrial solution of the Accounting Engine class for organizations working in the banking and financial sectors" - says Vladimir Ermolin, the Head of business development in the "ID Financial Technologies" company.

About the SmartAE

SmartAE is a solution of Accounting Engine class based on JavaEE 7 platform for automation of complex accounting in financial organizations. The Red Hat JBoss BPM Suite 6.4 BPM container is applied for executing processes and rules of business events processing. The solution can be deployed on various industrial application servers working with Java EE 7 platform, including Red Hat Enterprise Application Platform 7.

Component-based architecture of the solution offers wide range of possibilities for integration with application and account systems using adaptors, which provide flexible adjustment options and apply different interaction methods including those using relational database tables, message queues, text files, etc. The solution architecture also offers various options for components deployment, possibility to use different DBMSs and external message exchange systems.

The KIE Workbench tool included into the Red Hat JBoss BPM Suite provides business analyst with advanced web interface for configuring processes and business events processing rules for application system. Namely, processes are described as graphic diagrams using the BPMN 2.0 language, while rules are desrcibed with the help of dynamic forms or decision tables.

Additional components of the solution provide enrichment of business events of the application system with data required during generation of corresponding transactioins in accounting systems. The monitoring component allows to promptly monitor system condition and business events processing.

The solution is deployed on the various application servers that support Java EE 7 platform, including the Red Hat Enterprise Application Platform 7.