Business Times

WSO2 technology helps top Ukraine bank

Colombo-based WSO2, which says it’s a globally recognized innovator and visionary in middleware technology, recently assisted one of Ukraine’s ‘most trustworthy banks’, Alfa-Bank to adapt to the ever-changing global market rapidly and cost effectively.

“Adapting to change is a crucial requirement in order to survive and thrive in today’s highly competitive market, but rigid and bulky IT infrastructures often hinder development, resulting in higher costs and a lengthier adoption process,” it said in a statement.

Alfa-Bank smoothly integrated its new addition; the technically superior Temenos T24 core banking system with its existing IT infrastructure with the support of WSO2 technology. Integration was significantly faster and remarkably cost-effective since the WSO2 product stack is 100% open source and offers easy configuration through simple user interfaces. A new case study published by the company highlights some of the challenges faced and how they were overcome.

Competing against global software giants like IBM, Oracle and Tibco, the Sri Lankan company has an impressive portfolio of clientele in the banking industry, including Deutsche Bank, MIG Bank, Chapdelaine and the Federal Home Loan Bank of San Francisco all of who faced a common challenge of sustainability in this era of continuous change.

Ken Torres, senior vice president of IT at Chapdelaine highlighted a key advantage he found and said,“WSO2 provides a framework that puts all the pieces together we need as a customer to quickly develop our SOA and bring it to market. Any other solution would have taken considerably longer.”

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