The Foundation for Developing Intelligent Systems in the Financial Sector
In the fast-evolving world of fintech, companies need systems capable of working together seamlessly to achieve operational excellence. Achieving this smooth functionality requires two fundamental components: integration and orchestration. Integration represents the connection between different systems, while orchestration ensures that operations are organized and executed efficiently.
Integration?
At Tasheel, integration refers to the process of connecting different systems to function as a unified entity, enabling seamless and efficient data exchange. We achieve this integration through APIs (Application Programming Interfaces) or specialized software solutions that bridge the gap between legacy and modern systems. Integration at Tasheel is a key component because:
- Eliminates system silos: Each system can instantly exchange data with others, boosting operational efficiency.
- Reduces the need for manual data entry: Data is automatically updated across all integrated systems, minimizing errors and saving time.
- Provides multifunctional solutions: For example, merchants or financial institutions can use integrated solutions to manage accounts, payments, and customer relations in one platform.
Benefits of Integration in Fintech
Improved User Experience
Users and customers have a seamless experience across integrated systems without needing to switch between multiple platforms.
Saves Time and Effort
By directly connecting systems, operations can be completed faster and with less effort.
Enhanced Operational Efficiency
Integration reduces data duplication and inconsistencies, allowing businesses to operate at a larger scale and with greater efficiency.
Orchestration
At Tasheel, orchestration goes beyond merely connecting systems; it involves intelligent control and management of the workflow between different systems. Our orchestration focuses on organizing processes so that each step is executed at the right time and in the correct sequence to achieve optimal results. This requires advanced tools to manage integrated systems and automate end-to-end processes, ensuring a smooth and efficient workflow.
The Role of Orchestration in Fintech
Managing Process Flow
Orchestration defines how and when different systems interact with each other. For example, in processing a financial transaction, orchestration ensures that the balance is verified first, the payment is processed next, and finally, the client records are updated
Real-Time Interaction
Orchestration enables real-time operations, enhancing the efficiency of financial transactions, such as immediate payment confirmation or real-time invoice issuance.
Automating Complex Processes
Orchestration allows the automation of processes that require multiple steps between different systems. For example, in an international bank transfer, the system coordinates between different banking systems to ensure successful completion of the transaction.
How Does Orchestration Enhance Integration?
- Ensuring Full Integration Between Systems: If integration is the foundation, then orchestration ensures that these systems work efficiently together. For instance, if you have a Customer Relationship Management (CRM) system integrated with a payment system, orchestration ensures that each payment is instantly recorded in the system.
- Dynamic Interaction: Orchestration enables systems to interact dynamically, making automatic decisions based on available data. For example, if a payment fails, the system automatically tries to resolve the issue or notifies the client accordingly.
Integration and Orchestration Together: The Ideal Solutions for Advanced Systems
When combining integration and orchestration, you can build an intelligent system capable of executing financial operations efficiently and smoothly. Integration provides the necessary infrastructure for connecting multiple systems, while orchestration fine-tunes and manages operations to achieve maximum effectiveness.