FinGrid - Financial Business Grid

Increasing competition in the German banking sector leads to a high pressure for restructuring and further automation in IT-related business processes for smaller regional banks as well as for leading financial institutes. Additionally, new legal regulations such as Basel II and customer needs that are changing into the direction of highly customized financial products on demand enhance this pressure. To face these challenges, the Financial Business Grid (FinGrid) project strives to identify suitable services and processes in the financial service industry and to develop Grid-based systems that enable financial service providers to reorganize their processes efficiently or to realize applications that have been unthinkable without the Grid with respect to the computational requirements. Recent research approaches mainly focussed on the technical implementation of Grid systems, sense making commercial applications, however, are very rare. For this reason, the investigation of the profitability and suitability of economically based Grid systems is a new and promising research topic. To guarantee relevance for the target industry, the projected research will be performed jointly with our business-related partners Deutsche Bank, Dresdner Bank, FinanzIT, IBM, DataSynapse and PA Consulting. Grounding on the technical foundations of D-Grid new applications for banking service provisioning together with integrated pricing and accounting structures will be developed jointly with our industrial peers.