OCBC Bank Selects SunGard Business Integration to Enable Strategic eBusiness Integration.

From: Business Wire  |  Date: 5/2/2000

SINGAPORE--(BUSINESS WIRE)  May 2, 2000


To achieve better time-to-market for its new products, OCBC Bank has selected SunGard Business Integration (formerly MINT), a leading provider of complete business integration solutions for financial services, as its enterprise application integration (EAI) architecture.

In addition to a speedier time-to-market, OCBC Bank's implementation of SunGard Business Integration's MINT Knowledge solution provides a unified environment for more efficient straight-through processing of financial transactions for its Internet banking, Customer Relationship Management and Cash Management products.

"By using MINT, we are able to remove point-to-point connections, implement an architectural blueprint and to standardize interface mechanisms without affecting the existing interfaces," explained Mrs Teng Soon Lang, head of Information Technology for OCBC. "The MINT Knowledge solution will help us to avoid having to modify programs whenever any interface is affected, thus reducing effort and enhancing the quality of the interfaces."

Hagay Shefi, SunGard Business Integration's president and CEO added, "We are very excited that OCBC Bank has selected us to facilitate delivery of critical eCommerce services to their customers and partners. Our exclusive focus on business integration for financial services yields effective solutions to major challenges such as STP and financial process integration and enables our customers, like OCBC, to take a leadership position and gain competitive advantage in the new economy."

OCBC Bank's range of eCommerce product offerings includes TX123, a B2B portal joint venture with Singapore Computer Systems; eSolutions, a series of Bolero.net enabled electronic world trade systems; and finatiq, Asia's first independent virtual bank.

About OCBC

OCBC Bank is Singapore's second largest local bank with a market capitalization of S$13 billion. Founded in 1932, OCBC Bank operates as a commercial bank with a broad array of products and services provided through a network of local and foreign branches employing some 6,000 employees. This network of 49 overseas branches and representative offices spans 13 countries, including a fully owned subsidiary with 25 branches in Malaysia and one of the most extensive networks among ASEAN banks in Greater China.

OCBC Bank was recently named "Best Bank in Singapore" by US-based financial publication, Global Finance. In Singapore, it has 45 branches and nineteen 24-hour banking centers strategically located across the island.

Apart from its mainstay banking business, the Bank is also engaged in various other financial related activities including finance companies operations, stock brokering, investment management and bank assurance. The Bank's website is http://www.ocbc.com.sg

About SunGard Business Integration

SunGard Business Integration (formerly MINT Software Technologies) is a leading provider of intelligent middleware and enterprise application integration solutions designed exclusively for the financial services industry. Based on the company's knowledge of the complex transaction processes required in financial services, these solutions significantly reduce the effort of integration across organizations, as well as across disparate incompatible systems. SunGard Business Integration solutions empower users by providing the business intelligence, rules and definitions for message processing (including message translation, transformation, enrichment, and routing). SunGard Business Integration solutions are installed at major financial services institutions worldwide.

SunGard Business Integration markets and supports its products in the U.S., Europe and Asia Pacific directly through its network of regional offices and through various business partners. More information on SunGard Business Integration can be found at www.sungard.com

SunGard Business Integration is an operating unit of SunGard (NYSE:SDS),a global leader in integrated IT solutions and eProcessing for financial services. SunGard is also the pioneer and a leading provider of high-availability infrastructure for business continuity. With annual revenues in excess of $1 billion, SunGard serves more than 10,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. Visit SunGard at www.sungard.com.