What Is Concert?
Concert is a banking integration platform that helps financial institutions and technology providers quickly and securely integrate, maintain, and monitor disparate banking applications. By doing so organizations can quickly launch new banking solutions, deliver a consistent experience across channels, and leverage their data for all types of analytics (e.g., marketing, support, fraud detection).
Financial institutions use Concert to increase control, increase implementation speed and normalize their data so they can deliver a better experience for their members or customers. Concert also allows financial institutions to publish APIs or services for both internal development teams and external FinTechs to quickly offer innovative solutions to the marketplace. The net effect is that financial institutions can better control what solutions they implement and breathe new life into their legacy systems, making them more open and agile so costly conversions can be avoided.
Technology providers, including digital banking firms, loan origination solutions, and core banking platforms use Concert to efficiently integrate with many banking solutions like credit and debit card networks, core banking systems, credit bureaus, and payment platforms. Concert is a multi-tenant solution designed for service providers to efficiently deploy, integrate and monitor their solutions for multiple financial institutions, all while separating and securing configuration, transaction and event data on a per financial institution basis.
Below is a 90 second of Concert’s objectives, capabilities and benefits:
What Does Concert Do?
Concert’s basic functions include:
- Transform data between various application message formats
- Route transactions between applications
- Log transaction and event data
- Monitor and report the status of enterprise applications
- Automatically handle errors
- Scale for peak transaction bursts
- Create redundancy for high availability
- Provide secure transaction processing
- Provide easily searchable logs for support and performance monitoring purposes
How is Concert Different?
Concert is designed specifically for banking. It offers a library of existing service transformers or endpoints (adapters/interfaces/connectors) and a set of tools focused on financial services.
Concert supports connectivity to platforms such as those listed below:
- Various core banking platforms
- Debit and credit card networks
- Shared branching networks
- Loan origination
- Loan servicing
- Credit bureaus
- Funds transfer, P2P and bill pay platforms
- Account opening applications
- Digital banking applications
- Contact center solutions
- Teller systems
- Remote deposit capture solutions
- Imaging platforms
- eStatement providers
- CRM solutions
Using industry standard message formats:
- XML, ISO, CUFX, IFX, OFX
And industry standard communication protocols:
- TCP, HTTPS
What is Concert’s Pricing Model?
Concert’s pricing model can either be SaaS (monthly license & support for five years) or enterprise (upfront license + annual support for five years).
Pricing components include:
- Set up fee
- Concert Platform
- Concert Admin (for configuration and monitoring)
- Concert Research Tool (for log search and performance monitoring)
- Concert Transformers/Adapters
- Concert API(s)
- Concert SDK (optional)
- Allows client to write and update adapters/transformers (based on VisualStudio)
What is Concert’s Technology Stack
- Language: C# .Net 4.6.1
- Database: MS SQL 2016 for Azure Service Bus, any SQL DB or noSQL DB for logs
- Queuing Engine: Azure Service Bus or RabbitMQ
How Is Concert Deployed?
Concert is deployed in the cloud (e.g., Azure, AWS) or on-premise, typically in an active-active manner across geographies.
Connections to external systems, such as core banking, can be via a private internet connection or via VPN over the public internet.
How Does Concert Maximize Uptime?
Concert’s architecture supports distributed processing to maximize the scalability, performance, and reliability required for financial services. Current tests show that Concert supports over 600 TPS on-premise and over 1,200 TPS in Azure. In addition, with distributed processing, new endpoints can be added as needed without any downtime.
Does Concert Support CUFX?
Yes, Concert ESB supports CUFX, a relatively new integration standard created by the CUNA Technology Council (www.cufxstandards.com).
CUFX is an open, modern, and comprehensive integration standard that strives to reduce the time, cost and redundant efforts in systems integration.
Does Concert Have an SDK?
Yes, Concert has an SDK. Programmers can easily create new transformers or modify existing transformers for any external system in any format with Visual Studio.
The Concert SDK can help create transformers quickly with C# and built-in templates for ISO 8583, CUFX, and other formats.
An SDK also makes it easier to create unit tests based on message logs. This way, code quality can be checked before going through a full testing and certification process.
Is Message Logging Supported?
Yes, Concert has built-in support for message logging. Programmers can enhance the logging for any transformer by adding metadata that supports search functions and simplifies troubleshooting.
Message logging also supports field level hashing or encryption to make sure any regulatory or security requirements, such as PCI, are met. The message log database is configured with Transparent Data Encryption for security purposes.
Clients leverage these logs for troubleshooting, support, marketing analytics and fraud detection (using third party tools).
What Message Formats and Communication Protocols Are Supported?
Concert supports any message format commonly used in banking, including XML, ISO 8583, CUFX, IFX, and OFX.
Concert also supports various communication protocols with a robust TCP/IP socket service that can support many different options for connecting to legacy systems. In addition, Concert provides an HTTP(S) service, which can be used with HTML, XML, SOAP, or JSON message formats. These are part of the concert Agent Service and work with the SNMP Service, Event Logging Service, and the Message Logging Service.
Please send us your questions via the Contact Us form.