A SWISS bank has developed computer software that is changing the face of commercial and private banking.
The idea for T/O/P*BANKING software came in the early 1990s when the private bank, IHAG Zurich (Industrie and Handelsbank), sought to improve banking methods to remain competitive.
With consumers demanding more banking services coupled with pressure to reduce operational costs, the bank decided to develop its own software.
The formation of a subsidiary company, IHAG Informatik, gave it a mandate to develop a system that would be suitable for its banking business.
It also had to operate with a relational database, support client-server architecture and run under the Unix operating system.
In addition, it had to provide up-to-the-minute account information for customers and the bank.
The latest principles of manufacturing were applied to banking transactions and the T/O/P*BANKING software was developed.