Syarikat Takaful outsources IT infrastructure ops to HP

12 February 2009 Business Times

SYARIKAT Takaful Malaysia Bhd (STMB) has outsourced its information-technology (IT) infrastructure operations management services to Hewlett-Packard (HP) in a RM12 million deal. The move is part of STMB's strategy to be the country's leading takaful operator, said group managing director Datuk Hassan Kamil.

Under the three-year contract, STMB aims to enhance service deliveries and ensure faster product launches.

It will also help the company focus on its core competency of delivering insurance services.
Both companies sealed the agreement in Kuala Lumpur yesterday. Also present was STMB's chairman Tan Sri Hadenan Jalil and HP's managing director TF Chong.

HP was among three companies that participated in a tender for the project.

Using HP's expertise, Hassan said, will enable STMB to align its IT cost with actual usage, enhance service levels to its business and improve utilisation of computing resources.
Meanwhile, Hassan said STMB is on track to meet its gross premium target for the year ending June 2009 despite the sluggish economy.

http://global.factiva.com/ga/default.aspx

Insite targets two more banks

Thursday August 28, 2008

KUALA LUMPUR: Insite MY Systems Sdn Bhd, a local MSC software vendor, is targeting two more banks to implement its cheque clearing solution, INCHEQS, by year-end.

Sales and marketing director Malik Hashim said it was in talks with two banks on the issue.
He was speaking after the cheque truncation and conversion system (CTCS) phase I sign-off and system handover ceremony with Kuwait Finance House (M) Bhd (KFHM) yesterday.

“INCHEQS was successfully implemented over a 10-month period and has enhanced KFHM’s total inward and outward cheque clearing process.

“Inward clearing is performed on KFHM’s own cheques while outward clearing is carried out on other banks’ cheques deposited at KFHM branches,” he said.

Essentially, the implementation of INCHEQS would facilitate a more efficient and faster cheque clearing process specified under the CTCS exercise by Bank Negara.

“The product will support new e-payment instruments that will be introduced soon,” Malik said.
He said the company had so far implemented its INCHEQS software for nine banks.

The CTCS exercise for Klang Valley was launched on June 13.

“KFHM was one of the few banks to record 100% success in all eight industry tests with Bank Negara. We were able to go live immediately with Bank Negara’s CTCS system called eSPICK,” he said.

http://biz.thestar.com.my/news/story.asp?file=/2008/8/28/business/1899774&sec=business

Gartner Highlights Key Predictions for IT Organisations and Users in 2008 and Beyond

Egham, UK, January 31, 2008 — Gartner, Inc. has highlighted 10 key predictions of events and developments that will affect IT and business in 2008 and beyond.

The predictions highlight areas where executives and IT professionals need to take action in 2008. The full impact of these trends may not appear this year, but executives need to act now so that they can exploit the trends for their competitive advantage.

"Selected from across our research areas as the most compelling and critical predictions, the trends and topics they address this year indicate a strong focus on individuals, the environment, and alternative ways of buying and selling IT services and technologies," said Daryl Plummer, managing vice president and Gartner Fellow. "These areas of focus imply a significant groundswell of change that may in turn change the entire industry."

These predictions are selected from more than 100 predictions that Gartner presents and reviews every year. These predictions focus on general technology areas rather than on specific industries or roles. This year's predictions include:

By 2011, Apple will double its U.S. and Western Europe unit market share in Computers. Apple's gains in computer market share reflect as much on the failures of the rest of the industry as on Apple's success. Apple is challenging its competitors with software integration that provides ease of use and flexibility; continuous and more frequent innovation in hardware and software; and an ecosystem that focuses on interoperability across multiple devices (such as iPod and iMac cross-selling).

By 2012, 50 per cent of traveling workers will leave their notebooks at home in favour of other devices. Even though notebooks continue to shrink in size and weight, traveling workers lament the weight and inconvenience of carrying them on their trips. Vendors are developing solutions to address these concerns: new classes of Internet-centric pocketable devices at the sub-$400 level; and server and Web-based applications that can be accessed from anywhere. There is also a new class of applications: portable personality that encapsulates a user's preferred work environment, enabling the user to recreate that environment across multiple locations or systems.

By 2012, 80 per cent of all commercial software will include elements of open-source technology. Many open-source technologies are mature, stable and well supported. They provide significant opportunities for vendors and users to lower their total cost of ownership and increase returns on investment. Ignoring this will put companies at a serious competitive disadvantage. Embedded open source strategies will become the minimal level of investment that most large software vendors will find necessary to maintain competitive advantages during the next five years.

