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SCMP Reporter

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.

  The managing director of Informatik Consulting (Asia Pacific), Nick Rowland, said that with T/O/P*BANKING software, private banks could reduce expenses and gain competitive advantages. It was the first universal banking system in the Asia-Pacific region to use the next generation Unix 'open' platform.

  'In layman's terms, this is like launching the compact disc after consumers had only had LPs for a generation,' he said.

  'Until now, private banks have usually had to suffer with the limitations of PCs or PC LANS (local area network systems).

  'These suffer from poor security, difficult and costly amendments or enhancements and limited ways of gaining meaningful management information from the private bank's data.

  'Since Unix may run on hardware from all the leading manufacturers, they are forced to keep their prices lower while customers have a [greater] purchasing choice.'   Currently in use by eight Swiss private banks, the software made its Asian debut in September at the 'Technology in Banking and Finance '95' conference in Singapore.

  Response to the product was positive. 'Those who attended wanted software that was quick and easy to adapt to their evolving requirements,' Mr Rowland said.

  'The software must be secure, simple and economical to run and maintain.'   The T/O/P*BANKING software system provides an integrated foundation for a bank's data.

  'The system's powerful Oracle relational database provides an integrated and flexible view of the bank's positions, exposures and performance in practically any format, from any angle and from anywhere in the bank's branch network.' 



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