Nomura Research Institute, Ltd. (NRI), a leading provider of consulting services and system solutions, today announced the first phase of upgrades to its I-Star/LC settlement offering for the new Bank of Japan Financial Network System (BOJ-NET), an online computer network system which processes settlements of funds and government bonds.
The Bank of Japan is scheduled to update BOJ-NET as a part of a two-phased settlement renewal plan, the first of which shall be completed by March of 2014. Through I-STAR/LC, clients can settle Japanese Government Bond (JGB) trades in real-time, as well as have access to efficient account settlement and cash management tools. As the only ASP settlement solution in Japan, I-STAR/LC allows users to reduce maintenance cost and speed up time-to-market. The system also includes robust disaster recovery services through NRI's Osaka datacenter in case of broad area emergencies.
"NRI's I-STAR/LC is the industry standard settlement solution relied on by nearly half of the financial firms in Japan to connect to BOJ-NET," said Shin Kusunoki, Corporate Senior Vice President and Financial & Asset Management Systems Division Manager, NRI. "Therefore, it is imperative that we are constantly staying in tune with the industry changes and shifts to ensure we enhance our system ahead of the curve, to meet our clients', and the industry's, need for an efficient and accurate settlement offering."
In addition to already having adapted to the first phase of the BOJ-NET renewal, NRI plans to enhance I-STAR/LC for phase two to provide the next generation BOJ settlement solutions and will release a completely renewed IT infrastructure after fall 2015.