SlaterLabs™ to Build Next-Generation Core Banking System Entirely on Windows Platform and Microsoft .NET
The Etude™ Programme to deliver an agile and flexible option to retail banks.
LONDON — 1 June 2006 —
SlaterLabs™ Inc and Microsoft Corp today announced that SlaterLabs™
will use Microsoft® technologies to develop and deliver the first
end-to-end core banking system built entirely using the Microsoft
Windows® platform and Microsoft .NET. To be known as The Etude™
Programme (Etude™), the Microsoft-based core banking system will
enable retail banks to replace their existing legacy or bespoke core
banking platforms with a reliable and flexible system that has
enhanced business functionality and can be swapped out module by
module. Etude™ will also be able to be implemented with minimal risk
and at significantly lower total cost of ownership.
“Most European banks are using core banking systems designed in the
1980s. These systems could not anticipate changes such as the
internet, 24/7 banking, and cross-border mergers,” said Robert Hunt,
research director in the Retail Banking Practice at TowerGroup. “To
effectively compete in this new environment, banks will need to
replace their core systems. Further, it makes little sense for these
banks to develop a new core system in-house when vendors are able to
deliver functionally rich and flexible real-time systems that
operate on low-cost, scalable platforms.”
Etude™ will provide full retail banking coverage including market-,
country- and industry-specific regulatory compliance. Other key
benefits include easy integration with legacy and bespoke
applications through Service Oriented Architecture (SOA) and
real-time, multi-channel availability. Etude™ will also offer
multi-currency, multi-language, multi-entry and multi-zone
capabilities, providing support for organisations operating across
different business units, as well as different geographical,
industry and time zones.
Commenting on the need for The Etude™ Programme, John Slater,
chairman and CEO of SlaterLabs™, said, “Companies in the banking
industry traditionally face a high level of risk when they decide to
upgrade or move core banking systems. That is why we are planning to
build Etude™ from the ground up with charter customers, minimising
risk as we directly address key industry issues every step of the
way. Charter customers will be able to save on initial system fees
while also having a say in which components are built when. We will
start with core banking and will then address charter customers’
needs as we progress through the build.”
Under the terms of the agreement, Microsoft will provide the
technology platform for Etude™, including the operating system,
development tools and database. SlaterLabs™ intends to leverage the
Microsoft .NET Framework, SQL Server™, Visual Studio® .NET, Windows
Server™, BizTalk® Server and other key Microsoft products and
technologies.
Both companies intend to provide a platform on which customers can
take advantage of real-time processing via a cost-effective,
scalable and reliable programme. The two companies have also agreed
to jointly market and provide sales support to The Etude™ Programme.
Through its collaborative effort with Microsoft, SlaterLabs™ aims to
deliver a significantly different offering to the retail banking
sector which is currently faced with the build versus buy dilemma.
The Etude™ Programme will let a customer’s in-house staff lead the
integration and implementation phases, with SlaterLabs™’ development
team effectively becoming the customer’s own support system,
providing consultancy, installation support and expertise to provide
customers with the best of both the buy and build worlds.
“Microsoft is very pleased to be working with a company that has the
pedigree of SlaterLabs™,” said David J Vander, worldwide managing
director of banking at Microsoft and executive sponsor of the
SlaterLabs™ partnership. “Together we see the potential to transform
the banking landscape around a next-generation application
architecture, based on the world-class Microsoft platform. Our early
involvement with SlaterLabs™ will also ensure that the best thinking
is applied at all stages of development and we will work with
customers to ensure an implementation that minimises the risk
traditionally associated with replacing or migrating core banking
systems. The Etude™ Programme will provide a core banking system
that delivers high levels of business agility and flexibility, low
total cost of ownership and will be easy to connect and integrate.”
The Etude™ Programme will initially be offered to European
customers, with the potential to be offered globally in the future.
Charter customers that sign on early with the programme will also
save on system fees and be able to provide recommendations on which
aspects of the system will be built first. Core banking will be the
first component to be developed with go live expected in early 2007.
About Microsoft in Financial Services
Microsoft’s Financial Services group helps financial firms
leverage technology to amplify the impact their people can deliver
to drive business success. We help our customers in banking, capital
markets/securities, and insurance achieve four business outcomes:
develop relationships, drive innovation, improve operations, and
build connections. To do this, we focus our products and
technologies, and our work with leading solutions, services and
hardware partners, on key areas where we believe we and our partners
can deliver exceptional value – today, those areas include advisor
platforms, channel renewal, enterprise risk management and
compliance, insurance value chain, and payments. For more
information, visit
http://www.microsoft.com/financialservices.
About Microsoft
Founded in 1975, Microsoft (Nasdaq “MSFT”) is the worldwide leader
in software, services and solutions that help people and
businesses realise their full potential.
About SlaterLabs™
The SlaterLabs™ team combines over 500 man years of core banking
business and technical experience. The company is 100% dedicated to
developing and delivering Etude™ on Microsoft’s .Net Framework. For
more information about SlaterLabs™, visit
www.slaterlabs.com.
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Microsoft, Windows, Visual Studio, Windows Server and BizTalk are
either registered trademarks or trademarks of Microsoft Corp. in the
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The names of actual companies and products mentioned herein may be
the trademarks of their respective owners.
For more information, press only:
Clare Anderson, Write Image
Phone: +44 20 7959 5544
E-mail:
clare.anderson@write-image.co.uk
Zoë Grayston, Write Image
Phone: +44 20 7959 5400
E-mail:
zoe.grayston@write-image.co.uk
Richard Fraser, SlaterLabs™
Senior Vice President, Marketing and Sales
Phone: +44 7919 398 605
Email:
rfraser@slaterlabs.com
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