London, 14 April 2004 – CSK Software AG is launching standardised process solutions for financial services providers. In its "Financial Apps", CSK has pre-defined the organisation and workflow of typical financial business processes.
To control and automate the processes, Financial Apps use existing applications and systems, connect them and ensure that individual steps are accurately carried out. To date, e-banking specialist CSK has five such solutions in its portfolio – including, for example, electronic securities trading and liquidity management. In each case they derive from client projects which are already up and running, so they have already completed their ‘learning curve’.
Using Financial Apps allows financial services providers to eliminate media breaks, reduce transaction costs, minimise error rates and speed up processes. Yet because Financial Apps have been pre-configured, these results are achieved more than twice as rapidly as in any individual project.
Between 50 and 80 percent of mapped processes are identical in virtually every financial institution and can be introduced without change. Any adjustments that may prove necessary are defined, tested and implemented via a graphic user interface, so no programming is required.
As a result, Financial Apps are especially suited to projects where the goal is quick time-to-market and a prompt return on investment. However, they are also useful as a first step towards strategic Business Process Management. With Financial Apps, there is no need for clients to waste time mapping standard workflows; instead, they can concentrate on individually modelling those business processes which best distinguish the company from its competitors.
The technological basis for this new marketing drive is CSK's "Financial Business Process Framework". This includes a workflow editor and workflow engine, data flow control and mapping engine, a large number of adapters as well as components for order routing and real-time market data distribution.
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