Based in Munich, DAB Bank AG is Germany’s first discount broker. As a direct customer service bank, it offers a comprehensive range of services focusing on investment growth and safety using securities. Its products provide solutions for savers, investors and traders. In business banking, DAB Bank is a partner for investment firms, fund managers and financial consultants, as well as banks and savings and loan institutions.
To prepare for future challenges, DAB planned to introduce Hyland's Alfresco platform as a new foundation technology for the enterprise. The goal was to use a single, centralized platform to map complex processes. All process-related documents are managed with a powerful Alfresco platform content management system.
The first project deployed in the new environment consisted of a B2B customer process: Telephone trade transactions with brokers and other business partners. Of particular importance for a financial institution is to store all documents per regulatory requirements, along with audit-proof compliance.
In the past, the process involved using paper copies. All documents were printed and filed in folders. Even though DAB Bank had an electronic archive system available (IBM FileNet Image Services), it was unable to use it for this process, because of architectural limitations.
The new system had to meet several challenging requirements:
- Efficient implementation of new applications and processes
- Agility to change existing processes
- Stability, scalability, performance, cluster capability and ease of administration
- Flexibility in system maintenance (execution of changes, testing, deployment)
- Low operating costs while considering all costs for licensing, support and ongoing maintenance
- Capability to be integrated into the existing system environment
- Capability for further architectural development
- Control and monitoring via a single, centralized process engine
Prior to selecting Alfresco platform, the stakeholders at DAB placed particular emphasis on setting a permanent course for the future. Additionally, project organization was also expected to ensure a long-term, efficient cooperation between individual departments and IT, and to provide a model for future projects.