IBM Belgium took over Finance Technology business with the IBBA banking system
Overview:
Finance Technology was founded in 1991. The company grew out of the leading Belgian Bank, Banque Degroof. They decided to create their own back-office banking solution since they were unable to find the right fit in the market place.
Banque Degroof partnered with IBM to create Finance Technology. A majority staff of Finance Technology came from Banque Degroof. Most of the company staff have backgrounds in large Tier 1 banks such as Citibank, JP Morgan.
Platform: Open (IBM)
Product: IBBA
Finance Technology's IBBA product is an open, Euro-compliant, modular banking system that includes all the functionality expected from banking solutions. IBBA can also be tailored to meet individual bank's needs. It offers a global banking system operating in:
• Private Banking
• Wealth Management
• Asset & Treasury Management
• Securities & Capital Markets
IBBA has the ability to run several banks on the same IT platform without compromising brand and customer offering, or running afoul of legal regulations. This considerably reduces the cost of ownership of the IBBA system compared to the alternatives of using other packaged systems or developing an in-house system.
As well as the generic functions included in the basic structures, our IBBA Back-Office system is provided with application modules. These fall globally into three categories:
• “Banking” functions
• “Investment” functions
• “Integration” functions
Clients:
(IBS 2004 / IBBA Total Customers 12 / Live Sites 20)
(IBS 2003 / IBBA Total Customers 13 / Live Sites 21)
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