IBAS Global Banking Factory

The IBAS Global Banking Factory, developed by Commercial Banking Applications AS (CBA), is a banking solution aimed at large and mid-sized banks. According to the vendor, this flexible, scalable, and modular solution is designed to streamline processes, reduce costs, and enhance customer service. It is intended for use by banking professionals, financial institutions, trade finance professionals, payments professionals, and account managers.

Key Features

Global Banking Factory: According to the vendor, this solution is built on international standards and a Service Oriented Architecture (SOA). It is a 100 percent Java, object-oriented, and component-based system that offers complete flexibility in terms of set-up, allowing customers to create and change product attributes and workflows. The vendor claims that it enables rapid time to market and the ability to react ahead of the competition to market changes and opportunities.

Global Package Solution: The vendor states that this solution is a niche 'best of breed' system based on a single system using integrated common tables, rules, objects, and components. It is presented through a graphical user interface and aims to replace aging, unsuitable technology with a highly scalable, secure, flexible, and modular system. Banks have the choice of components to deploy and can maintain compliance with existing regulations while adapting to handle new regulatory requirements.

Technical Flexibility: According to the vendor, the IBAS Global Banking Factory is designed to be independent of language, operating systems, database, hardware, and delivery channels. It only requires the installation of a Java Virtual Machine (JVM) to facilitate the IBAS Application Server and web-based User Interfaces. The vendor claims that the Java architecture provides integrated security, easy scalability, and low distribution and operating costs.

Low Cost of Ownership: The vendor states that the IBAS Global Banking Factory reduces the 'Total Cost of Ownership' by not requiring software installation on employee or customer PCs. It offers centralized installation setup, facilitating system updates without large installation and configuration projects. The vendor claims that the same system can handle different countries, currencies, languages, banks, and more, without the need for reprogramming.

Key Benefits: According to the vendor, the IBAS Global Banking Factory offers benefits such as an extremely short implementation period, low implementation costs, new releases with low operational costs, adherence to best practice international industry protocols and standards, guaranteed efficiency and flexibility, improved and increased customer service, greater business volumes and capability, increased accuracy and productivity, and full future flexibility.