By 2012, at least one-third of business application software spending will be as service subscription instead of as product license. With software as service (SaaS), the user organisation pays for software services in proportion to use. This is fundamentally different from the fixed-price perpetual license of the traditional on-premises technology. Endorsed and promoted by all leading business applications vendors (Oracle, SAP, Microsoft) and many Web technology leaders (Google, Amazon), the SaaS model of deployment and distribution of software services will enjoy steady growth in mainstream use during the next five years.

By 2011, early technology adopters will forgo capital expenditures and instead purchase 40 per cent of their IT infrastructure as a service. Increased high-speed bandwidth makes it practical to locate infrastructure at other sites and still receive the same response times. Enterprises believe that as service oriented architecture (SOA) becomes common "cloud computing" will take off, thus untying applications from specific infrastructure. This trend to accepting commodity infrastructure could end the traditional "lock-in" with a single supplier and lower the costs of switching suppliers. It means that IT buyers should strengthen their purchasing and sourcing departments to evaluate offerings. They will have to develop and use new criteria for evaluation and selection and phase out traditional criteria.

By 2009, more than one third of IT organizations will have one or more environmental criteria in their top six buying criteria for IT-related goods. Initially, the motivation will come from the wish to contain costs. Enterprise data centres are struggling to keep pace with the increasing power requirements of their infrastructures. And there is substantial potential to improve the environmental footprint, throughout the life cycle, of all IT products and services without any significant trade-offs in price or performance. In future, IT organisations will shift their focus from the power efficiency of products to asking service providers about their measures to improve energy efficiency.

By 2010, 75 per cent of organisations will use full life cycle energy and CO2 footprint as mandatory PC hardware buying criteria. Most technology providers have little or no knowledge of the full life cycle energy and CO2 footprint of their products. Some technology providers have started the process of life cycle assessments, or at least were asking key suppliers about carbon and energy use in 2007 and will continue in 2008. Most others using such information to differentiate their products will start in 2009 and by 2010 enterprises will be able to start using the information as a basis for purchasing decisions. Most others will stat some level of more detailed life cycle assessment in 2008.

By 2011, suppliers to large global enterprises will need to prove their green credentials via an audited process to retain preferred supplier status. Those organizations with strong brands are helping to forge the first wave of green sourcing policies and initiatives. These policies go well beyond minimizing direct carbon emissions or requiring suppliers to comply with local environmental regulations. For example, Timberland has launched a "Green Index" environmental rating for its shoes and boots. Home Depot is working on evaluation and audit criteria for assessing supplier submissions for its new EcoOptions product line.

By 2010, end-user preferences will decide as much as half of all software, hardware and services acquisitions made by IT. The rise of the Internet and the ubiquity of the browser interface have made computing approachable and individuals are now making decisions about technology for personal and business use. Because of this, IT organizations are addressing user concerns through planning for a global class of computing that incorporates user decisions in risk analysis and innovation of business strategy.

Through 2011, the number of 3-D printers in homes and businesses will grow 100-fold over 2006 levels. The technology lets users send a file of a 3-D design to a printer-like device that will carve the design out of a block of resin. A manufacturer can make scale models of new product designs without the expense of model makers. Or consumers can have models of the avatars they use online. Ultimately, manufacturers can consider making some components on demand without having an inventory of replacement parts. Printers priced less than $10,000 have been announced for 2008, opening up the personal and hobbyist markets.

http://gartner.com/it/page.jsp?id=593207

Microsoft Adds Support for FileAct and InterAct to BizTalk Accelerator for SWIFT (Oct. 11, 2006)

New BizTalk adapters extend connections to SWIFTNet, helping enable STP and lower operational costs.

