Austrian Financial Firms Use SOA To Expand Businesses
Two of Austria's largest financial institutions, the Raiffeisen Banking Group and Uniqa Insurance Group, are working with Software AG to use SOA to expand their businesses into Central and Eastern Europe.Two of Austria's largest financial institutions, the Raiffeisen Banking Group and Uniqa Insurance Group, are working with Software AG to use SOA to expand their businesses into Central and Eastern Europe.
Both companies will use Software AG's webMethods Suite to implement an SOA structure into its new and existing businesses.
When the SOA infrastructure is in place, the two companies will implement a comprehensive Business Process Management Suite (BPMS) - Software AG's webMethods BPMS - across their entire SOA implementation.
The use of BPMS allows users to create the framework - business logic, rules and process models - needed for transforming distinct services into more complex business processes.
In Raiffeisen's case, the platform created will initially be used to help automate their account and credit approval processes in a project described by the company as giving each employee their own "electronic assistant".
Georg Hahn, general manager of Raiffeisen Software Solution, said: "We did our homework over the last five years and have consistently gone in the direction of SOA.
"The benefits of the project are extensive and include improved customer response times, better customer service and better visibility into individual transactions."
Mr Hahn added: "For example, we're looking to provide customers with a ten-minute credit approval. By doing so, we improve customer service and can capture more business."
Recently, Software AG secured a deal with telecoms giant T-Mobile to integrate SOA into its worldwide organization.
T-Mobile International - which has a large presence in the US - will develop IT governance methodology and tools in conjunction with the SOA specialist in order to accelerate the introduction of new products and tariffs.