First Independent Global Benchmark for EAI and Web Services Applications Launched

CityCompass and EAI Industry Consortium partner to highlight smarter use of integration technology for financial services profits

London, UK 23 July 2003 - The EAI Industry Consortium and City Compass are to pool their resources to produce a vendor-independent report, to be previewed at an event on December 2 2003, which will be the world's first benchmarking of EAI and web services vendors in the financial services sector. This follows City Compass's successful Corporate Actions vendor benchmarking in June this year.

Ahead of this, a series of three breakfast seminars (September 9, September 30 and October 28), will explore the business issues and technology implications of continuing institutional consolidation in Europe. Chaired by Steve Craggs of the EAI Industry Consortium with two user speakers, these will help participants to analyse how business managers should be planning their IT investment ahead of the next financial services growth curve. The seminars will be sponsored by Tibco Software.

The benchmarking report will measure business usage among large and small volume users in the securities, retail banking and insurance sectors. A questionnaire is now being circulated to relevant vendors to provide basic data for the benchmarking panel. The introductory results session in December will be held in the City of London, with events in the USA and Asia to follow.

Gary Wright a Director of CityCompass and founder of the benchmarking event said "It is important that financial services companies assess how they are geared for growth. While this may seem premature now, the next growth cycle will catch many unawares. EAI and web services are a compelling way forward but buyers need the right information on which to base their decisions in a newly centralised world where regulation is keener than ever."

Steve Craggs, European Chair of the EAI Industry Consortium said "The EAI and Web services market is exploding globally and offering financial services users with untold business benefits that need to be implemented now to take advantage of the imminent market recovery. Benchmarking the vendors will assist the buyers to make the best choice of applications and enable the vendors to showcase the range of the systems available to oil increased efficiencies and reduction in costs but more importantly prepare for growth"