Paris, 15th September 2005 - Vermeg, today announced it has achieved the "industry optimized" level in IBM's PartnerWorld Industry Network for Financial Markets. Vermeg can now take advantage of IBM's sales, marketing and technical expertise to develop and deliver solutions that meet customer requirements in the Financial Market industry.
Customers are seeking solutions that can help them better integrate processes and applications and allow them to respond rapidly to changing market opportunities – all key elements in transforming to an On Demand business.
Since its inception in 1994, VERMEG has developed a winning combination of business expertise and technological innovation. The Vermeg product suite encompasses all the business components of the middle / back office of securities processing / portfolio management, available across a single multi-services platform based on Vermeg's J2EE-based financial framework "Palmyra".
"Palmyra" is a robust financial framework, offering a comprehensive range of services and allowing the development of financial solutions easily and quickly. It has been successfully tested on IBM eServer pSeries AIX V5.2 with excellent scalability and also with WebSphere Application Server V5 and DB2 Universal Database V8.
In addition, at the beginning of 2005, "Palmyra" was ported to the IBM eServer zSeries, using WebSphere Application Server and DB2 Universal Database Software.
"We are pleased that Vermeg has joined PartnerWorld Industry Networks, and are committed to IBM as a partner of choice," said Gabriel Tal, director of ISV & Developer Relations, IBM Europe, Middle East, Africa. "Vermeg delivers powerful solutions dedicated to the financial markets and we are looking forward to working together to best serve our business customers"
"The PartnerWorld Industry Networks initiative offers Vermeg excellent opportunities to partner with IBM in jointly satisfying the needs of the financial sector by combining Vermeg's open, J2EE-based solutions with the broad portfolio of hardware and software options provided by IBM. To be an industry optimized ISV in IBM’s PartnerWorld Industry Networks will help Vermeg's solutions gain even wider market acceptance, particularly with major, global players in the demanding securities processing industry" said Badreddine Ouali, Founder & CEO of Vermeg.
The IBM PartnerWorld Industry Networks provide ISVs with comprehensive business insight, technical resources, networking opportunities, and marketing and sales support designed to help them reach more customers and close deals faster. Participants in the PartnerWorld Industry Networks can team with IBM to bring on demand solutions to market more easily and to ensure these solutions meet specific industry needs, reflecting how customers buy technology today.