25 February 2018
visit www.nextgenbanking.co.uk/

Automated FInancial Systems taps IBM Cloud

14 November 2016  |  2240 views  |  0 Source: AFS

IBM (NYSE: IBM) today announced that Automated Financial Systems, Inc. (AFS), a global leader in commercial lending to top-tier financial institutions is utilizing the IBM Cloud to expand its loan processing capacity to support its overall growth and market expansion.

AFS, whose clients include two-thirds of the top 25 U.S. banks and bank holding companies, turned to IBM Cloud Managed Services on z Systems which extends the scalable and security-rich processing capabilities of IBM z Systems in a hybrid cloud environment, to establish a new hosting and recovery plan that supports the 24/7 demands of offerings such as AFSVision, the only real-time, linear lending system that manages the commercial lending lifecycle from loan origination to account servicing and reporting.

These newfound efficiencies have allowed AFS to expand existing client portfolios and onboard new clients into production much faster than ever before. IBM's delivery of a highly flexible operating environment allowed AFS to double its processing capacity, and run times for several critical AFS applications were improved with IBM Cloud Managed Services on z Systems - some by as much as 100 percent.

"Our decision to adopt IBM Cloud Managed Services on z Systems was made with the knowledge that IBM consistently has delivered for clients and evolved alongside them for decades," said Mike Bogdash, Managing Director at AFS. "The efficiencies that we've received from this platform has boosted our processing capabilities and makes it possible for us to implement a client into production much quicker."

To better protect its operations and encourage higher-quality customer service, AFS also has adopted an IBM business continuity and resiliency services plan that provides the financial software company with an alternative site recovery solution in the unlikely event of a disruption. Seventy percent of financial risk managers cited cyber risk as their top concern in a 2015 survey for an event that could affect global financial systems. Financial policy leaders also have emphasized that cyber risk needs to be viewed as a major priority rather than a limited technology issue, with financial services encountering security incidents 300 percent more frequently than other industries.

"AFS holds a commanding position in its industry while continuing to innovate its IT infrastructure in today's digitized world," said Martin Jetter, Senior Vice President, Global Technology Services, IBM. "IBM Cloud Managed Services on z Systems is designed to amplify mainframe efficiencies and offer new opportunities for AFS to respond to evolving client environments and achieve future growth."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Register for the webinarVisit http://info.nice.comVisit https://www.capgemini.com

Top topics

Most viewed Most shared
Ripple makes new connections to emerging marketsRipple makes new connections to emerging m...
12159 views comments | 16 tweets | 10 linkedin
hands typing furiouslySome Interesting Applications Of The Inter...
10494 views 4 | 9 tweets | 1 linkedin
Basel Committee outlines disruptive fintech scenariosBasel Committee outlines disruptive fintec...
8884 views comments | 15 tweets | 26 linkedin
Investment Association sets up fintech accelerator for asset managersInvestment Association sets up fintech acc...
8329 views comments | 19 tweets | 10 linkedin
R3 creates Legal Centre of Excellence for blockchain technolgyR3 creates Legal Centre of Excellence for...
7947 views comments | 10 tweets | 14 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job