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FinGrid - Financial Business Grid

The next step in creating efficient banking processes 

Increasing competition in the German banking sector is leading to a high pressure for restructuring and further automation in IT-related business processes in banks and financial services providers. Additionally, new legal regulations such as Basel II and customer needs that are changing into the direction of highly customized on demand financial products enhance this pressure.

To face these challenges, the Financial Business Grid (FinGrid) project strives to identify suitable services and processes in the financial services sector and to develop Grid-based systems that enable financial services providers to reorganize their processes efficiently and to realize applications that have been impossible so far in terms of computational requirements. Recent projects mainly focused on the technical implementation of Grid systems, while research on sustainable business models and commercial applications are still rare. Therefore, FinGrid aims both to contribute to the literature by empirical analysis of the potentials of Grid from an economic perspective and by the design and development of three Grid-based prototypes.

To guarantee relevance for the target industry, the projected research will be performed jointly with leading financial industry research partners. Grounding on the technical foundations of D-Grid, three new applications for banking service provisioning together with integrated pricing and accounting structures will be developed, tested, and implemented within the financial services sector.

  • Prototype I is a pricing and billing component for Grid services – in cooperation with Deutsche Bank and IBM
  • Prototype II is a Grid-based customer portfolio performance measurement and management tool – in cooperation with DataSynapse and Dresdner Bank
  • Prototype III is an asset-backed security factory based on Grid architecture – in cooperation with FinanzIT and PA Consulting

These prototypes will be developed and implemented under consideration of existing D-Grid middleware and resources. Sustainability of the research results is guaranteed due to the direct transfer of results into the financial services sector and the expected publications in national and international academic peer-reviewed media.

The FinGrid project is lead by the E-Finance Lab (http://www.efinancelab.de). Detail information about the research topics, publications, events, teams and partners can be found at our website www.fingrid.de.