FINANCIAL SERVICES NEWS

Inovant to Vet Visa Transactions with ILOG JRules
Integration part of complete VisaNet overhaul

Inovant, the IT arm of Visa International, is integrating ILOG JRules business rule software into the automated functionality of the subsidiary’s new Web-based profile management system. The rule component will enable Inovant to better maintain the business-policy logic governing Visa’s electronic interaction with its 21,000 member banks.

The new profile management system is part of a complete overhaul of VisaNet, the world’s largest and most sophisticated consumer financial transaction processing system. Inovant operates the global transaction-processing network supporting Visa’s products. ILOG JRules will be used to automate the complex validation tasks associated with clearing transactions.

"We manage a tremendously complex global transaction processing system," says Dimitri Karavias, senior vice president of VisaNet Management Systems at Inovant, "and as we re-engineer that system to meet the rapidly growing payment volume generated by Visa, we need tools like ILOG JRules that can bring greater efficiencies to the system. We selected ILOG JRules because it is flexible and easy to embed, allows us to dynamically change our member profile management application, has the performance to support our highly demanding transaction volume and reduces the development cost of making changes to the profile management system."

Inovant’s non-technical personnel will benefit from the customizable rule language support of ILOG JRules, which allows them to quickly update VisaNet in response to rapid changes in the market and customer demand. Also, ILOG JRules externalizes business rules, allowing them to be written and then integrated with VisaNet without taking the application offline.

ILOG JRules supports the creation of flexible, adaptable business rule syntaxes. This unique capability lets business users write rules using easy-to-understand rule terminology tailored to their own industry, rather than a one-size-fits-all business rule language.

Paired with ILOG JRules Rule Editor, a rule language editor that has an intuitive GUI, rule creation is greatly simplified. Other key features of the product include support for eXtensible Markup Language (XML), for the sharing of business rules on the Web, and Enterprise Java Beans, for applications running on the Java Standard Enterprise Edition platform.