The Bank of New York announced today that its Software Development Assurance Division recently received CMM Level II certification for its software engineering practices.
The Bank of New York received certification on its first attempt and in just 12 months. The Software Engineering Institute (SEI) at Carnegie Mellon University reports that less than 45% of companies achieve certification on their first try and the average time frame is 18 months. Certification is based on satisfying internationally recognized standards developed by SEI.
“The
Bank of New York’s achievement of receiving CMM Level II certification in just 12 months, 6 months sooner than the average firm, attests
to our ongoing commitment to bringing superior software solutions to market in a timely fashion,” said Samuel P. Gentile, senior vice
president and manager of The Bank of New York’s Software Development Assurance Division.
“As we have improved the rigor and overall effectiveness of our development process, we have experienced higher productivity and lower costs and have been able to increase the quality of the products we deliver to our customers. We will continue to improve our processes and procedures and are seeking CMM Level III certification.”
Developed by SEI, the Capability Maturity Model (CMM) provides a framework for measuring the maturity of an organization’s software development process.
CMM certification is received after an extensive review of the principles and practices that govern an organization’s software development process by an independent assessor who is licensed by SEI to award the designation.
SEI is a federally funded research and development center that helps organizations make measured improvements in their software engineering capabilities and fosters the adoption and sustained use of standards of excellence.
The Bank of New York’s Software Development Assurance Division serves as an internal consultancy, addressing development work that has been outsourced to it from various areas within the Bank. Its software developers provide support for many of the Bank’s core business lines, including asset management, securities settlement and securities custody accounting,
and are responsible for developing and managing the processes and procedures that govern all software development at the Bank.
“The Bank of New York is focused on providing innovative technology solutions to our customers around the globe. Attaining CMM Level II certification demonstrates our commitment to ensuring that these solutions are of the highest quality,” said Kurt D. Woetzel, executive vice president and chief information officer of The Bank of New York.
“Software development is a critical part of the Bank’s technology strategy. This certification confirms that our model is successful and recognizes our continuing effort to consistently deliver innovative and reliable software products to our customers in a timely and cost-effective manner,” added Woetzel.