International Bytes

Sumitomo Mitsui Banking Corp. selected Sybase's PATRIOTcompliance solution to help with the demands associated with the Patriots Act, which was signed and passed in 2001.

The PATRIOTcompliance solution integrates required data sources, systems and automating business processes. It also provides a secure front-end using Sybase Enterprise Portal with pre-built capability to manage, present and report suspicious transaction and update SDN, OFAC and FBI lists.

"Sybase has coupled many of its innovative products to provide an end-to-end solution which strengthens our ability to meet current and ongoing compliance requirements. The component based solution differentiated Sybase from other offerings in the marketplace," said Peter McCormick, chief information officer of Sumitomo Mitsui Banking Corporation. "With Sybase PATRIOTcompliance Solution, we have a robust architectural solution that allows us to confidently address this new business challenge which integrating and extending our existing information systems investment."

Meeting the requirements of the act will be expected of banks in October 2002. Failure to do so can lead to civil and criminal penalties including fines of $1 million per transaction.

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BNP Paribas Securities Services (BP2S), a pan-European provider of securities services, has signed a strategic agreement with Reuters group and TIBCO Software Inc. to assist the bank achieve Straight Through Processing (STP).

TIBCO ActiveEnterprise is a line of EAI products that automate business processes and lower total cost of ownership by creating an integrated network of applications, databases and information. Reuters was chosen to work with the bank to implement the system because of its expertise and presence within the French market.

BNP Paribas Securities Services holds in excess of 2 trillion Euro in assets processes over 22 million transactions per annum and offers services across Europe, the UK, U.S. and Turkey. Reuters is a global provider of financial information, news and technology solution, the media, businesses and individuals.

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Banco de Credito in Peru has renewed a seven-year agreement with ALLTEL Information Services that provides the bank with ALLTEL's software and maintenance and an upgrade of the bank's core banking systems.

ALLTEL software covered in the contract includes systems for deposits, loans, customer information, online collections, architecture and service delivery. The upgrade includes changes in consulting for architecture strategy, project management operations, operational efficiency and application developmental methodologies.

"ALLTEL continues to provides our growing organization with dependable, proven financial solutions, " said Richardo Bustamante, chief information officer for Banco de Credito. "We've chosen ALLTEL's financial solutions because they meet the projected growth for the bank with the least amount of modification, while maintaining the highest level of customer satisfaction."

Banco de Credito is the largest bank in Peru and has 220 branches throughout Peru, Colombia, Bolivia, El Salvador and the United States. ALLTEL Information Services provides the banking industry with software applications, system integration, outsourcing and communications.

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Amalgamated Banks of South Africa (ABSA) has chosen Financial Object's activebank2 to improve efficiency across its Singapore treasury operations.

Activebank2 lets ABSA Singapore more closely control treasury functions. The system has flexible portfolio management capabilities, increased trading capacity, great flexibility, access to an internet-based tool and a front to bank office solution. It also provides real-time mark to market P & L for all deal types and cost-effective market risk management utilizing real-time VaR, NPV and 'what if' scenarios.

"We are very happy to broaden our relationship with Financial Objects any by choosing activebank2 we have met all of our needs for increased functionality, trading volumes and portfolio management," said David Meadows, general manager of ABSA. "Furthermore the scope to develop activebank2 for future products is enhanced. The modules we have implemented provide the flexibility for us to accommodate any new strategic initiatives when required. What was particularly important to us was the ability to integrate with out general ledger systems and activebank2 provided us with the must needed comfort in the area."

ABSA is a commercial and retail bank in South Africa. Located in the United Kingdom, Financial Objects provides banking software and services to financial institutions and new entrants into the banking sector.