Banking software platform brings real-time decisioning, critical communications and governance into a single architectural layer purpose-built for payments, authentication, fraud and other mission-critical banking events.
Latinia, a provider of decision-centric technologies for financial institutions, outlined the architecture behind its Critical Event Governance approach, designed to help banks decide, govern and execute customer interactions triggered by real-time financial events.
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“Banks already have systems to process payments, detect fraud and manage customer relationships. What has been missing is a purpose-built layer to decide and govern what happens between a critical banking event and the customer interaction it generates”
“Banks already have systems to process payments, detect fraud and manage customer relationships. What has been missing is a purpose-built layer to decide and govern what happens between a critical banking event and the customer interaction it generates,” said Marc Alcón, CEO of Latinia. “That is the architectural layer Latinia was built to deliver; tackling this gap by providing a decision and governance layer between banking systems and customer interactions.”
Built on an event-driven architecture, Latinia analyzes transactional events as they occur and applies bank-defined business rules to determine whether an action is required, its priority, and how the resulting communication should be executed. The architecture is designed around a simple sequence: banking event, decision, governance and customer interaction.
A payment authorization, transfer, card transaction, authentication request or fraud-related event can therefore be evaluated in its transactional context rather than treated simply as a message to be delivered. Banks can apply prioritization, resilience and business rules while maintaining traceability throughout the communication lifecycle.
This approach also separates decision and communication logic from core banking systems and individual channel providers. As a result, institutions can add or change channels and providers while maintaining centralized governance over the underlying business logic.
“Customer journey platforms orchestrate engagement around customers. Our architecture governs decisions and interactions around banking events,” Alcón added. “The distinction becomes increasingly important as payments and other banking processes move to real time.”
Latinia’s platform combines a Real-Time Decision Engine with capabilities for critical alerts, customer alert preferences and contextual Next-Best-Actions. Business teams can configure rule-based strategies and delivery priorities while operating within the governance framework established by the financial institution.
The platform is designed to support both legacy and cloud banking environments and connects with core banking systems, customer data repositories and communication providers through APIs, adapters and connectors.
Latinia’s technology currently supports more than 170 million banking customers, while its Real-Time Decision Engine can analyze more than 50,000 business rules per second. More than 30 banks across Europe, the United Kingdom, Latin America and Central America use Latinia technologies.
“As banking becomes increasingly event-driven, the competitive advantage will come from what institutions can decide and execute around those events,” said Alcón. “Our objective is to give banks a governed environment where payments, security and customer interactions can operate with the speed, resilience and accountability that real-time banking requires.”
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