lannigan.org

Canadian Banking Software

 


Patrick Lannigan - Winter 2004

Bank Software - Strategic Information Technologies

I began working for Strategic Information Technology in August of 2003. It was my wife that first saw the ad for a "Unix Administrator" in our local paper (little did I know that Unix Administrator was a code word for customer relations, database expert, disaster recovery consultant, etc). I recognized the company name (SIT for short) and knew Steve Leeming, the chief technology officer, for over 15 years. I didn't know his brother, Rob Leeming (the CEO), as well - but admired what they had done together. It wasn't an easy decision to go back into a pure technical role. Yet, I was craving the sense and sensibility of what the Leeming brothers had to offer. I was tired (for now) of the subjective business development and marketing roles and craved a work environment where my achievements would be obvious. I got what I asked for. I'm working more hours now that I have in a long time, and am very happy for it. 

I'm also "involved" again with Unix, the mistress I had an affair with many years ago. (I think that affair cost me my first marriage). Oh, she may not be pretty, and sometimes she goes by the name of Linux, but you should see her perform. She's graceful and cruel at the same time (there is no recycle bin in command line Unix). Ah, but it's good to be with her again. I've since dusted off my Unix license plates (for Ontario) and the Bell Systems Technical Journals from 1978 and 1984. Thank you Mr. Kernighan and Mr. Ritchie. Thank you Mr. Torvalds. Thank you Joe Alsop, Chad Carpenter, Chip Ziering, Clyde Kessel, Gus Bjorklund and Mary Szekley (all from Progress Software), for making an industrial strength product.

Strategic Information Technology works with many partners including: Datawave, Cu-Connect, Equifax Canada, and Trans Union Canada. We've recently enhanced our software to work with Equifax and Trans Union through a secure socket layer (SSL) and an XML interface, to deliver a dramatic productivity improvement to our customers. Our customers are making great strides in keeping up with the two driving forces in our industry: low interest rates and the outstanding technical efficiencies available today (through companies like Strategic Information Technologies).

We do have competitors. They include the likes of CGI and Prologic (now called Fincentric). Neither of those two players, however, deliver what we can deliver. As such, life is good for us and our customers.

WARNING: 
Shameless Plugs for Canadian Bank Software Ahead

The software from Strategic Information Systems is highly modular, meaning that a customer could just buy our Retail Delivery system (for use the administration of checking / chequing accounts, savings accounts, or other deposit accounts, in multiple currencies), or they could just buy our Investments Module, which would address the requirements (tax and otherwise) for stocks, bonds, mutual fund portfolios, self-directed and non self-directed RRSP's, RRIF's, LIF's, LRIF's and RESP's. They could also buy our Gateway Module product, which interfaces all the banking system to email, fax, XML, TCP/IP, MQ Series, Sonic XQ, Tibco, Interactive Voice Response (IVR), or the Web. In other words, it's easy for our customers to buy only the products they need today, while still being open to future enhancements. The challenge, then, lies with us. We have to have an ultra-strict software discipline to ensure our software interfaces to the various modules, seamlessly, with no dependencies between the systems. Thankfully, we've achieved the no dependency goal, but it sure makes it hard, on a day to day basis, to maintain that discipline! Yet, we're better for it. We've interfaced to new technologies much quicker than our competition has, because of it.

I don't want to be brazenly promotional, but for those Canadian banks looking for banking software you should also look at our Term Deposits Module (for GIC, CD, and other term-type products). Term Deposits also accommodates indexed term products. And, of course, to bring-it-all-together we include our Accounting System with every product. It contains the General Ledger, Accounts Receivable, Accounts Payable, etc., which can be tracked by : company, cost center, product type, general ledger account, journal creation date or journal entry transaction date.

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©Patrick Lannigan
patrick at lannigan dot org
A Writeup on my Experience with Canadian Bank Software