BHF BANK recently implemented SunGard's Octagon system for futures and exchange-traded derivatives processing to support the high-volume trading process. A SunGard customer since 1989, Frankfurt, Germany-based BHF BANK ($85.4 billion in assets) chose Octagon because of the available local support and the product's reputation, according to Vincent van Lith, the bank's managing director.
"Octagon provides - compared with the competition - the best expertise for the local market [Eurex and EEX]," says Van Lith. "International business as well as OTC business can be processed in Octagon. SunGard provides very professional local support."
BHF BANK uses Octagon to perform high-volume processing, serve numerous Eurex non-clearing members and support the bank's expansion into new markets. Prior to implementing Octagon, BHF's back office processed some components of exchange-traded derivatives at a high volume, according to Van Lith. "Our back office processing used partially high-volume-capable components, where most parts were using IBM's DB/2 and its related components," he says.
The SunGard product has enabled BHF BANK to increase processing efficiency, continues Van Lith. "With Octagon, we have been able to fully complete the back-office process chain and meet our top level-performance requirements," he says. "We are now able to process and perform high-volume processing using state-of-the-art technology."
Guardium's Database Security
Guardium (Waltham, Mass.) released software solutions for its SQL Guard database security platform to address compliance initiatives. The company's new database access auditing reports and assessment tests enable firms to automate IT governance requirements for Sarbanes-Oxley (SOX) and the Gramm-Leach-Bliley Act (GLBA). Guardium also introduced its SQL Guard Database Firewall, which allows organizations to baseline database access activities and apply policy-based database access control.
DWL Updates CDI Software
DWL (Atlanta) released Customer 5.5, an update to its customer data integration (CDI) software that includes improvements for compliance with privacy regulations. The new software combines business credit data, customizable decisioning and account management capabilities into a single solution.
Experian's Web-Based Tool
Experian (Costa Mesa, Calif.) launched DecisionOne, a new Web-based credit decisioning and account management tool for medium to large businesses. The solution improves productivity and risk management by combining Experian's business credit database and customizable decisioning and account management capabilities with credit management software provider LiveCapital's (San Mateo. Calif.) technology, according to the vendors.
Wachovia Deploys Verity
Wachovia Corp. (Charlotte) selected Verity's (Sunnyvale, Calif.) Verity K2 Enterprise (K2E) advanced search, classification and recommendation software to help Wachovia's phone representatives quickly locate information and deliver service to customers on in-bound calls. Wachovia deployed Verity K2E to its 14 customer service contact centers, which are located in three time zones, to meet the demands of its growing customer base, 24 hours a day, according to the bank.
Bank Hapoalim Implements StoreAge
Bank Hapoalim (Tel Aviv) deployed StoreAge Networking Technologies' (Nesher, Israel) StoreAge SVM and data protection applications throughout its multisite call centers. The rollout was led by Harel Computers and Communication, StoreAge's Israel-based partner. After examining various solutions, Bank Hapoalim selected StoreAge SVM to manage its SAN, which consists of two identical call center sites - a main site and a disaster recovery site.
Dexia Rolls Out Portiva
Dexia (Brussels) began rolling out Portiva's (Amarillo, Texas) J-PORT software suite in January to provide operational risk management support in performing risk self assessments, managing action plans, capturing loss event data and recording key risk indicators. Dexia will deploy J-PORT to all of its locations in 21 countries worldwide.