SYDNEY, Australia — Oct. 11, 2006 — Microsoft Corp. announced today at Sibos 2006 that it now supports the full complement of SWIFT messaging services, adding adapters for SWIFTNet FileAct and InterAct to Microsoft® BizTalk® Accelerator for SWIFT. In addition, the solution has been granted a SWIFTReady Gold Financial EAI (enterprise application integration) label for the third year running.
Using BizTalk Accelerator for SWIFT’s new support for FileAct and InterAct can help financial firms achieve substantial cost savings when exchanging bulk payment files. The new BizTalk adapters facilitate the real-time exchange of financial information across SWIFTNet and enable externally supplied applications to fully utilize the features of InterAct and FileAct.
“SWIFT’s relationship with Microsoft is an important strategic alliance,” said Johan Kestens, head of marketing at SWIFT. “The solutions Microsoft and its partners are developing for SWIFTNet demonstrate real benefits for our customers as they simplify support for SWIFT messaging services.”
“When using SWIFTNet messaging services such as FileAct and InterAct, customers have indicated a clear need for technology that improves connectivity to SWIFT to help enable substantial cost savings,” said Robert Wahbe, corporate vice president, Connected Systems Division at Microsoft. “Microsoft has extended BizTalk Accelerator for SWIFT with FileAct and InterAct adapters as it provides customers with a platform through which to connect SWIFT and existing line-of-business applications, and achieve these goals.”
“The industry is calling for greater automation, more standardized business process flows in the payments area, and the continuation of the drive toward a single market,” said David Vander, worldwide managing director of Banking at Microsoft. “Microsoft and its partners are working to provide solutions for the industry that are efficient and cost-effective and enable employees to help their companies seize market opportunities, make smart decisions and realize maximum value from technology investments.”
The added Microsoft BizTalk adapters for SWIFTNet InterAct and FileAct provide connectivity between Microsoft BizTalk Server 2006 and the SWIFT Secure IP Network (SIPN) via the SWIFTNet link APIs. SIPN enables SWIFT customers to transfer messages and files using InterAct and FileAct respectively, over a security-enhanced, private network, and facilitates bilateral communication between financial institutions, industry infrastructures and customers.
BizTalk Accelerator for SWIFT enables customers to simplify their infrastructure and connect to SWIFT across one integrated messaging platform, helping deliver rapid return on investment by reducing the complexity of bilateral communications between institutions. It also provides customers with enhanced messaging capabilities, delivers specific formats and provides schemas for financial messaging standards and middleware integration tools.
At Sibos 2006, Microsoft is demonstrating how it enables partners to build sophisticated applications using SWIFTNet services, solutions and standards. The following are among the partners exhibiting with Microsoft at Sibos:
• Avanade, demonstrating SWIFTNet Cash Reporting
• Message Automation Ltd., demonstrating the potential for leveraging Financial products Markup Language (FpML) connectivity over SWIFTNet
• SAGA Services Ltd., demonstrating support for low-value payments
• TEMENOS, demonstrating connectivity of TEMENOS T24, its modular core banking solution to SWIFT
• Unisys, demonstrating support for SWIFTNet Bulk Payments
• WealthCraft Systems Ltd., demonstrating its solution for SWIFTNet Funds

http://www.microsoft.com/presspass/press/2006/oct06/10-10MSSWIFTPR.mspx

Syarikat Takaful counts on new system (November 20, 2007)

By DALJIT DHESI
KUALA LUMPUR: Syarikat Takaful Malaysia Bhd (STMB) is upbeat on turning in higher earnings and revenue for the fiscal year ending June 30 (FY08), thanks to its new operating system.

Group managing director Datuk Hassan Kamil said the company anticipated net profit and revenue to surge by 20% and 25% respectively for FY08.

He added that the new system would help boost revenue and enable it to manage the group's capital structure more efficiently. It will also hasten the development and the launching of new products.

For FY07, STMB's group net profit stood at RM24.8mil on RM1.1bil in revenue against net profit of RM36.5mil and revenue of RM969.1mil in FY06.

Hassan said at company level, STMB posted a lower net profit of RM15.8mil for FY07 compared with RM28mil previously.

The lower profit was mainly due to the less profitable general takaful fund and higher management and operating expenses, he said.

According to Hassan, general takaful is less profitable due to an increase in claims, in particular, for motor and fire classes.

STMB, he said was currently reviewing these classes of Islamic insurance in a bid to improve its claims ratio.

Another reason for the lower general takaful profits was the increase in additional operating expenses relating to bad and doubtful debts.

The increase in management and operations expenses was because of the accelerated depreciation on its main operating system, which was due for replacement.

On the family (life) takaful business, Hassan said it had performed quite well compared with the previous year, posting a higher surplus transfer to the shareholders’ funds of RM121mil from RM71mil previously.

http://thestar.com.my/news/story.asp?file=/2007/11/20/business/19487438&sec=business

AmBank to upgrade from Temenos Globus to Temenos T24 (23rd October 2007)

By http://www.cbronline.com/article_news.asp?guid=7D329531-DA55-43F1-B681-9DC0FC327FBF

Temenos Group, a provider of integrated core banking systems, has announced that Malaysia-based AmBank is planning to upgrade from Temenos Globus to Temenos T24 to support its Kuala Lumpur operations.
Temenos will install the core T24 functionalities on HP Unix servers using JBase database software. Temenos will also carry out development work to cater for the bank's local requirements.
With Temenos T24, (T24) the bank will benefit from the technical foundation required to grow its treasury and corporate banking operations. The upgrade will enable the bank to reduce the time to market for its new Islamic treasury banking products.
T24 is a thin client, scalable, integrated, modular banking system. It is built on open system principles and uses established technology standards such as HTTP, XML and HTML. It will offer a single client view across the enterprise and can support large numbers of users with true non-stop resilience.
Teng Choy, director of group treasury at AmBank, said: "Temenos' technology has served us well over the last seven years. With the enlarged business, we need to ensure our systems continue to meet our growing and changing requirements. We're keen to extend our partnership with Temenos and have chosen to adopt T24, which will enable us to quickly introduce new products to the market, including our Shariah-compliant products offering."

