FirstRand Bank Limited (FirstRand Bank), one of the largest financial institutions in South Africa, has selected Incentage's Service Bus (ISB) to replace its existing Swift legacy message management infrastructure and to re-engineer its worldwide messaging services.
FirstRand Bank, one of South Africa's big-four retail, commercial and investment banking groups, has selected the Incentage Service Bus (ISB) to manage its current and future SWIFT and other messaging requirements. The state-of-the-art and SWIFT-accredited Incentage EAI (Enterprise Application Integration) solution, together with Incentage's format neutral data management, infrastructure and business activity monitoring modules will assist FirstRand Bank effectively manage challenges in the interbank and intra-bank messaging domains.
Incentage's solution flexibility, technical and business domain skills and significant replacement experience in the legacy and mid-range world not only modernises the Bank's actual infrastructure but also opens new business opportunities. In addition, it offers value added services for cost and operational risk reductions together with business flow and technical architecture optimisations.
The migration is planned to be completed before the end of 2009, offering a very attractive return on investment.
The Incentage Service Bus will also allow FirstRand Bank to respond very quickly and pro-actively to new market needs and market practices, including requirements coming from regulators and market infrastructures.
"The selection of the Incentage Service Bus as our application of choice will enable us to remain at the forefront of the messaging arena. The solution's flexibility will allow us to respond rapidly to the ever-changing messaging landscape and leverage off our SWIFT infrastructure in new and innovative ways" says Rob Green, Head of Payments at FirstRand Bank, Johannesburg.
Felix Huber, Incentage's CEO, is delighted to supply Incentage solutions to one of South Africa's major players: "FirstRand Bank can benefit from a solid foundation based on state-of-the-art technology, innovative solutions, domain knowledge, delivery capability and vast subject experience. This uniquely powerful combination transforms FirstRand's messaging infrastructure into a long term strategic success factor."