IBM unveils new software solutions for Middle East banking, finance and insurance customers

The new software solutions will be complemented by services and support from IBM, as well as industry-specific applications software from thousands of independent software vendors (ISVs) around the world. The launch of the solutions follow IBM's recent global announcement that it will reorganize its $13.1 billion software business to focus on cross-brand application packages tailored for vertical industries.

"IBM is taking its software business in the region one level higher by focusing on certain industries, such as banking, finance and insurance, and developing solutions for these industries based on a combination of our broad set of software offerings. This new strategy presents an enormous growth opportunity for IBM in the Middle East," said Bashar Kilani, manager of IBM's software group in the Middle East and North/West Africa. "In the last few years, we have seen a growing trend in the market for solutions that cater to specific industries and we are now addressing that. Our solutions ensure that our customers in each sector can use software solutions that are not only cost-effective and flexible but are customized to their particular business needs."

IBM Middleware Solutions for Financial Markets
IBM is announcing five new solutions to address some of the key business priorities within financial markets firms in the region: Risk and Compliance Foundation, Front Office Insight, Trade and Order Management, Financial Information Interchange and Post-Execution Integration. The Financial Markets industry is facing increased regulations, and many firms must update their business processes to establish appropriate controls, measure risk, and ensure compliance. IBM's new Risk and Compliance middleware solution provides customers with the infrastructure required to manage regulated processes such as internal controls, data retention, financial publishing and operational risk management. These solutions can help financial market firms manage compliance activities related to a variety of industry regulations and directives from agencies.

By combining a common set of data and integration capabilities with application function from best-of-breed ISV's, IBM provides software that customers can use to help them comply with statutory requirements through a flexible infrastructure. With the regulatory climate evolving rapidly, this flexibility can help customers turn compliance into a business advantage.

IBM Middleware Solutions for Banking
With the goal of delivering superior customer service at the lowest costs within the banking industry, IBM has announced solutions for Wholesale Payments Processing, Branch Transformation, Core Systems Transformation, Channel Empowerment and Risk & Compliance. IBM's Wholesale Payments Processing Solution can enable a customer to centralize and manage repeatable payments processes and consolidates access to external financial networks, allowing banks to eliminate costly, duplicative efforts. IBM's Branch Transformation Solution provides a flexible, scalable, and secure branch infrastructure that allows banks to migrate from outdated and difficult to manage branch IT systems. In addition, IBM's Branch Transformation Solution enhances access to information and collaboration to help banks improve customer-facing employee productivity and reinvent the branch as a full-service financial center capable of selling more to valued customers.

IBM Middleware Solutions for Insurance
Today insurers are faced with increasing pressures to improve their operating efficiencies. To ease these pressures, IBM has five new insurance offerings: Integrated Claims Management, Integrated Underwriting, Policy Management, Channel Distribution Integration and Insurance Customer Insight. For example, IBM's new Insurance Integrated Claims Management solution can help insurers increase both the efficiency and effectiveness of their claims organization through a faster settlement process.

The IBM Middleware Solutions for Insurance bring together IBM core software product capabilities and industry-specific IBM middleware, which are further extended by the capabilities of the IBM Business Partner ecosystem. For example, the Channel Distribution Integration solution leverages the core capabilities of WebSphere Business Integration, WebSphere Portal and Tivoli products complemented by industry-specific middleware capabilities provided by the WebSphere Business Integration ACORD adapter and the Financial Services Portal Workbench Framework.