FLEXTERA General Ledger validated on the IBM Banking Industry Framework

The IBM Banking Industry Framework is a global initiative of IBM aimed at raising efficiency and ROI of financial software solutions. The framework combines IBM software products with extenders, accelerators and the best global banking industry practices, allowing financial institutions to reduce the time, cost and risks of the implementation of such innovative solutions. These solutions are built in compliance with SOA principles and fully meet modern technological and industry standards. The solutions included into the IBM Banking Industry Framework are subject to the thorough multifaceted evaluation against IBM standards.

In the end of 2010 the suite of FLEXTERA Front Office products became the first financial solution in Eastern Europe, successfully validated on the IBM Banking Industry Framework. The successful validation of another FLEXTERA solution has once again proven the correctness of Diasoft’s product development strategy.

“It is a great achievement for Diasoft to have FLEXTERA General Ledger validated on the IBM Banking Industry Framework. It is a quality mark received from a global corporation, and we are proud of these results and are ready to move forward,” commented Anastasia Kalmykova, Director, FLEXTERA General Ledger and Settlements Department, Diasoft.

FLEXTERA General Ledger is a modern high performance and flexible system supporting consolidated bookkeeping and allowing for swift and efficient processing of financial information. A broad functional scope of FLEXTERA General Ledger fully meets modern market requirements and provides comprehensive tools for arranging consolidated, combined, and detailed bookkeeping in combination with unprecedented performance in posting and searching financial data.

The product is an SOA-based multi-layer JavaEE application built on a modern technological platform. It is compliant with all modern databases and can use both a browser-based thin client technology and a rich-client. Due to the focusing on business processes instead of separate operations the solution allows streamlining and facilitating daily operations of bank employees, significantly raising the overall operational performance of a company.

Diasoft and IBM have a long history of successful collaboration. The companies have been partnering on various complex projects for automation of banks and financial organizations for over 10 years. The first Diasoft solution certified by IBM was the front office system which was evaluated under the IBM Ready-For-SOA program in 2006 and achieved the SOA Connect level. In 2008 the new version of the Diasoft front-office system was valuated, the solution reached the SOA Exploit level. Today, the integrated retail front office solution developed by Diasoft is included into the global list of SOA-solutions — the IBM SOA Business Catalog. In 2010 FLEXTERA Front Office became the first financial solution in Eastern Europe which had been certified against the IBM Banking Industry Framework standards. In the beginning of 2011 FLEXTERA Front Office was also successfully validated under the IBM Ready-for-DB2 program. In September 2011 Diasoft and IBM concluded a Global Alliance Agreement on joint development and promotion of banking solutions. Diasoft plans to go on validating its solutions on the IBM Banking Industry Framework and will submit FLEXTERA Settlements as the next step of the process.