New TowerGroup Research Examines Fast-Evolving Space of 'B2Bank'
Integration
CHICAGO, April 16 /PRNewswire/ -- NACHA Payments 2007 Conference --
Financial institutions offering wholesale banking as a line of business to
corporations currently face unrelenting pressure from clients to improve
their integration technology services. New research from TowerGroup finds
high expectations from clients regarding banking solutions that allow them
to select communications protocols, data formats, and security methods to
best meet their own requirements and integration capabilities. The
integration challenge for large corporations is heightened as they try to
manage hundreds, even thousands of global supply chain relationships
(including banks) using consistent integration tools.
To meet these demands in a cost-effective manner, TowerGroup believes,
banks must partner with technology providers offering deep expertise in
business-to-bank (B2Bank) integration - defined by TowerGroup as the
technology used to manage the connections between the applications running
at a bank, and the financial and accounting systems of its corporate or
other wholesale clients.
"Banks must demonstrate their commitment to providing corporate
customers with robust and flexible integration solutions," said Susan
Feinberg, Research Director of the Wholesale Banking practice at TowerGroup
and author of the research. "With clients expecting higher levels of
resiliency and service quality, real-time integration to accounting and
treasury systems, and faster implementation of new products and services,
banks need to choose the B2Bank solution provider that best aligns with
their strategy to meet clients' objectives."
Highlights of the research include:
-- Banks increasingly view B2Bank integration solutions as critical to the
technology infrastructure needed for the deeper integration clients
demand.
-- B2Bank solution providers are approaching the market from a range of
different perspectives - as well as offerings. Bank executives should
determine which provider's vision best matches their own regarding the
future demands for B2Bank integration capabilities. More specifically,
banks must ask the question: which company is likely to provide the
most successful long-term partnership for them and their clients?
-- TowerGroup profiles vendor solutions for Managed File Transfer and B2B
Gateways in this research, including those offered by: Axway; GXS;
Sterling Commerce; Tumbleweed Communications; and WebMethods.
TowerGroup estimates that this set of technology providers encompasses
over 90% of the third-party, B2Bank integration solutions market.
The new report titled "Connecting Banks and Corporate Clients: B2Bank
Integration Solution Alternatives," by Feinberg, examines the technology
providers whose integration solutions are marketed to top U.S. and global
financial services institutions for the purpose of managing connectivity
between these banks and the systems run by wholesale clients.
The report is available to qualified members of the press for review.
To request a copy or to arrange an interview with Ms. Feinberg, please
contact Rachael Adler at +1.212.455.8037 or radler@cooperkatz.com. Those
interested in subscribing to a TowerGroup research service may call
+1.781.292.5200 or email service-info@towergroup.com.
Ms. Feinberg is scheduled to lead a session at NACHA Payments 2007
titled, "Service-Oriented Success in Payments: Beyond Accuracy & Time." The
session is scheduled for Tuesday, April 17 at 8:15 a.m. Ms. Feinberg will
co-present with Lance Hill, General Manager, WebMethods, Inc. and Brad
Stewart, SVP, Group Product Manager, Wells Fargo.
At TowerGroup, Feinberg's research covers all aspects of the wholesale
banking space, online authentication guidelines, US automated clearing
house, treasury management, and continuous linked settlement (CLS).
About TowerGroup: TowerGroup is the leading research and advisory
services firm focused exclusively on the financial services industry. A
respected source for trusted information and advice, TowerGroup brings many
of the world's leading financial institutions, technology companies, and
professional services firms a deeper understanding of the business and
technology issues impacting their organizations. Headquartered near Boston
in Needham, Massachusetts, and with offices in North America and Europe,
TowerGroup serves a global client base. Visit http://www.towergroup.com for
more information.
Contact:
Anne Green Rachael Adler
agreen@cooperkatz.com radler@cooperkatz.com
+1-212-455-8017 +1-212-455-8037
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