Luxembourg-based Lombard International Assurance has hired Reuters and its subsidiary, TIBCO, to improve its STP performance by providing the company with SWIFT connectivity and linking its fund accounting systems and in-house policy management systems. Lombard, which is enjoying some success in selling life assurance across borders in Europe, will install the solution at its Luxembourg base.
Reuters says Lombard selected its joint bid with TIBCO after a review of business integration platforms, and that it integrates applications, databases and other systems, and automates and coordinates the business processes that span them. Deployment of the platform has begun and it is due to be fully operational early 2003.
“The implementation of an Enterprise Application Integration solution is a major enhancement in Lombard’s application architecture,” says Jacques Bouvy, IT Director, Lombard International Assurance S.A. “The ease of use of TIBCO’s technology allows us to be operational earlier than anticipated. TIBCO’s solution helps to reduce the time needed for deployment of the product as well as the risks associated with a new technology.”
Pierre Castagne, Solutions and Consulting Manager, Reuters Belgium and Luxembourg added: “Achieving Straight Through Processing continues to be a crucial business issue for financial institutions. By streamlining and linking their business processes financial institutions can drastically increase their operational efficiency and improve customer satisfaction. We are delighted to have signed this agreement with Lombard and look forward to working with them to strengthen their product offering.”