TIBCO Software Inc. (Nasdaq: TIBX), a leading enabler of real-time business and the world's largest independent business integration software company, today announced that DBS Bank (DBS), one of the largest financial services groups in Asia, has rebuilt its technology foundation for integration on TIBCO. TIBCO® integration and business process management (BPM) solutions help DBS improve business agility and reduce IT costs.
Prior to using TIBCO, systems at DBS were connected by point-to-point interfaces that were expensive and time-consuming to maintain. Most of these custom interfaces were not reusable, and were duplicated for key services, such as telephone and on-line banking. To solve this problem, DBS decided to re-engineer its technology foundation for integration and create a service- oriented architecture based on TIBCO.
"In the proof-of-concept stage, we evaluated the number of resources each team had to apply to the test problem. We found that TIBCO required fewer resources and experts, by far, than the other vendors and performance tests indicated that TIBCO's scalability and performance could meet the current and future needs of DBS," said Richard Anderson, managing director of the Information Technology group at DBS. "With the new TIBCO-based integration foundation in place, we are now in a better position to implement innovative, cost-saving business solutions. TIBCO is central to the fundamental reform of our technology foundation -- and essential to its success."
Now, DBS uses TIBCO to help standardize back-office services through a service-oriented approach, and the DBS integration team has encapsulated more than 20 host applications, including Internet banking, core banking services and treasury services, with TIBCO's integration solution. DBS plans to build services that wrap the bank's major applications so it can quickly and cost- effectively reproduce distinct versions of its customer-facing applications. The ability to integrate applications rapidly has helped improve the time to market for DBS products and gives the company the agility it needs to react to changing market conditions.
The TIBCO-based technology foundation has been responsible for substantial costs savings, including 50 percent savings in file transfer management and a 50 percent reduction in maintenance and support costs for integration components. Another project was able to cut development costs by 20 percent using the TIBCO solution.
"The combination of TIBCO's expertise in the financial services market and integration and business process management solutions has helped DBS create a lasting technology infrastructure and improve business agility," said Tony Harris, senior vice president, APJ Sales, at TIBCO Software Inc. "This TIBCO- based infrastructure will continue to help DBS offer new services to its corporate, institutional and retail customers, and help grow its business."