SolitX is a modular, consistent, and extendable product engine for any financial product—from savings and loans to bonds, swaps, futures, options, etc. Built with RESTful APIs for cloud-native or on-premise architecture, SolitX enables configuration of any financial instrument without a software change and accelerates product launches from months or years down to weeks. Deliver any state and computation to any system or booking engine 24/7.
Key SolitX Technology
- Configure any financial instrument without software change
- 24/7 life-cycle management
- End-of-day at any time needed
- Deliver in milliseconds - no batch processing
- Restful API - deliver state of the instrument wherever needed
- Connect to existing booking engines
- SolitX as subledger or as the booking engine
- Based on Open-Source ACTUS Financial Standard
The Problem
The design of banking systems has evolved over the past fifty years by responding to a series of urgent demands. This approach has produced complex, siloed systems centered around a rigid and costly core. Introducing new products now takes a considerable amount of time and money, often making it unfeasible. Additionally, a majority of expenses are consumed by maintenance of inconsistent systems.
The Solution
The central element of the financial system – the core or the transaction processing systems – needs to be redefined by putting the financial contract at the center of any systems architecture. SolitX enables the core activity of the bank, which is the creation, the life cycle management und the buying and selling of financial contracts such as loans, mortgages, deposits but also stocks, bonds and any derivative. Most traditional cores and neo-cores cover only simple products or deposits and work with auxiliary transaction processing systems perpetuating chaotic architectures. SolitX covers the entire range of financial products as defined by the open-source ACTUS financial standard.
SolitX excludes work-flow elements which serve as pre- or post-processes to the management of financial products such as KYC, AML, face recognition etc. These processes covered by fintechs integrate easily into SolitX via API.
The Benefits
A modular, consistent, and extendable product engine for any financial product — from savings and loans to bonds, swaps, futures, options, etc. Built with RESTful APIs and cloud-native architecture, SolitX allows for the configuration of any financial instrument without a software change. It accelerates product launches from months or years down to weeks.
SolitX delivers data and/or the state of any financial instrument to a booking engine or any other system. It can also serve as the ledger and booking engine of a bank or any financial institution. SolitX is particularly relevant for the developing needs of 24/7 environments. It can produce End-of-Day positions at any given time and whenever needed at any level of aggregation.
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