EVOLV's architecture and deployment methodology has been designed to enable financial institutions maximum flexibility, scalability, extensibility, and future adaptability. While other software vendors attempt to solve these problems individually, no other provider approaches the solution the way Primatics does – by building a foundational set of core software services that fits with a financial institution’s current financial systems architecture and enables any solution to leverage the same data architecture, calculation engines, reporting framework, and workflow orchestration.
Solutions built upon the EVOLV Platform have distinct advantages over standalone point solutions:
EVOLV's open-ended and extensible architecture includes a number of unique features that differentiate it from static point-solutions:
This architecture fits seamlessly with a financial institution’s overall financial systems architecture and leads to better integration, scalability across all processes, and a faster response to changing requirements.
While other platform providers may provide generic toolsets for users to operate, EVOLV contains five core "engines" that are specific to addressing any process relating to financial instruments ("FI's"). The engines represent the "lowest common denominator" of capabilities needed by financial institutions to address current and future needs relating to their FI's, or loans.
This engine is built around the concept of responding and processing against identified FI lifecycle events such as payments, draws, exits, charge-offs, or modifications to name a few. EVOLV understands how the combination of events within the life cycle warrants certain calculations to be applied.
Workflow EngineEVOLV fits into business process of a financial institution by providing workflow orchestration hooks that allows EVOLV to be driven and controlled by a larger workflow process such as initiate data loads, kick off accounting or forecasting runs, recieving notification and alerts and assign users to review and approve results.
EVOLV can easily express mathematical computations, both simple and highly complex (including a robust model execution capacity), in one central area that is already integrated with all the other engiens. This enable EVOLV to adapt very quickly to changes.
EVOLV maintains a sub-ledger system where all entries are tracked against a series of natural accounts. EVOLV's unique sub-ledger architecture not only represents accounting entries, but maintain parallel views of all balances from borrower, servicing accounting, and tax perspectives.
This engine seamlessly integrates with EVOLV SMART Data. Users gain direct access to the underlying data model enabling users to perform adhoc reporting, dash-boarding, drill-downs, and multi-dimensional analytics. EVOVL smartly organizes risk and finance information at the FI level enabling automation of all reporting needs.
EVOLV is considered a Vertical Software-as-a-Service ("SaaS") Solution. In contrast to SaaS, Vertical SaaS providers like Primatics focus on building solutions that are industry-specific and designed to address key common customer concerns. At Primatics, we are focused on financial institutions and accordingly our SaaS infrastructure is to designed to (a) meet data privacy concerns and implementing best-in-class data segregation controls; (b) provide Real Functional service level agreements (SLAs) such as uptimes and quality of service; (c) satisfy banking compliance needs; and (d) provide extension points and a deep Integration framework to meet individualized needs.
EVOLV is a Vertical SaaS application built to solve functional needs of the financial services industry. It is an open and extensible platform that is architected to be domain-aware. The platform provides:
EVOLV has been architected from the ground up to solve for the rapidly evolving software needs of one of the most heavily regulated and security-sensitive industries in the world: financial services. Our distinct platform is secure and extremely scalable by design.
Security is about trust. Primatics understands that security is a top concern for our customers and that they are mandated to ensure independent verification of all security and control procedures on a regular basis to satisfy their shareholders and regulators. Primatics employs third-party certifications and audits including annual SOC 1 Type II and SOC 2 Type II. Primatics supports and integrates with our customers’ controls and audit processes, providing them access to the information they need to ensure compliance.
Primatics’ security strategy provides comprehensive and state-of-the art technologies, processes and controls at multiple levels of data storage, access, and transfer. Below are the key components of this security and controls strategy:
Primatics takes every precaution to make sure your confidential information stays that way.
Tracking account activity, file access, settings changes and nearly everything else that occurs in EVOLV.
Comprehensive security roles and permissions to ensure that the right people have the right level of access.
EVOLV protects the confidentiality and integrity of your data in transit and at rest.
Primatics uses multiple data centers to build redundancy into EVOLV. All data centers employ a variety of secure mechanisms, including strict access policies plus secure vaults and cages.
Security comes down to trust: trust in the people, the processes and the technologies with a full understanding of the security challenges with which financial services companies are faced. Primatics has a proven security track record with a clientele list representing half of the top 25 banks and 60 clients overall in the highly regulated financial services market. The security architecture of Primatics is designed to be agile and responsive to the ever-changing regulatory environment of the financial industry.
EVOLV has been architected to "fit" within a financial institutions overall financial systems architecture. Client can customize aspects of EVOLV and extend EVOLV's capabilities through the same Platform Engines that Primatics uses to develop its solutions.
EVOLV's integrated business rule engine allows automated, real-time transformation of incoming data as it enters the system. This is a key feature in EVOLV SMART Data that allows incoming source data to be cleansed and transformed as it is loaded, preparing it for downstream processing. Turbo-charge your data preparation process by fully-automating all data load and transformation steps, all in an intuitive rule-based language that eliminates the need to build custom ETL processes.
With EVOLV SMART Data, users can leverage the platform's rich data model to construct custom reports and dashboards directly within the web browser interface. Extend EVOLV's existing reports or create new ones from scratch to deliver exactly the intelligence your organization needs to manage operations, satisfy compliance requirements, and gain insight into your business.
EVOLV is designed to host financial calculation models, distribute them across a scalable computing grid, and connect them with loan data on the platform. EVOLV's model integration API is a mechanism for plugging in and deploying any calculation model on the platform. Whether it's our models, your models, or a third-party model, EVOLV can execute your complex business calculations in a scalable, controlled, and audited computing environment on the right population of instruments.
Through the model API, independently-developed calculation models can generate and discount cash flows, apply loss-curve vectors, manage macroeconomic assumptions and model inputs, and access loan-level attributes stored on the platform. This flexible architecture allows multiple models to be hosted and executed side-by-side with results easily compared, facilitating attribution and sensitivity analysis, scenario analysis, stress testing, new business forecasting, and challenger model comparisons.
Models developed with the EVOLV model API can take advantage of the platform's management of input attributes and output results. EVOLV models are pure calculation engines – the platform provides database and transaction management, assumption and model input management, distribution and scaling, and storage and reporting of results.