FERNBACH launches Objects4Lending which endorses SOA methodology and introduces extensive use of prototyping

FERNBACH has recently unveiled a new website documenting a major strategic market re-launch of its upgraded and improved lending solution. The new product line entitled Objects4Lending reflects the changes that have occurred in the global financial services sector since the credit crunch of 2008. Mergers and acquisitions, new legislation, new market participants, lower market rates, higher credit spreads and efficiency drives have made the lending market much more competitive and complex.

One of the primary challenges for lenders post-subprime has been the need to meet and surpass credit growth targets, without increasing the credit spread, set for both commercial and retail loans. Maintaining quality stability as well as attracting potential customers in new sales channels are also important factors. Due to the low growth rates in corporate banking, consumer loans are witnessing a massive surge and are being strongly touted by various financial institutions as a means for the banks to meet their ambitious growth targets.

Banks need more than simply another software vendor supplying generic software packages and especially in today’s climate, banks cannot afford the financial consequences of making bad decisions and incurring either extensive implementation times or software that does not fully meet their needs. Thus they cannot afford to get their decisions wrong.

To accommodate this new approach to business and to fully assist banks in overcoming challenges in the lending market, FERNBACH has successfully re-launched, improved and upgraded its lending solution and has re-branded this offering as: Objects4Lending. This re-invention fully supports the SOA model (service-oriented architecture) while also enabling banks to move into the next level of lending products providing more optimisation, more flexibility, more accuracy and at a more affordable price. 

Objects4Lending provides banks with the ability to assemble and create bespoke lending solutions tailored to their exact individual requirements. Objects4Lending has been specifically designed with a unique implementation methodology which allows banks to cherry-pick the desired components (in the true spirit of the SOA model) and create their own tailored solution, with the insight and industrial knowledge of FERNBACH’s experts.

The prototyping phase enshrined in the Objects4Lending model also enables banks to achieve faster time to market. Since more focus is given to collating and sifting through the bank’s requirements at an early stage of the project, all specifications are dealt with in the process of creating and building the desired prototype. No time is lost at later stages because all the modifications have been carried out en route, thus removing the need to re-visit and continually refine the product. This approach means that the finished modelled solution should only require minor adjustments rather than a total re-design, as is sometimes the case with less developed software offerings. The infrastructure and development challenges, which often resulted in lengthy project duration, are eliminated thanks to the streamlining and project methodology of the Objects4Lending approach. By offering banks the opportunity to link up disparate systems over various locations into one composite solution, banks now have the freedom to configure their own solutions using their own architecture. Objects4Lending delivers the business components and services for the lending solutions required and also provides the tools needed by the banks’ own IT departments to assemble these components if they so desire.

FERNBACH’s Objects4Lending then adapts the best of every solution and blends these components into an easy-to-integrate and easy-to-install lending application which can be used within any existing architecture. Objects4Lending is capable of processing the higher transaction volumes under faster turnaround times while also providing an inherent ability to scale as necessary. The unique approach to lending operations ensures that Objects4Lending offers banks reduced development times and also less risk associated with buying a final product as the prototyping phase eliminates this possibility. By reducing time and error Objects4Lending effectively reduces cost and ensures ingrained flexibility for any further iteration required of the software. Objects4Lending offers a highly efficient method for assembling business-specific lending systems which ensures a competitive edge for financial institutions in today’s harsh trading environment.

The FERNBACH lending solution is now fully operational and has already more than 50,000 installed workstations.

For more information please visit us at www.objects4lending.com