| Connectivity has become a vital demand in the financial services industry. Firms want to be able to connect to their clients, counterparties, vendors, utilities, and market infrastructures securely, reliably, conveniently, and cost effectively. Good connectivity not only is important for firms to lower processing costs and manage customer relationships better but also can mean success or failure while exploring new business opportunities.
Financial extranets like the two dominant initiatives—Radianz and Global Crossing—promise such connectivity through their open Internet protocol-based networks. They expect their networks to create unprecedented connectivity for firms, allowing firms to discover new prospects and service current clients much better.
This TowerGroup Research Note will be useful to the following readers:
Institutions will find the Note helps them to understand the concept of the financial extranet and to distinguish between the two efforts leading the industry in this area—Global Crossing and Radianz.
Application providers, integrators, and content providers will discover what opportunities lie in the financial extranet market space and how they can use these networks to grow their business further.
This Research Note also analyzes Radianz and Global Crossing and outlines key differences between them and the challenges they will face in the next few years.
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