treXis has announced the launch of a new suite of integrated modular services designed to optimise the way FIs control their core systems and prepare for Open Banking.

Following this announcement, the solutions were developed in order to address four interrelated modernisation challenges that are facing FIs. This includes the process of consolidating data from disparate legacy systems, provisioning and improving data security, integrating Open Banking and emerging technology into already existing ecosystems, as well as unified system access across the enterprise. 

In addition, treXis will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. 

More information on the announcement

The modular design of treXis products is set to offer flexibility and deployment agility, which will enable FIs to improve the way they evaluate and manage performance costs and third-party systems. In addition, financial institutions will be enabled to connect and integrate data across their distributed legacy systems into a single source of truth, as well as precisely provision access at all organisational levels. This will establish a new unified data and systems framework that will allow businesses to better plan for and adopt Open Banking services and experiences for their partners and clients. 

At the same time, the treXis digital banking service suite integrates core components that provide core functionality and offerings, which are critical to the future of Open Banking, as well as the overall adoption of advanced technologies like artificial intelligence (AI). 

The treXis Data Hub was developed to centralise all systems of record, ledgers, or core data from several systems into a single unified API, which was based upon industry standards such as FDX and BIAN. The Data Hub was also engineered to provide plug-and-play connectivity to all major core providers, which will allow data from disparate systems to be incorporated into one comprehensive source of truth across an entire banking experience. 

The treXis Entitlements Engine was designed to allow FIs to dynamically control entitled access and consent across all digital channels. The solution is set to provide authorisation functionality and access control at the enterprise level, while also offering comprehensive access auditing and fine-grained access control. This will allow an institution to grand, modify, as well as revoke consent for each user or third-party solutions. 

The Data Hub and Entitlements Engine are expected to be flexible and adaptable to address any configuration of legacy systems, as well as components while also allowing FIs to maintain a differentiated strategy from competitors. The company’s solutions were developed to be applied to any banking environment, which includes business, commercial, private, and customer.