Association of Lithuanian Banks and the Forbis Company to Create New Standard

Vilnius - October 2006

The Association of Lithuanian Banks (ALB) has established a working group for the analysis of goals and premises for standardising and modernising the technical specification of the messages of electronic banking services.

While taking into consideration the arisen need of uniting business processes of the parties, which provide and use financial services, there was made a unified decision to prepare “The Standard of Electronic Banking Infrastructure” (SEBI). The standard is designed for financial institutions as well as their partners and customers. SEBI will define the adoption of world-wide used standards of information technologies, while automating electronic services provided in the financial sphere, and it will give the customers an opportunity of automating the tasks, for the solutions for which it is required to co-operate with various financial service providers. It is extremely important to take into consideration the requirements of the European Commission and the Central European Bank in this sphere. For preparation of standards there was organised an SEBI working group and the Forbis Company was selected as the contractor, which won the tender, and fully corresponds to the selection criterion.

While agreeing and applying the SEBI requirements to the market of Lithuania, the following procedures were conducted:

• The internal evaluation of various standards, based on the opinions of the experts of the working group and the Forbis Company, as of an external consultant, was performed.
• Together with the Forbis Company there was successfully performed the evaluative demonstration for evaluating the compatibility of the recommended platform with the concept of interactive interfaces and the Web Services standards.
• The survey of customers, oriented to the infrastructure needs of the electronic banking services, was performed. Thirty-nine corporations, operating in various fields, as well as one payment integrator, were surveyed.
By the end of the year 2006 the first revision of standards is to be prepared.

The Forbis Company has a lot of experience in international integration projects and strives to apply the newest technologies. The main advantage of the company is its focus on banking technologies. The main criterion, which the Forbis Company corresponded to while preparing the standard, are: experience in the sphere of banking information systems, electronic banking, and system integration with the XML technologies; potential of performing the work according to the set requirements and terms; co-operation with the Association of Lithuanian Banks (ALB) on the further stages of the Standard of Electronic Banking Infrastructure development. The banking solutions of the Forbis Company are acknowledged and already widely used in the three countries: Lithuania, Latvia, and Russia.

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