Monolith’s Digital Investment Banking Platform has been supporting banks, brokerage firms, and investment fund managers in sales, settlement, and accounting processes for their investment services for more than 20 years.
In this article, we explore exactly what happens in the background and what the secret of Monolith's success is. Join us in the world of Monolith and let us introduce you to the benefits of modern investment services!
Monolith: successful transition from Forms to the Oracle APEX environment.
We have succeeded in phasing out Forms technology for all our clients, except for two Hungarian banks. As a result, the entire Monolith functionality now operates in the Oracle APEX environment. Last year we finished the APEX migration project at UniCredit Bank Romania successfully, so the Back Office functions have been migrated into APEX from Forms technology as well.
What's going on under the bonnet?
The Digital Investment Banking Platform currently uses the Oracle Database engine, where the business logic is essentially written in PL/SQL, while the interface is provided by Oracle Forms technology.
In 2016, we developed our brand new B2B sales support system in Oracle APEX.
The APEX low-code development environment has played a significant role in the successful and timely introduction of compliance with MiFID2 legal requirements for our Hungarian and Romanian banking clients, simultaneously with our new front-end system.
We have subsequently made the decision to move the back-end functions to the APEX environment.
Where knowledge and technology meet
The phasing-out of Forms has created the opportunity for our clients to reorganise their operations and to optimise and automate their processes. This not only benefits IT in modernising technology and reducing IT OPEX, but it also significantly increases the efficiency of business processes It is in the interest of every company to take advantage of the opportunities offered by modern technology.
Within Monolith, we possess knowledge in the field of technology and investment services, which enables us to effectively support our clients that are reorganising their processes.
Knowledge of the Monolith system allows the planned processes to be implemented in the system.
We know that a complex project cannot be implemented for larger clients in one big transition. That is precisely why our approach is to implement a continuous transition in phases by topic. The initial step focuses on critical processes and then we continuously extend the new technology to other processes.
Should a new investment service product or process be introduced in the meantime, we will of course implement it simultaneously with the new technology.
Additionally, we have paid special attention to ensuring the Monolith system is also accessible to our clients in the Oracle Cloud Infrastructure (OCI) environment.
Currently our clients can choose whether to use the application in an on-premises or a cloud environment.
We are flexible and ready to provide investment service support in a SaaS deployment. To accomplish this, our internal development and test environments are already running on OCI.
Monolith is on a path to grow as we collaborate with and support our clients as they modernise their processes whether with our on-premises or cloud applications.
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