Source: BT Radianz
BT Radianz, one of the leading global providers of financial services connectivity, announced today that Bishop Cavanagh Limited, an international market leader in banking systems consulting and applications support and outsourcing, will use BT Radianz's data centres and network services to launch TRANSFORM – a complete, industry-specific outsourcing solution for international banks.
TRANSFORM utilizes BT Radianz's low latency, high availability connectivity to offer end-to-end operating applications outsourcing to international banks. It will allow banks to manage fast and efficient implementations/upgrades over a single, secure global connection. By providing customers cross border business capabilities, TRANSFORM satisfies the industry's need for outsourcing functionality that comprehensively fulfils technical, business process and regulatory requirements.
Penny Michaels, Director, Bishop Cavanagh, said: "We are very excited about the immense benefits this solution will bring to our market in enabling banking institutions to transform their systems with lower risks and costs than traditionally available. Being able to connect our customers rapidly, efficiently and reliably 24 x 7 across all their global enterprises is an instrumental advance in our market. This new capability – coupled with system implementations, enhancements, and upgrades rolled out centrally - will restore our customers' competitive advantage with lower risk and overall IT spend. We see a great synergy with BT Radianz in terms of industry specialisation, commercial approach, core values and strategic aims. Working with BT Radianz, we are able to provide a seamless, transparent solution and optimum customer care."
David Stopforth, head of European sales, BT Radianz, said: "Our relationship with Bishop Cavanagh is indicative of the flexible value proposition BT Radianz can offer to different types of financial institutions. There are a significant number of banks that are either at the end of their technology investment cycles or confronted with inefficient legacy systems, devouring disproportionate amounts of budget. Compliance deadlines have increased the pressure for banks to revise their outsourcing needs. IT spending constraints have created an environment where maintenance and cost reduction are key. As a result this solution satisfies the industry's need."
Bishop Cavanagh is planning to continue to expand its portfolio of services and products that can be delivered via BT Radianz in order to further extend the availability of banking solutions.