Bucharest, Romania, May 22, 2015 -- /EPR NETWORK/ -- BPM Wave, a recognized Leader in the delivery of process automation solutions for the Financial Services market, has announced the launch of a broad portfolio of Commercial and Operational process applications for the Global Banking Sector.
By the end of 2015, the company’s initial cloud portfolio will include commercial offerings for Loan and Account Management, Salary Processing, Credit Card Management and Letters of Credit and Guarantee. Operational applications will fall in the areas of Human Capital Management and Financial Decision Management, including solutions for Onboarding, Leave Requests, Bonus and Overtime Approvals, Expense Report Management and CAPEX & OPEX spend authorization, to name some.
The current and developing solutions roadmap is built on the company’s award winning Plenary™ platform, providing rapid deployment and a unique level of client “self-manageability”. The solutions can be deployed via hybrid private or public cloud infrastructures, based on the security needs and preferences of the clients. Both private and public cloud offerings will leverage IBM’s market leading and innovative WebSphere solutions, Cloud platforms and POP networks across Europe, North America and the GCC.
Cloud services is perceived by most industry experts to be the new paradigm of computing that will exist over the next several decades – the logical evolution of what is commonly referred to as “dynamic” IT; entailing shared access to virtualized resources over the internet. Global spend in cloud computing is massive, with a forecasted compounded growth rate that is roughly five times the growth of the IT industry overall.
Within the Global Banking sector, the benefits to cloud deployment models are perceived to be numerous, including reduction in processing times for customers and with it, improved customer service, a greater choice of banking channels and services, more rapidly accessible products and services and extending services to unbanked and under banked citizens. Cloud also offers banking institutions the opportunity to shrink capital expenditures on technology and shift them to operating expenditures.
“We see vast potential for our BPaaS (business process as a service) offerings within the Global Banking landscape”, said Jonathan Wiener, Partner and Director for Global Development for BPM Wave International, AG.
“The banking industry, a leading adopter of process automation solutions since the inception of the technology, is one of the most competitive of all market sectors. With this in mind, the push for rapid service deployment is greater than ever, resulting in a second generation of commercial and operational process automation initiatives. Our hybrid cloud solution offerings are designed to help banking client’s fast track and in some cases circumvent long deployment cycles, to deliver faster commercial and operational returns. In particular, we believe cost benefits will be a compelling part of the argument, as IT spending within banking, as a percent of total cost is highest of all industries”, says Mr. Wiener.
About BPM Wave:
BPM Wave (http://www.bpmwave.ch/) provides business performance improvement solutions that optimize the performance of a company's most missions critical business processes, instill a continuous improvement cycle in a company's operations and monitor all key metrics to organizational performance.
Over the past 10 years, BPM Wave has developed a deep BPM solution portfolio that includes business process improvement offerings for gaining increased governance and control across a variety of key organizational operational areas such as Finance, Human Capital Management, Contract and Policy Management, Investment Analysis, Inventory Monitoring and Production Planning, to name some. These solutions, now numbering more than 100, have been implemented in 18 countries and across a broad spectrum of Public and Private sector verticals such as Banking, Aviation, Oil & Gas and Power & Utilities.
Within the Banking Sector, BPM Wave has implemented over one dozen different Corporate and Retail banking applications within client organizations that include ProCredit Bank and Banca Romaneasca of Romania, Mashreq Bank of Dubai, Gulf Bank of Kuwait and Bendigo Adelaide Bank of Australia.
BPM Wave is present in Europe through its headquarters in Switzerland and operations center in Romania and in the Middle East with offices in Dubai and Abu Dhabi, UAE.
BPM Wave solutions have won global awards from IBM and Metastorm, leaders in the International BPM platform development space. Most significant in the list is IBM’s 2014 “Smarter Process” Award, naming our Plenary™ application the best BPM application developed in the Global IBM BPM community.