2008-10-29 00:27:03 -
www.itgl.net/ - Company contacts: Infinite Technology Group James McGowan, 516-349-5824 mcgowan@itgl.net or Hibernia Consulting Michael McGrath, (01483) 750 777 michael@hibernia-consulting.com or Press contact: Graber Associates LLC Ray Graber, 781-221-0018 ray@graberassociates.net Infinite Technology Group, Inc. (ITGI) and Hibernia Consulting Ltd. today announced a strategic partnership to make Information Asset Manager (IAM) v2.0 available to banks engaged in mergers or acquisitions in
Europe. IAM, already available in the Americas, is a powerful suite of tools and services that employs automated processes to reduce time, cost, and risk when combining business and information technology activities.
"The turmoil in global financial markets has driven a wave of consolidation in the financial services industry and heightened the need for practical methodologies, advanced artificial intelligence tools, and experienced guidance," states ITGI Vice President of Sales James McGowan. "Automating the merger process with IAM enables the banks to shave both time and costs by 30 to 40 percent."
A typical mid-level bank merger, employing traditional labor-intensive procedures, requires between 12 and 18 months and frequently results in questionable data quality and numerous patches and workarounds.
"IAM helps acquiring banks to determine which business processes, rules and data are redundant and which ones are unique or similar. Then they can make well-informed decisions as to which systems and databases stay, which get modified, and which should be retired. By automating ten aspects of the process, from upfront code testing to post-deployment validation, IAM cuts down on errors, heightens the quality of the retained information, and enables banks to seize the benefits of the merger quickly and efficiently," continued McGowan.
Hibernia president Dr. Michael McGrath is author of the recently published Banking M&A Integration Handbook, which is already being used by a number of prestigious banking institutions and systems integration firms.
"This strategic alliance has incredible timing. No one else has anything like it," adds McGrath. "The flexibility and power of the IAM tool suite, methodology and services will allow our European financial institutions involved in M&A activity to reduce integration risk, costs and time scales by systematically analyzing, comparing, and converting their systems."
About Hibernia Consulting (www.hibernia.pro/iam)
Founded in 2003, Hibernia provides project turnaround services; banking M&A integration; project management; operational risk identification and management; and strategic research. Clients include ABN Amro, Continuous Linked Settlement Bank, and Lloyds TSB.
About Infinite Technology Group, Inc. (www.itgl.net)
Established in 1993 and creators of Information Asset Manager, ITGI provides technical solutions including: code conversion / data migration; managed professional services; and infrastructure and support services. Clients include JP Morgan Chase, Bank of NY-Mellon, BNP Paribas, and the New York Federal Reserve.
ΒΆ Information Asset Manager(TM), Now Available to Banks in Europe
and America, Reduces Errors and Testing/Validation Time While
Improving Data Quality
