Sibos is one of the world’s premier financial services events which might prompt you to wonder why Adobe is here. It’s simple really, think of all of the people, documents and exchange of information required in financial transactions. I’m not talking about the technology required to move money from one account another, but all of the people facing correspondance that is required to facilate this.
Think of the forms, documents and systems people need to interact with. Most of them sadly are still paper based and are processing information via rekeying or less reliable technology like OCR. Why do they still use paper? It’s familiar, doesn’t require training to interact with, and its portable. Since businesses are made up of “people” and not necessarily trained “users” this makes sense.
Adobe has been refining it’s PDF format over the years to contain not just the “presentation” of information, but also the all important Business Logic and XML Data layer. This means that the PDFs that you interact with using the free Adobe Reader can equally be processed by your Business Systems without manual processing. For the financial industry, this directly translates to reduced costs, higher data accuracy and enables the all important better engagement with customers. Businesses can now move to an electronic solution that meets the needs established by paper workflows without extensive retraining staff and customers.
Of course, Adobe has a whole range of serverside solutions to automate the flow of information, developer tools to quickly realise the desired solution, but most importantly, when the system is in place Adobe gives the “business” people the tools to keep the system, forms, documents etc up to date and to meet the business needs.
So the next time someone asks why Adobe (don’t you guys make that free Reader thing?) are at a financial services event, thats why.