The World's Top Banks Respond To Growing Competition By Modernizing Their Legacy Applications

London, United Kingdom (PressExposure) July 26, 2011 -- The world's top banks are recognizing the role of IT in supporting growth and innovation in an increasingly competitive market where customer demand is becoming ever more sophisticated. Every one of the top 10 global banks, including household names like Barclays, have turned to Micro Focus® (LSE.MCRO.L), the leading provider of enterprise application modernization, testing and management solutions, to help them modernize their business-critical applications. These organizations and a number of other leading banks around the world -- such as ABN-AMRO, Banco di Desio, DnB Nor, Lloyds Banking Group, RBS, Standard Bank and Standard Chartered Bank -- have adopted more flexible IT environments with a view to improve staff productivity, customer satisfaction and time to market for new services.

According to a recent report by Gartner , financial institution CIOs' top three strategic priorities are developing and maintaining a flexible infrastructure, delivering projects that enable business growth and reducing the cost of IT. Forty-four percent expect to move more than half their institutions' transactions to a cloud infrastructure by 2015 and thirty-seven percent expect to support more than half their institutions' transactions on software-as-a-service (SaaS) applications.

Dale Vecchio, Research VP at Gartner, comments: "IT modernization initiatives and, in particular application re-hosting, offer organizations the ability to fundamentally change the economics of running enterprise applications. The significant cost savings can then be reinvested in more strategic transformational projects that enable business growth or improved customer service."

Micro Focus offers a broad range of modernization and legacy migration strategies that help banks make the most of their existing IT investment in the enterprise applications that are at the heart of their business. Its application portfolio management and application analysis tools provide vital information to identify and maximize the value of applications. Micro Focus' solutions enable banks to migrate business-critical mainframe modernization across applications, development and testing to more modern and cost-effective platforms based on Windows, z/OS, Linux or Unix without sacrificing the business logic that makes these applications unique.

"The banking industry is entering an era of intense competition as customer expectations become ever more sophisticated. Whether you're a high street bank or an investment house, customers are demanding 24/7 access to data on a growing range of devices, which poses all kinds of availability and security challenges," said Stuart McGill, CTO of Micro Focus. "The business logic embedded in institutions' existing applications is often a key source of competitive advantage, meaning they need to find ways to get the most out of these existing IT assets at the same time as developing more agile applications that can drive business growth."

For more information on Micro Focus application modernization solutions, please visit http://www.microfocus.com/application-modernization.

About Micro Focus

Micro Focus, a member of the FTSE 250, provides innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization, Testing and Management software enables customers' business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. For additional information please visit http://www.microfocus.com


Press Release Source: http://PressExposure.com/PR/Micro_Focus.html

Press Release Submitted On: July 26, 2011 at 6:13 am
This article has been viewed 9585 time(s).