Transoft Application Integration Adapter to become Republic Bank's Middleware Cornerstone

Transoft Enables Lower-Risk, Phased Roll Out of New Banking System - Better Service for Customers

November 21, 2001 - Transoft, a leading international provider of application transformation, assembly and integration products and services, today announced that Trinidad and Tobago's Republic Bank Limited has chosen the Transoft Application Integration Adapter (Transoft AIA), a member of the Transoft Intelligent Adapters suite, as the key middleware of its comprehensive computer system modernisation program.

Transoft's first task is to help Republic Bank gradually transfer its current branch banking systems to a more modern application, providing better functionality to the bank and improved service for its customers.

The Phoenix Banking System from London Bridge Group will replace Republic Bank's in-house core banking application in phases. Compared to a 'big bang' switch to a new system, this phased approach offers a progressive, rollout with much less risk and without the huge capital requirement which simultaneous infrastructure replacement demands. But typically such a phased transition requires the complete conversion of selected branches from old to new systems, while the remainder continue to run the old and this leads to a loss of customer service because branches cannot handle transactions from customers of the other branches.

This was unacceptable, because a key requirement for the bank is to preserve its excellent level of customer service - it wants to be able to continue to service any customer at any branch, during the whole replacement process. This necessitates middleware to integrate heterogeneous branch transactions from a whole range of sources including ATM's, Internet, Intranet and Interactive Voice Response. The Transoft Application Integration Adapter solves the problem.

The key is the Adapter's ability to intelligently interpret and route each branch transaction to either the old or new back-end application, as appropriate, irrespective of whether the branch itself had been modernised. In practice, this means that the account records for a number of branches are being transferred to the Phoenix system, then in phases, the records from the other branches. At this point the old core system can be switched off, followed by the phased replacement of the branch equipment and software. The benefits include not only uninterrupted customer service, but also earlier switch-off of the old core system, cost savings and earlier return on investment.

"It was essential to the bank that the middleware solution not impair the current level of system performance and ensure timely processing of all transactions," said Albert Stewart, Applications Manager, Business Transformation Unit of Republic Bank Limited. "Transoft's solution is expected to meet this requirement with flying colors." The new banking system is scheduled to go live at a number of branches in July 2002, then progressively throughout its remaining offices. The result will be a truly modern, integrated client/server banking environment and it is proposed to use Transoft AIA in the development and deployment of additional solutions at Republic Bank.

"Transoft's middleware will provide the integration backbone to allow for a smoother transition from legacy systems to our Phoenix Banking System. It will also communicate with Phoenix's API's to provide a seamless integration with other applications at Republic Bank" said Fiona Wallace, London Bridge Group Phoenix division's Chief Operations Officer.

"The Transoft Application Integration Adapter offers a high-performance solution for companies that need an advanced way to support the uninterrupted flow and transformation of a high volume of transactions," said Paul Holland, Transoft's chief executive officer. "Our agreement with Republic Bank Limited is extremely important, as it yet again shows the versatility and adaptability of Transoft's Adapters in the financial services industry."

"We view Transoft as a very valuable business partner in our modernisation strategy. Their very comprehensive approach has been flexible and adaptable to our specific needs, giving us the best chance of project success," concluded Republic Bank's Stewart.

Transoft has previously installed similar Transoft AIA based solutions at Corporación Colmena and Banco Caja Social in South America, Alpha Bank in Cyprus and a large, US-based financial data centre that processes transactions for more than 300 banks nationwide.

About Republic Bank:
Employing over 2,500 people, Republic Bank Limited offers full retail, commercial and corporate services in Trinidad and Tobago through its 48-branch network. It is the flagship of the Republic Bank Group, a $2.5 billion financial services market leader, with operations in Trinidad & Tobago, Barbados, Grenada, Guyana and the Cayman Islands.

About London Bridge Software:
London Bridge Software - helping companies act like people

London Bridge Software is the only company to specialize in the provision of software products to financial services companies for all their core activities. The software is designed to carry out intelligent consumer interaction and improve efficiency in: customer acquisition, core banking and administration, credit and debt management, credit scoring, risk management, customer segmentation, marketing, customer management and cross-selling.

London Bridge's Phoenix Banking System creates a fully integrated client/server banking environment that is able to serve head office and extended branch office operations, for all core areas of retail and commercial bank data processing. The Phoenix concept combines the information management and control capabilities typically found in the traditional mainframe-based systems with the product development flexibility and ease of use associated with microcomputer systems.

London Bridge Software has over 600 customers across the world including such companies as Chase Manhattan, HSBC and Ford. London Bridge Software employs over 600 people in nine offices across UK, USA and Asia Pacific.

Read more archive stories