Oracle Lietuva and Forbis presented technologies, which save time and money

19 May 2009

The Oracle Lietuva Company and its long-term partner the Forbis Company have organised a business breakfast, which took place in the Crowne Plaza Vilnius conference hall, in order to discuss novelties offered to the market of banking information technologies.

Representatives, responsible for the development of bank information technologies infrastructure, of the majority of Lithuanian commercial banks, as well as representatives of Oracle Lietuva and Forbis, participated in the event.

During the business breakfast there were discussed functionality and products of the banking information system FORPOST release 4.5.0, technological solutions, requirements, which must be implemented in order to follow the way of innovations, possible risks and responsibility, the role and use of novelties to the banking business. The specialists also shared insights on the development of future technologies.

“In these hard times for economy, reduction of expenses becomes of significant importance. One of the means to reduce costs is modernisation of a company. That is why currently it is very important to choose technologies, enabling to reduce expenses, and to service internal and external users by applying innovative methods. Each day users expectations do grow; users become even more demanding, require special products or unique solutions. Such modern technological trends as service-oriented architecture and grid computing provide a possibility not only to efficiently use the already available resources, but also to offer new services, new products, and maybe even a new business models. Modern technologies would allow to newly view the business and to successfully meet the challenges of today’s market”, stated the head of the Lithuanian branch of the Oracle Corporation, Kristijonas Kaikaris.

When presenting FORPOST release 4.5.0, greater attention was paid to Oracle Cost based Optimizer (CBO), Java moving from the main OLTP server, as well as Oracle forms and reports 10g R2, i.e. implementation of the three-level architecture.

A. Zujev, CEO of the Forbis Company was glad to see so many participants, which witnesses the importance and relevance of the discussed issues. “One of the most important company’s aims is to be a company of modern technologies, to keep up with the challenging times, and to encourage innovations”, said the head of the company. He also draw attention to the alterations in some legal acts and the requirements applied to the banks by supervisor institutions, which should be regarded and evolve definite changes in the infrastructure of banks’ information technologies. “FORPOST 4.5.0 release is ready for the use of advanced Oracle technologies, which, as it was grounded by figures, will significantly reduce banks expenses, save time, quicken operation processes, and considerably improve the system’s security at all levels”, stated A. Zujev.

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