Year-on-year, we continually invest in our technology, functionality and range of product offerings, this is particularly reflected in our decision to redevelop IBAS from scratch (and this at a time when many other companies were cutting R&D budgets).
Not Guessing, but Listening, Evaluating and Developing
As a starting point, we took input from more than 400 banks, based on existing customers (including those in the Nordic region, Central and Western Europe and Africa), discussions with other institutions, requirements documents and other sources.
The Upshot of Our Vision
What our vision allowed us to do was reduce the concept of banking to granular objects based on the generic make-up of financial instruments. IBAS GBF - Global Banking Factory is made up of 20,000+ objects, many of which are reused in any one banking product. Our key visions for the rebuild were centered on flexibility and openness through this pure object-oriented design. This approach has brought extremely high rates of straight-through processing, control over workflows and processes, rapid time to market for products, and ease of integration with other applications. There is an unprecedented level of object reuse that brings a factory-type approach to banking (long-touted but elusive until now). An additional benefit is the ability to easily bundle products.