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To assist and guide the banking industry in achieving an architecture closely aligned with business objectives, leading banks are sharing their requirements for core services with leading software and services vendors to implement these services based on formally defined semantics.
A Business Function Model (BFM) is a general description or category of operations performed routinely to carry out an organization's mission. They "provide a conceptual structure for the identification of general business functions". [27] It can show the critical business processes in the context of the business area functions. The processes ...
Information Framework (IFW) is an enterprise architecture framework, populated with a comprehensive set of banking-specific business models. It was developed as an alternative to the Zachman Framework by Roger Evernden. [1] [2] [3] The banking specific business models are an extension to the Component Business Model.
This framework is based on a division of the model into description views and levels, which allows a description of the individual elements through specially designed methods, without having to include the entire model. The methodology serves as a systems development life cycle for mapping and optimizing business processes. These processes are ...
The hierarchy in the model is based on the notion that an organization operates a number of business functions, each function requires information from a number of source, and each of these sources may operate one or more operation systems, which in turn contain data organized and stored in any number of data systems. [4]
A function analysis diagram (FAD) is a method used in engineering design to model and visualize the functions and interactions between components of a system or product. It represents the functional relationships through a diagram consisting of blocks, which represent physical components, and labeled relations/arrows between them, which represent useful or harmful functional interactions.
There is a separate REA model for each business process in the company. A business process roughly corresponds to a functional department, or a function in Michael Porter's value chain. Examples of business processes would be sales, purchases, conversion or manufacturing, human resources, and financing.
IDEF0 Diagram Example. IDEF0, a compound acronym ("Icam DEFinition for Function Modeling", where ICAM is an acronym for "Integrated Computer Aided Manufacturing"), is a function modeling methodology for describing manufacturing functions, which offers a functional modeling language for the analysis, development, reengineering and integration of information systems, business processes or ...