Savvion Announces Banking Foundation for Business Solution
11/05/2008
Savvion has recently begun releasing business process management (BPM)-based packaged applications to go along with its BPM middleware. The latest example was announced November 5. (ebizQ recently interviewed Ajay Khanna of Savvion with details to appear on the BPM In Action blog.)
ebizQ received the following:
Savvion has introduced Savvion Banking Foundation, a BPM-enabled solution that enables banks to keep pace with the rapid changes precipitated by the current credit and financial market crisis and to comply with new regulations and requirements. It allows banks to monitor and improve their business processes across a wide range of banking functions, including loan processing, underwriting, and servicing.
“In these volatile times, regulatory agencies are scrutinizing financial institutions more than ever,” said Dr. M.A. Ketabchi, President, CEO and founder of Savvion. “Banks’ management must be able to monitor, control, and continuously improve their business processes in real time. They must also leverage investments made in existing information systems, integrate with disparate systems inside and outside their enterprise, and continuously optimize their operating costs.”
Enabling Banks to Meet the Challenges of a Changing Industry
Banking Foundation allows financial institutions to build solutions to handle whatever new regulations are imposed, giving them the increased agility and flexibility that traditional banking solutions do not deliver.
Banking Foundation users can implement process changes and deploy them globally in a small amount of time, according to Savvion, because of the open architecture and user-friendly interfaces of Savvion’s business process management system. Savvion Banking Foundation encompasses a comprehensive collection of artifacts, process models and templates, along with reference implementations and best practices tailored specifically for the banking industry. As a result, customers are able to build new and flexible banking solutions that can be changed easily to meet future needs.
Key Advantages of Savvion Banking Foundation
- Intelligent Work Assignment allocates tasks to the right people using work allocation logic that is controlled by attributes which are easily defined and configured.
- Activity-based Job Aid minimizes or eliminates the need for rework and allows employees to perform their tasks faster and more efficiently without errors.
- Enablement of External Participants provides electronic business communication with customers and vendors while allowing process managers to monitor and control the exchanges.
- Insourcing and Outsourcing Support gives banks the flexibility to outsource certain portions of an end-to-end business process without losing the ability to monitor and control.
- Reusable Information Models and User Interface Elements make it easier, faster, and more economical to develop new banking solutions.
- Configurable Dashboards and Reports enable staff and managers alike to have a real-time, easy-to-understand view of their key performance indicators and reports.
- Support for Industry Standards provides coherency and consistency across all information systems – even those of other banks whose systems may be different.
- Integration with Existing Business Systems allows banks to leverage their existing IT investments.
Print this article
Email this article
Talk Back!
Write to Editor
