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Herford, 11 December 2007
Cooperation between b-next and T-Systems in Austria and CEE
More and more banks are coming to understand that MiFID is becoming an important instrument as the competition for customers becomes tougher. Without high-performance applications, this is a race which cannot even be finished, let alone won.
b-next has been leading the market for regulatory compliance software in Germany for a long time. With its comprehensive solution for MiFID in the areas of best execution and conflicts of interest (COI), the company is going beyond the regulatory sphere to serve the banking industry for the first time in the so-called "mission critical" areas.
The new applications are based on MACOC:Suite, the flagship software platform from b-next, with its proven performance and reliability in the areas of insider trading compliance, market manipulation surveillance, and market conformity checking.
MACOC:Suite is already used by more than 100 financial institutions. It is highly flexible in configuration, adaptable to the specific business processes and group structures of customers, multi-language capable, multi-client capable, and highly scalable.
T-Systems is one of the leading providers of information and communications technology in Austria. Its sound knowledge of the Austrian market and of banking enable the company to guide financial institutions through the entire IT value creation chain and to rapidly introduce complex systems.
Dr. Thomas Szerencsics, Head of Financial Services Consulting for T-Systems in Austria, focuses on the central issue: "In the intensified competition among banks, a transparent implementation of MiFID will bring decisive competitive advantage."
The goal of the cooperation between b-next and T-Systems is the rapid and efficient introduction of the MACOC:MiFID application into the Austrian market as well as in Central and Eastern Europe.
