The banking industry is experiencing unprecedented change with some even questioning whether it is possible to effectively serve customers, meet new regulatory requirements, and create innovative new business models while sustaining profitability. It is safe to say that with increasing Tier 1 capital requirements, declining margins, and increasing operational costs, the economics of the banking industry must change. The Microsoft Industry Reference Architecture for Banking (MIRA-B) is a technology reference architecture, based on Microsoft’s platform and services, that is designed to help financial institutions reduce costs and drive strategic growth.
MIRA-B, a development and delivery framework that provides clarity on technical capabilities and implementation approaches to support enterprise IT architecture planning, helps financial institutions modularize and align business and technology assets in a predictable way. MIRA-B outlines a roadmap for the future that provides the architectural flexibility to deliver industry solutions on-premise or in the cloud. As a result, this supports new business models, profit streams and customer experiences that enable financial institutions to leverage technology as a means of being present in the lives of their customers any time, any place, across channels and devices.
Microsoft is uniquely positioned to help financial institutions address industry challenges and opportunities by providing a comprehensive range of mission-critical IT solutions and capabilities which span front to back office, device to datacenter, on-premise and cloud. These capabilities include highly scalable server and client infrastructure, secure data and application platforms, Big Data and predictive customer analytics, ultra-low latency OS-level support, productivity, CRM/xRM, workflow and collaboration, as well as the connected user experience.