IBM Banks

IBM introduces new banking framework: better infrastructure and reduced risks Armonk-16 Sep 2009 IBM (NYSE: IBM) introduces a new, intelligent banking industry framework in the form of a software platform, currently in helping banks, to be able to more easily adapt to changing business requirements and regulatory requirements. At the same time it can help in the future, more flexible and more cost-effective IT operations. As part of the IBM smarter planet strategy, the new platform enables banks, modernization, to simplify management and monitoring of their systems and to reduce operating risks at the same time. The new IBM banking industry framework offers banks an alternative to the traditional and risky RIP-and-replace approach. The framework relies on a progressive transition with industry-proven data and process models, which are already deployed by more than 250 financial institutions worldwide. As a result, banks can renovate their infrastructures more secure and modernise. One of the outstanding features of the new framework is that it aims at the core of the IT infrastructure.

Maintenance and management of core banking systems typically comprise more than half of the total IT spending. These costs are not only at the expense of budgets, which should serve the actual innovation and improvement of infrastructure, but also still continuously – increasing complexity to rise as banks need to continually modify their core systems. Banks often hesitate with the consolidation of legacy applications, because this process can be often extremely difficult and associated with possible service interruptions. “There is a central need in the banking industry for a unified platform that can cover various task panes in a financial organization and helps harmonise silo systems, caused by merger, acquisitions and partial modernisation of infrastructure,” says Eckhard Bilitewski, IBM global business services, head of financial services industry business development. “Banks are looking for ways to work smarter. The IBM banking framework provides a flexible, unified software platform, the banks can help anticipate future customer needs organizationally and to reduce the cost of development, operation and maintenance of systems.” The new platform breaks through the silos that often exist between the departments of a Bank, and allows higher data transparency and Anwendungssharing.

For example, a Department of transactions between different business units can track identifying for example fraud incidents before they occur, while colleagues can use the same analytical tools in another Department, customer behavior and preferences to examine. The IBM banking industry framework addresses four key areas that consume the vast amount of resources and attention from banks, and provides a path to accelerated transformation. The areas addressed are: integrated risk management to support a holistic approach to the management of financial, operational and IT risks, the detection and prevention of fraud and compliance issues customer support and analysis to provide a basis for the creation of a unified analysis of customer banks for more efficient and effective service and sales payments and securities sector, to help banks here to make their payments more flexible and efficient core banking transformation, which allows banks to modernize existing systems, the Corebanking functions to maintain, and at the same time to adapt to changing business requirements. The IBM banking industry framework integrated IBM middleware and important ISV-(Independent Software Vendor) applications. A number of market-leading ISVs works closely with IBM, so that banks can best cope with the current tasks. The combined solutions from IBM and ISVs, which provides the IBM banking industry framework, allow banks to a higher return on investment and more flexibility. IBM Austria

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