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Article: B of A, Citi Use Advanced Features in Payment Tools.(Market Monitor)(Citigroup Inc. and Bank of America Corp. uses service oriented architecture for their online services)
- Article from:
- American Banker
- Article date:
- September 17, 2009
- Author:
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Byline: Steve Bills
Banking technology executives have been promoting for years an advanced systems-design format that they say offers a wide range of advantages but has been used mainly for small, discrete projects.
But the cash management efforts announced this week by Citigroup Inc. and Bank of America Corp. are among the biggest projects to date to take advantage of service-oriented architecture, as the format is known. Analysts say that as the technology becomes more widely used it could improve banks' abilities to connect their systems to those of their corporate customers - and to each other.
Citi announced its CitiDirect BE (for "banking ...