SANTA CLARA, Calif., Nov 05, 2008 (BUSINESS WIRE) -- Savvion(R), the trailblazing business process management (BPM) company, today introduced Savvion Banking Foundation, a BPM-enabled solution that enables banks to keep pace with the rapid changes precipitated by the current credit and financial market crisis and to comply with new regulations and requirements. It allows banks to monitor and improve their business processes across a wide range of banking functions, including loan processing, underwriting, and servicing.

"In these volatile times, regulatory agencies are scrutinizing financial institutions more than ever," said Dr. M.A. Ketabchi, President, CEO and founder of Savvion. "Banks' management must be able to monitor, control, and continuously improve their business processes in real time. They must also leverage investments made in existing information systems, integrate with disparate systems inside and outside their enterprise, and continuously optimize their operating costs."

Enabling Banks to Meet the Challenges of a Changing Industry

Banking Foundation allows financial institutions to quickly and easily build solutions to handle whatever new regulations are imposed, giving them the increased agility and flexibility that traditional banking solutions do not deliver.

Most software solutions for the financial services industry are business applications with hard-coded business processes. Weeks of expensive and time-consuming development and engineering effort are required whenever processes in these applications need to be changed. In contrast, Banking Foundation users can implement process changes and deploy them globally in a fraction of the time because of the open architecture and user-friendly interfaces of Savvion's proven business process management system.

Savvion Banking Foundation encompasses a comprehensive collection of artifacts, process models and templates, along with reference implementations and best practices tailored specifically for the banking industry. As a result, customers are able to build new and flexible banking solutions that can be changed easily to meet future needs.

Key Advantages of Savvion Banking Foundation

-- Intelligent Work Assignment allocates tasks to the right people using work allocation logic that is controlled by attributes that are easily defined and configured.

-- Activity-based Job Aid minimizes or eliminates the need for rework and allows employees to perform their tasks faster and more efficiently without errors.

-- Enablement of External Participants provides electronic business communication with customers and vendors while allowing process managers to monitor and control the exchanges.

-- Insourcing and Outsourcing Support gives banks the flexibility to outsource certain portions of an end-to-end business process without losing the ability to monitor and control.

-- Reusable Information Models and User Interface Elements make it easier, faster, and more economical to develop new banking solutions.

-- Configurable Dashboards and Reports enable staff and managers alike to have a real-time, easy-to-understand view of their key performance indicators and reports.

-- Support for Industry Standards provides coherency and consistency across all information systems -- even those of other banks whose systems may be different.

-- Integration with Existing Business Systems allows banks to leverage their existing IT investments.

More than 300 of the world's top-performing companies, including 20 of the Fortune 100, choose Savvion to operate more productively and profitably. As the business process management trailblazer, Savvion moves enterprises beyond ordinary BPM with groundbreaking business-critical software solutions and services that make them more competitive and cost-efficient, including a return on investment as high as 300%. Savvion has a proven track record for turning process improvement ideas into real world solutions within 30 days. Headquartered in Santa Clara, California, Savvion can be reached at www.savvion.com or 888-544-5511.
 

SOURCE: Savvion