27 April 2018

BluePhoenix reports deal with European insurer

17 December 2007  |  1490 views  |  0 Source: BluePhoenix Solutions

BluePhoenix Solutions (NASDAQ: BPHX), the leader in value-driven legacy modernization, today announced that it has closed the first stage of a modernization deal with one of Europe's largest insurance conglomerates.

In the pilot phase of the process, BluePhoenix will assess the potential for application consolidation at the corporate level together with a proposed roadmap of modernization.

The new customer for BluePhoenix is the parent company of a large European concern that consists mostly of insurance companies but also includes property management, finance and investment service subsidiaries. Based on the customer's existing legacy environment, the potential roadmap may include large-scale database and application modernization.

BluePhoenix has successfully executed assessment and modernization projects for a variety of insurance and financial customers, using highly automated tools for application and database migration. By analyzing the results of the initial assessment, the best, least risky, and most cost-effective modernization path is developed.

"Increasing global competition and rising costs are putting pressure on insurance companies to reduce costs, provide competitive pricing and improve customer service," said Arik Kilman, CEO of BluePhoenix. "We are working closely with this new and very large customer as they embark on the initial pilot phase of modernization. We are confident that we will be able to assist them to successfully complete the first stage of assessment and continue on to a more comprehensive roadmap of legacy migration and modernization."

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit http://response.ncr.comVisit www.nextgenbanking.co.uk

Top topics

Most viewed Most shared
Irish central bank tunes in to fintechIrish central bank tunes in to fintech
9923 views comments | 20 tweets | 21 linkedin
TransferWise launches multi-country bank accountTransferWise launches multi-country bank a...
9238 views comments | 26 tweets | 22 linkedin
JPMorgan to roll out Voice ID; begins branch expansionJPMorgan to roll out Voice ID; begins bran...
9107 views comments | 6 tweets | 8 linkedin
Physical cash retains its popularity in face of electronic onslaughtPhysical cash retains its popularity in fa...
8757 views comments | 15 tweets | 17 linkedin
TSB customers rage as migration to Sabadell platform goes awryTSB customers rage as migration to Sabadel...
8730 views comments | 6 tweets | 6 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job