Postal Savings Bank of the Philippines selects IDEALINVENT’s ConnectCoreTM – Core bank
The Philippine Postal Savings Bank (“Postbank”) has selected IDEALINVENT’s next generation banking platform ConnectCoreTM to implement vital core banking functions. Postbank, established in 1906, operates as a thrift and government depositary bank and has chosen the GL, Loans and Microfinance modules from ConnectCoreTM - Core bank. This solution will enable the bank in achieving their 5 year strategic objectives of doubling the number of branches and providing loan services to the unbanked through more than 1,900 post offices located throughout the country.
One of the most important considerations that led to the bank choosing ConnectCoreTM was the product’s demonstrated high stability and ease of configuration. Also as the bank is looking to go live in a short timeframe they were assured quick and easy implementation by ConnectCore’s highly configurable product design and web services driven Service-Oriented Architecture.
IDEALINVENT’s local distribution and implementation partner QNX Solutions, Inc. (QSI), has this week commenced the implementation activities of the core banking project. The ConnectCoreTM system will be initially rolled out to Postbank’s head office in Manila and then to its 25 branch network and microfinance business offices, located all over the country.
Energbank chooses ConnectCore™ to enable their Internet and Mobile banking services.
Energbank is a retail bank that offers services to individuals and corporate clients in the Republic of Moldova. Energbank, which has 70 branches throughout the republic of Moldova, has opted for the Internet and Mobile banking solutions that are a part of the ConnectCore™ - Channels & Mobility product. Energbank's online services will initially be available to individual customers and later extended to commercial customers as part of their future road map.
The entire ConnectCore™ platform is built on a robust and superior technology framework, allowing it to fuse into a service oriented reference architecture. ConnectCore’s Channels & Mobility solution is capable of offering the Client’s end customers access to differentiating features such as: a unified communication platform for them to speak to their bankers seamlessly across channels; an intuitive UI coupled to ensure ease of use; and most importantly excellent security features for their peace of mind.
In ConnectCore™ - Channels & Mobility, Energbank has chosen a product that is built on a robust and superior technology framework, allowing it to fuse into a service oriented reference architecture ensuring rapid implementation, and low cost of ownership. Our delivery to the Client was very compact and it included ConnectCore’s standardized library of published SOAP web services to allow smooth integration. With these web services our client truly owns their middleware and could create a standard services architecture not dictated by vendors. We provided our client with a set of descriptions of all our web services related with our channels integration component ‘Connector’.
The bank is nearing completion of integrating the channels with their core system and is expected to go live in early May 2014. This project, one of the more technically advanced in the Moldovan financial market, will offer strong online presence and mobile capabilities for Energbank, and make it one of the most technologically advanced bank in the country.
DataMatrice™ chosen as migration tool by Bank DnB Nord, Denmark
Bank DnB Nord has chosen DataMatrice™, data transformation solution from IDEALINVENT as the data management and transformational engine for its new multi-country core banking roll out.
DataMatrice™, with its proven abilities to extract, transform and manage data specifically crafted for banks, is being used as the data migration tool to migrate data seamlessly from legacy system to the new core banking platform. The bank was able to achieve success on a single switch migration with data being transformed to suit the new system seamlessly using DataMatrice™.
The success of DataMatrice™ in migrating one of the country locations has prompted the bank to deploy such migration techniques for the entire rollout for their multi country migration strategy.
"The IDEALINVENT team proved adept at transforming legacy data into the required formats for migration. Using DM they provided an efficient and clean data transformation enabling the project to meet tight deadlines during migration weekend."
DataMatrice™ the preferred data management tool for Bank DnB Nord, Denmark
DataMatrice™ has been selected by Bank DnB Nord to handle all data management also used by the bank as engine to handle various data transformation needs for interfaces to financial data warehouse and other systems and regulatory bodies.
With unique abilities to configure business rules for data extraction from various systems, transform them into required formats and exchange them with other systems and external environments the bank aims to make considerable savings on development and fine tuning cost associated with data handling.
DataMatrice™ powers data transformation at Bank DnB Nord, Denmark
DataMatrice™ has been selected by a large Nordic branch for migration from their legacy systems to the new core banking system being implemented. Our team will also render professional services in analysing and handling the entire migration activities for the bank from end to end. This is will happen in stages beginning with one country and is set to roll out for all the countries that the project aims in accomplishing - which is slated to last over the next 18 - 24 months.
DataMatrice™ is being used by the largest savings bank in Spain in two installations to comprehensively handle all data transformation requirements including local clearing, regulatory reporting and head-office reporting. This implementation was carried out by us along with Everis, a Spanish integration company.
DataMatrice™ with its unique functionality to configure data extraction and transformation rules for banks, has assisted the bank in achieving a quick go-live for their international expansion in record time and reduced costs.