Merrill implements Tibco BPM and SOA technology

Merrill implements Tibco BPM and SOA technology

US bank Merrill Lynch is implementing technology from California-based Tibco Software to streamline its back office operations using business process management (BPM) and a service-oriented architecture (SOA).

The bank is implementing Tibco's Staffware Process Suite and BusinessWorks software to streamline the automation and execution of back office business processes, including clearing and settling trades in securities and derivatives, funds transfers and data management.

"Our clients are demanding new service models with more transparency into trading operations and better service level agreements," says Rahul Merchant, senior vice president, Merrill Lynch Global Business Technology. "Our investment in BPM and SOA software will enable us to both streamline our operations and provide superior client service."

Tibco says its technology will enable Merrill to eliminate redundancy in reporting and analysis and promote the reuse of global services.

Merrill is also working with IBM and California-based SOA Software to secure and manage Web services projects. The bank is implementing SOA Software's Service Manager platform, which provides security, monitoring, management and governance of Web services, while IBM is providing project management services.

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