TIBCO Software, a business integration and process management software company that enables real-time business, has announced that Merrill Lynch selected TIBCO Staffware Process Suite and TIBCO BusinessWorks to drive improvements to the operating efficiency of the back-office using business process management (BPM) and a service-oriented architecture (SOA).
"Our clients are demanding new service models with more transparency into trading operations and better service level agreements," says Rahul Merchant, Senior Vice-President, Merrill Lynch Global Business Technology. "Our investment in BPM and SOA software will enable us to both streamline our operations and provide superior client service."
Merrill Lynch`s back office processes include processing, clearing and settling trades in securities and derivatives; managing funds transfers; providing customer service for proprietary and client assets; and maintaining control over static product and client data. Using TIBCO BPM and SOA software Merrill Lynch will help to streamline the automation and execution of these business processes, eliminate redundancy in reporting and analysis and promote the reuse of global services.
"The link between the speed and distribution of real-time data is a key element to gaining and sustaining growth," says Vivek Ranadiv'e, Chairman and CEO, TIBCO Software. "Aggressively improving back-office operations using BPM within an SOA allows financial institutions to retain the trust of customers and more rapidly deliver value by leveraging actionable data and insight."
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