It is common knowledge that the IT industry is one of the areas of human activity that demonstrates the fastest growth rate. Therefore, to achieve and maintain leadership, it is critical for companies operating in industries that are fundamentally IT-based to know, embrace, and utilise the latest technology developments.
As adopted and used by a large number of well-known and hugely successful global companies, as well as proven by our own experience gained over the years, the systematic consolidation of the latest information technologies into specialist software engineering environments is the most effective way of applying these technologies to sophisticated corporate solutions. The availability of these environments to vendors greatly facilitates customisation, speeds up development and in the long run, significantly reduces the total cost of ownership for the product as a whole.
Inheriting all of these advantages, TranzAxis, a specialist open application platform, is designed with the philosophy of empowering our customers to the point where the system becomes truly their own, with nothing remotely similar in the market. TranzAxis addresses a much broader spectrum of retail banking automation tasks, going far beyond the architectural and conceptual frameworks of the most advanced electronic payments systems that exist today.
TranzAxis is created to enable development and support of switching, retail banking and other systems and applications in the domain linked to the automation of retail banking activities. It offers the user a full set of application development tools (builders, designers, editors, debuggers etc.), as well as a set of specialist components that may be required in implementing diverse applications in the given domain.
As Compass Plus believes in stimulating innovation and creativity, we also made TranzAxis a ready-to-use system of application software products, ensuring our platform is not just a sophisticated set of tools but is more accessible and usable by a broader number of financial service providers. TranzAxis includes a basic set of applications (switching, operational, retail, accounting, analytical etc.) available either for direct use by the customer as intended, or for making changes that may be required in the course of application customisation, integration and further development, or better yet, for using them as the basis for the development of derivative or independent applications and systems.
TranzAxis is built on RadixWare - the integrated end-to-end object-oriented open software engineering environment that embraces the most advanced and promising ideas, methods, tools and open development technologies available today.
Modern corporate systems take thousands of man-years to develop. Systems of such complexity and scale cannot be developed without the use of specialist software engineering facilities in the same way it would be impossible to build a modern plane with just a hammer, saw and file. All developers of corporate systems use some kind of software engineering platform typically of a proprietary nature, developed in-house. It is only in the past few years that a trend for the gradual move to open standards and open tools has emerged.
The foundation of RadixWare is provided by an original implementation of the Object-Relational Mapping technology that delivers presentation of the application data structure and relational database as a single object model. The following can also be described as the special features of RadixWare: 3-tier application architecture support, multi-tier application support, application generation based on a single description (model), declarative or imperative definition of the presentation logic, as well as business and data storage logic, a full set of development tools, availability of a complete set of features for full application support (design, coding, debugging, testing, release management, patch production etc.), architecture to support non-stop running of applications (including installation of updates whilst the system is running), ready-to-use technological components (SOA infrastructure, access right control, audit, workflow, personal communications channels, task scheduler, designer, report generator, protocol definition, license generation and tracking features) and a host of other unique and innovative features.
The key principles behind RadixWare
Integrity - The platform components are adjusted to fit perfectly together, they are integrated, uniform, based on common patterns, naming conventions etc. - in essence the platform is truly holistic.
Completeness - RadixWare platform enables the implementation of the complete development cycle of application product components as well as its full life cycle support - there is no need to study multiple disparate software engineering facilities.
Compactness - RadixWare platform offers set facilities, tools, style, approaches to and methods of solving tasks that arise in the development and support of a certain class of products, but it does not attempt to support all the possible options - there is no need to select the development path on each occasion.
TranzAxis has been fully implemented using RadixWare features and in the RadixWare environment, it includes a set of application process components for use in different applications for its target domain, including definitions of universal business object classes. In addition, TranzAxis inherits the complete set of the RadixWare development tools and as such ensures the effective implementation and support of diverse retail banking application systems, in particular electronic payment systems, transaction systems and other systems used to automate a modern commercial bank.
Project background
Our first customer, NEYVA Bank, is a recently established retail bank deploying a brand new retail banking project. The experienced and highly skilled management and technical team who joined the bank have previously worked alongside Compass Plus for a number of years on another project. This project is incredibly ambitious and innovative especially within such a highly competitive retail banking services territory.
