London, UK 26 July 2004 CityCompass, the independent facilitator of contemporary market issues affecting the financial services sector, today announced that the City in Action benchmarking conference on the 8th September will be used to launch a new standards logo for systems that have been business benchmarked and have reached the required standard by an independent industry panel.
The Corporate Actions and Information Systems/Services providers that have been successful in meeting the required business standards, in the 2004 benchmarking process will be the first vendors awarded the independent industry Gold Logo.
For those who participate in future B.I.S.S. benchmarking events, including the forthcoming 7th December benchmarking of Integration and Web Services systems and whose systems meet the required business standards will also be awarded a Gold logo.
Gary Wright the Managing Director of CityCompass and creator of the benchmarking process said “Vendors in the financial services market have only really had the SWIFT Ready Gold accreditation to establish their systems capability! This is only one element for buyers investing in buying systems! Being capable of carrying SWIFT messages does not incorporate all of the important business functionality that is needed by the buyer to select the right system for them. The new B.I.S.S Gold standard is totally focussed on the capability of systems meeting the buyer’s business requirements, therefore establishing which vendors systems actually can perform to the buyer’s satisfaction. The vendors will now have a new and important target to meet and through the new B.I.S.S. Gold standard only a high quality product will be able to attain the necessary standard”.