http://www.cbronline.com/article_news.asp?guid=7D329531-DA55-43F1-B681-9DC0FC327FBF

TEMENOS T24™ to support SWIFTNet using Microsoft BizTalk Server and BizTalk Accelerator for SWIFT (9 October 2006)

Sydney, Australia:

At Sibos 2006, TEMENOS Group (SWX: TEMN), the provider of integrated core banking systems, today announced that TEMENOS T24, its modular core banking system, will support Microsoft® BizTalk® Server 2006, and Microsoft BizTalk Accelerator for SWIFT, enabling banks to directly access TEMENOS T24’s SWIFT capabilities. By leveraging BizTalk Server and BizTalk Accelerator for SWIFT’s rich support for SWIFTNet messaging services, TEMENOS T24 can provide a common integration platform for SWIFT customers and enable banks to maintain a cost-effective infrastructure through greater integration, reducing the total cost of ownership. This will be available with version R07 of TEMENOS T24 from April 2007.

BizTalk Accelerator for SWIFT extends BizTalk Server to provide comprehensive, reliable, and secure delivery of financial messaging using SWIFT standards, its secure messaging network. This minimises the need for extensive manual checking of data and allows staff to concentrate on tasks more directly, attributable to revenue growth. BizTalk Accelerator for SWIFT also makes it easier for customers using legacy systems to connect to SWIFTNet, increasing straight-through processing (STP) and enabling message generation, validation, repair and business activity monitoring. TEMENOS T24 supports both inbound and outbound SWIFT messages and can be linked directly with a SWIFT gateway if required or via BizTalk Accelerator for SWIFT using the TEMENOS T24 adapter. For SWIFT implementations using BizTalk Server, routing all messages from and to TEMENOS T24 via BizTalk Accelerator for SWIFT and the TEMENOS T24 adapter creates a common platform for managing all aspects of financial messaging. This enables TEMENOS T24 users to benefit from new SWIFTNet messaging services such as SWIFTNet FileAct and SWIFTNet InterAct, delivering major cost savings, improving business processes and increasing STP and the ability to react to changes in the market.

David Vander, worldwide managing director, banking, Microsoft, says: “This announcement demonstrates how together, TEMENOS and Microsoft are working to help customers get the most out of their core banking systems. It also demonstrates the commitment TEMEMOS has to extending its connection to SWIFT and providing SWIFT customers with a reliable and cost efficient platform on which to do business.”

This is the latest development in the partnership between TEMENOS and Microsoft, which the companies first formally announced in June 2005. In June 2006, TEMENOS announced that TEMENOS T24 would support Microsoft SQL Server™ 2005. Today, the system works with key Microsoft products running from the database back-end through to client front-end, providing customers with a greater choice of technologies for running their core banking systems.

TEMENOS T24 is a functionally rich, thin client, scalable, integrated, modular banking system. It is built on open service oriented architecture, and uses established technology standards such as HTTP, XML and HTML. It offers a single client view across the enterprise and can support large numbers of users with true non-stop resilience. Its fully-integrated architecture enables it to offer a significant cost advantage compared to other competing products. It offers multiple application server support and is the only system available with no end-of-day batch processing and so can genuinely boast of providing real-time 24/7 non-stop banking.

Mark Gunning, group strategy director, TEMENOS, adds: “Effective integration has always been a key feature of TEMENOS T24. With this latest development, clients can take full advantage of BizTalk Server’s capabilities in enterprise application integration, while benefiting from BizTalk Accelerator for SWIFT’s SWIFTReady Gold Financial EAI accreditation. By managing SWIFTNet services, standards and solutions through the same environment, customers can simplify their architecture and reduce total cost of ownership.”

The announcement is made on the first day of the annual SIBOS conference in Sydney which runs until 13 October 2006. The event, organised by SWIFT, brings together over 2,000 delegates, including the world’s top financial institutions, vendors, technology and solutions providers along with SWIFT and its business partners. TEMENOS is exhibiting at Microsoft’s stand L07.

According to the latest International Banking Systems sales league table, published in March 2006, TEMENOS has the largest core banking client base in the world with a stated 600 live sites. The company continues to attract global tier 1 and regional banks as a result of its superior products, TEMENOS T24, TEMENOS™ COREBANKING and TEMENOS T-Risk.

http://www.bobsguide.com/guide/news/2006/Oct/9/TEMENOS_T24%E2%84%A2_to_support_SWIFTNet_using_Microsoft_BizTalk_Server_and_BizTalk_Accelerator_for_SWIFT.html