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ING London contracts for Microgen Aptitude

15 June 2009  |  2467 views  |  0 Source: Microgen

Microgen today announced that ING Bank NV, London Branch, the wholesale banking business, will implement Microgen Aptitude in its finance division. The implementation of Microgen Aptitude is expected to deliver tangible business benefits within six months.

Microgen Aptitude provides business users with the ability to define the business rules associated with accounting and reporting logic for complex financial investments via its graphical interface. Its workflow and exception management tools increase automation and provide a more flexible environment for responding to shifting banking requirements.

Many UK banks rely on Microgen to provide a robust and scalable environment that provides visibility into their reporting and auditing processes to allow them to meet regulatory demands. In today's evolving financial markets, banks are gearing themselves up for a number of reporting changes and know that they need to be able to balance tightening financial reporting procedures, with the ability to deploy changes to business processes quickly. Designed for high transaction volumes, Microgen Aptitude is perfectly placed to help banks meet these challenges in a highly demanding market and has already been extensively deployed to help mitigate the financial challenges associated with changing financial and regulatory requirements such as IFRS.

"Microgen has invested extensively in Microgen Aptitude and our accounting and reporting solutions for investment banks, enabling the move to principle based regulation by means of a financial rules engine that is designed for change. Microgen Aptitude also delivers the high volume transaction throughput and transaction integrity required in financial services today. Full audit trailing and transparency enables clear oversight of controls and processes required by current and emerging legislation," said Elizabeth Sipiere, Managing Director Finance, Microgen.

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