Banks must collaborate and technology must be part of that collaboration. SOA offers an approach to banking payments that is a progressive solution with lower cost of operation than today’s alternatives. The inherent flexibility would position a bank for new payment channels and new payment sources and targets.
Thinking long-term is the hardest, most prolonged, and most expensive part of SOA especially in building the initial architecture. Once that’s in place, additions or changes – new channels, back-office functions or business lines – cna be made much faster and less expensively. Over time, the return on this initial investment can be dramatic.