XML-based Payments Solution

XML-based Payments Solution framework for financial services features DB2 pureXML as the preferred technology for storing, managing, and querying payments data based on industry standards, such as ISO 20022 (also known as “UNIFI”) and TWIST. Solutions based on this framework can help firms rapidly develop and deploy banking applications that support new business opportunities, integrate with their existing IT architects, and comply with industry regulations, such as the Single Euro Payments Area (SEPA).

Payments information is increasingly being captured and transmitted in an XML format. IBM DB2 9 helps you:

• Save labor by reducing the complexity of storing, managing, and accessing industry-standard XML message formats, such as ISO 20022 and TWIST
• Improve business agility
• Improve the integration of new XML data with existing relational data

DB2 provides firms with a common interface and database management platform for traditional corporate data (modeled in tables) as well as standards-compliant payments data (modeled in XML). The new DB2 9 pureXML technology enables firms to manage their XML data efficiently and without manually “shredding” or mapping it into individual columns of various tables. Instead, XML data can be persisted in its native hierarchical format and queries can retrieve only the XML data of interest. Such expressions can be combined directly with traditional relational query expressions to integrate both XML and relational data easily. Furthermore, IBM offers free software to help firms quickly deploy sample databases complete with ISO 20022 or TWIST data and associated database objects, such as XML indexes, pre-built queries, and stored procedures.

Key advantages of the DB2 hybrid architecture include flexibility, high levels of performance and scalability, and support for both IT and banking industry standards.