Project implementation
A specialist project team was set up comprising of the key product developers from Compass Plus, as well as the bank representatives and executives responsible for project management. As a result, TranzAxis applications were customised to meet the exact business requirements and conditions of the bank. The first stage was completed on time and included, for example, the implementation of CBS and CRM interfaces, installation of the self-service terminal management system, certification of the sponsor bank interface, etc. The first stage of the NEYVA Bank project went live in April 2011, culminating in the certification of the processing centre by Visa and the commencement of the issuance of corporate bank cards.
The second stage of the project will be a full service retail banking system including debit and credit accounts and bank cards, and its completion is planned to coincide with the Central Bank of Russia granting the requisite licenses. The functionality needed to achieve this has been implemented on the basis of TranzAxis applications and is currently undergoing fine-tuning and integration testing. At the same time the bank is planning to launch remote banking services to individual customers of the bank.
Project future
As the bank staff builds up their knowledge and skill base of working with TranzAxis tools, the functions for the further maintenance of the applications will be handed over to the customer in line with the philosophy encapsulated in the new system. What happens then will depend entirely on the strategy and plans of the bank.
TranzAxis and its component products readiness for commercial use has been convincingly confirmed by the go-live event - the start of the production use of the IT systems by the bank.
Chairman of the Board at NEYVA Bank, Oleg Antonov said of the project: "Our specialists have many years of positive experience in working with Compass Plus and their TranzWare suite of products. The implementation and launch of TranzAxis in Neyva Bank not only proved the high level of professionalism of the Compass Plus team but also highlighted the company's sincere interest in their customers' business. The success of bank projects that are directed towards the delivery of high quality services for a large number of customers, first of all, depends on two factors: the reliability of the bank's IT platform and the speed and quality with which the bank can develop and implement new products and services on this platform. TranzAxis combines these two factors as it guarantees non-stop high-volume performance, scalability and optimal resource usage. That said, the unique customisation capabilities of the system also enable the instant reaction to market changes and prompt implementation of innovative products and services. I am sure that TranzAxis is the future and happy that Neyva Bank became the first user of this system."
About NEYVA Bank
NEYVA Bank was established on the base of ComNeyvabank (Novouralsk, Russia) that was founded over 50 years ago. In 2009, with the arrival of the new shareholders and management team, the next stage in the bank's development commenced. In a very short period of time the bank has increased its assets by 580%, its ratings by 500 points and is now positioned in the top 10 regional banks in terms of assets. The bank has a network of 14 branches located in the key towns and cities of two large regions in Russia.
The financial service providers that will benefit the most from TranzAxis are organisations implementing projects with a high degree of innovation, large number of uncertainties, continuously changing business requirements, challenging implementation timelines for new products, stringent new payment legislation and the requirement for seamless product integration with new payment services. Such organisations have product functionality modification requirements that are so diverse that it may not be feasible to meet them all using a standard set of customisation features typical of conventional systems, no matter how feature-rich they may appear in terms of parameterisation and other customisation tools. These users need access to the complete set of development tools available to the vendor including the ability to use and even modify the code of the supplied applications.
As a software platform capable of sustaining a fully functional retail banking system TranzAxis is naturally very suitable for full-service integrated retail banking automation projects.
Easily scalable to meet different performance requirements, TranzAxis appeals to any size of financial institution, allowing innovative banking services to be quickly introduced into the market, as well as enabling hitherto unknown economies.
Compass Plus is very keen for our customers, partners, prospects and other interested parties to know us better. To learn more about TranzAxis please follow the links below.
TranzAxis Instant Issuance: an innovative solution from Compass Plus, which enables financial institutions to issue EMV and magstripe cards in-branch in a matter of minutes.
White paper: Optimising Payment Platforms for Profitability & Commercial Success: Enabling customisation to boost performance, accommodate change and retain competitive advantage.
Interview: Compass Plus Innovative Development Project: TranzAxis Retail Banking Platform
TranzAxis has been developed by Compass Plus, a global provider of comprehensive, integrated and flexible software and services that help financial institutions meet rapidly changing market demands. Our diverse customer base spans retail banks, processing centres, national switches and personalisation centres across Europe, Asia, Africa, the Middle East, and North & South America. With more than seventeen years experience, Compass Plus helps build and manage retail banking and electronic payment systems that generate new revenues and improve profits for its customers.
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