Mastering System Integration: Episode 1 – Introduction

Today, modern businesses rely on multiple of systems, applications, and technologies to support their operations. However, the challenge is how to ensure these systems can communicate, share data, and work together. That’s where system integration comes into play. Welcome to the series titled “Mastering System Integration”.  Throughout this series, we will explore various aspects of integration, from understanding its fundamental concepts to implementing effective strategies. 

In this blog post, I’ll share the concept of system integration, its importance in today’s business world.

What is System integration?

System integration is the process of connecting various systems and software applications to enable them to function as a cohesive and unified entity. The goal of system integration is to overcome the limitations of each system and create a unified ecosystem where data can be shared, accessed and utilized efficiently.

Benefits of Integrated Systems

Integrated systems offer a wide range of valuable advantages for businesses such as enhanced data accuracy, improved decision-making, increased efficiency, productivity, enhanced customer experience, cost savings, etc…. 

I would like to give some examples to explain the benefits of System Integration:

Think of a case where you are a customer who wants to open your new Credit card. How did the process look like?

Case 1: (It happens quite a few years ago)

Imagine the following scenario:

• Firstly, you receive a call from the Customer Acquisition team at your company. They inform you that they require your personal documents, such as pay slips, forms, and photo ID, for verification purposes. They request you to send these documents via email.
• Once you send the documents, they go through an due dillgence process with different departments. This ensures that the necessary personnel can access and review the documents securely.
• Shortly after, you receive a phone call from a staff member who needs to verify some of the information you provided. This step ensures accuracy and authenticity of the documents.
• Nextly, you are required to attend an in-person meeting at your workplace. The purpose of this meeting is to further verify your employment details and ensure that all necessary requirements met standard conditions. Many more questions, documents are verified and if you are missing any of them, this process might repeated indefinitely…

Case 2: (It’s happening now)

• You apply for a credit card through the online form provided by the bank. After completing the form, you download their banking app and provide all the necessary information and required documents.
• After submitting your application, the verification process begins. The bank’s team reviews your application, assesses the provided documents, and conducts the required checks to ensure accuracy and compliance.
• After a couple of days, you receive a notification with the verification result. Congratulations! Your credit card application has been approved.
• The bank proceeds to process your credit card and promptly sends it to your designated address. In a short period, you receive your credit card and it is ready to use with a few clicks of activation.

In 2 scenarios, the same things are:

• The decision.
• The process to get to that decision.
• The information/ data input that is used to get to that decision.

And the key difference is:

• In the first case, data is kept in separate systems or with separate individuals. Additionally, these data are not transferred in an automated manner. This exposes the internal process to end-users, leading to confusion and exhaustion, as well as an increased risk of data breaches.
• In the 2nd case, the internal process is hidden to the end-user, creating a seamless experience.

For the next part, I will go deeper into the principles, strategies, and best practices for mastering system integration. We will explore real-life examples, case studies, and emerging trends in the field. So, keep calm and stay tuned for the next post.

Source: flinks.com/future-of-kyc