Microgen has announced that ING Bank NV, London Branch, the wholesale banking business, will implement Microgen Aptitude, a business process management tool, in its finance division.
The implementation of Microgen Aptitude is expected to deliver tangible business benefits within six months as it provides business users with the ability to define the business rules associated with accounting and reporting logic for complex financial investments via its graphical interface.
It also states that the many UK banks rely on Microgen to provide a robust and scalable environment that provides visibility into their reporting and auditing processes to allow them to meet regulatory demands.
Microgen claims that Microgen Aptitude is designed for to meet the challenges of a demanding market and it has been deployed to help mitigate the financial challenges associated with changing financial and regulatory requirements such as International Financial Reporting Standards (IFRS)
Elizabeth Sipiere, Managing Director Finance, Microgen, said: “Microgen has invested extensively in Microgen Aptitude and our accounting and reporting solutions for investment banks, enabling the move to principle based regulation by means of a financial rules engine that is designed for change. Microgen Aptitude also delivers the high volume transaction throughput and transaction integrity required in financial services today. Full audit trailing and transparency enables clear oversight of controls and processes required by current and emerging legislation.”
