Fernbach's FlexFinance Loan technology integrated with IBM's FileNet P8 platform
17 July 2007 | 1541 views | 0
The Fernbach-Software Group, a provider of banking software solutions for loan processing and Enterprise-wide Value and Risk Management, has agreed to form a technology partnership with world leader IBM.
The objective of this partnership is to integrate the FERNBACH product 'FlexFinance Loan' with the IBM FileNet P8 Enterprise Content Management (ECM) and Business Process Management (BPM) platform. As a business application for lending operations, FlexFinance Loan enables personal and corporate loans to be processed efficiently while the IBM FileNet P8 ECM platform provides an all-in-one, comprehensive functionality for enterprise content management and business process management including business process monitoring.
The two companies can bring their extensive know-how in supporting lending processes into the partnership to the greatest possible benefit of the customers. Besides co-operating at technological level, the partnership also involves wide-ranging joint activities for marketing integrated products.
Thomas Platt, Board Member, FERNBACH-Software AG explains: "We are delighted that IBM chose FERNBACH to partner with. IBM FileNet Enterprise Content Management (ECM) solutions are installed in nearly 1,000 financial services organisations around the world, including 23 of the top 25 global banks. On this fundament as well as on more than 20 years' experience of both partners, together we offer banks a truly unique solution for modern loan management".
"FERNBACH surpassed all credentials to IBM and therefore we knew we had the best partner. Only recently, FERNBACH succeeded in proving the excellent efficiency and leading architecture of the solution FlexFinance Loan at one of Germany's leading, major banks. Simply the fact that a project, which involved replacing one lending system in operation in more than 100 branches, could be completed in just three months, is evidence of our partner's know-how and achievement potential", says Peter Becker, Channel Management Enterprise Content Management, IBM.
Installing this joint solution, which are based on a Java platform, means that reactions times to lending market requirements are vastly quicker, flexible and efficient while also reducing implementation and operating costs. New or existing business processes can be immediately automated and adapted. The associated documents are administered reliably in the electronic credit file by IBM FileNet P8 and are readily available, thus allowing all parties to a transaction access to all relevant documents in every processing phase of a loan.
Furthermore, the extensive analysis and monitoring functions enable real-time management of results and highlight business performance data. Therefore providers of financial services can improve their ability to react and take decisions in matters concerning lending operations.