PALO ALTO, Calif., Feb. 14, 2006 â TIBCO Software Inc. (NASDAQ: TIBX), a leading business integration and process management software company that enables real-time business, today announced that BANORTE and Toyota Services of Mexico have both selected TIBCOâs Business Process Management (BPM) platform â the TIBCO Staffware Process Suiteâ¢ â as the standard throughout their respective organizations to facilitate better communication and collaboration across systems, improve access to relevant information, and real-time monitoring of business processes.
âBANORTEâs top priority is growing our business and serving customers, not our information technology infrastructure,â said Prudencio Frigolet G., CIO, BANORTE. âTIBCOâs independent BPM platform offered BANORTE the greatest amount of choice and flexibility to easily integrate with any particular part of our technology stack. The platformâs complete set of functionality has helped optimize our processes, providing us with greater visibility and agility to aggressively react in a timely manner to customer demands and changing market dynamics.â
Currently the third largest bank in Mexico, BANORTE has differentiated itself from other financial institutions in the country by delivering outstanding customer service. For example, Banorte delivers the fastest approval of automobile loans in the market. Using TIBCOâs BPM platform, BANORTE is able to process and approve applications for car financing in 30 minutes or less. The automatic process has virtually eliminated manual transactions and made it a paperless process â resulting in not only greater overall efficiency, but also significantly reduced operational costs.
âHandling the entire loan process through TIBCOâs BPM platform allows us to quickly turn around approvals without cutting any corners on the back-end credit analysis,â said Ramon Luna, operations and IT director, Toyota Services of Mexico. âTIBCOâs software is allowing us to more easily meet the needs of our customers, helping us to achieve our goal of becoming the preferred automotive lender in Mexico.â
Toyota Services of Mexico (TSM), a division of Toyota Financial Services, offers an extensive line of financing and insurance products to Toyota customers and dealers in Mexico. In operation only three years, TSMâs objective is to capture at least ten percent of the projected 18 million cars sold in Mexico by 2007. To accomplish this, TSM implemented TIBCOâs BPM platform to integrate existing software applications, automate the manual loan process, and improve business decision making through the use of a rules engine. In addition, TIBCOâs BPM platform has the ability to extend the loan process servicing and notifications directly to TSMâs 33 dealers throughout Mexico via a new portal. This dramatically reduces the cost and time associated with the credit retrieval and scoring process.
âIncreasingly, banks and other financial institutions are choosing TIBCO to help them compete more effectively and build more flexible solutions that can grow with their businesses for years to come,â said Ram Menon, senior vice president, Worldwide Marketing at TIBCO. âTo survive and thrive in todayâs market, financial services organizations must be able to easily cut through the clutter of information. By optimizing processes, TIBCO Staffware Process Suite helps IT staff and line managers make some of the easiest decisions faster, so they can spend more time thinking through the hard ones.â
TIBCO has been providing the financial services industry with sophisticated, robust solutions for more than 15 years and today provides the business process infrastructure for many of the worldâs top financial institutions. The company offers an array of products to help financial services organizations accelerate customer response time, create operational efficiencies, optimize growth opportunities, and make smarter business decisions.