“I believe it is incumbent on the Cloud Service Providers (CSPs) and/or System Integrators (SIs) to understand the regulatory and compliance-related issues that their customers face,” noted Manjula Talreja, VP of Global Cloud Business Development at Cisco, in this exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan. “Of course these issues are different in each industry and in each country.”
Cloud Computing Journal: The move to cloud isn't about saving money, it is about saving time - ...| By PR Newswire | Article Rating: |
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| March 18, 2013 04:26 AM EDT | Reads: |
618 |
OR YEHUDA, Israel, March 18, 2013 /PRNewswire/ --
Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software platforms for enterprise mobility, cloud applications, and business integration, announced today that Agricultural Bank of China Ltd. (ABC), China's third largest lender by assets, chose Magic's AppBuilder to develop its new generation of core banking application (the "BoEing", Blue Ocean Engineering), deployed at all of its nearly 24,000 banking facilities.
The application built by ABC using AppBuilder is a key component of the bank's core banking system. The vast application includes more than 20,000 programs and hundreds of thousands of application artifacts, and took a team of 350 developers two years to complete. AppBuilder's comprehensive application development infrastructure enabled ABC to easily deploy the application across a complex distributed environment containing many disparate technologies, including IBM Mainframe, Microsoft Windows, Cobol, C#_WPF, WSDL, DB2 and Sybase.
"We needed a robust solution that would support hundreds of millions of transactions per day and allow us to maintain complete control over the application development along the way," said Mr.Liang, the BoEing project manager at ABC. "For large, long-term projects like this, any delay is extremely costly. Not only did AppBuilder meet our demanding system requirements, it also enabled us to meet our aggressive deployment schedule."
"Forward-thinking banks like ABC, understand that their business is only as good as their underlying technologies," said Arik Killman, CEO of AppBuilder Solutions Ltd. "We are proud to be the development platform of choice for ABC and many other leading financial and Fortune 1000 institutions."
About Agricultural Bank of China
Agricultural Bank of China Limited ("ABC") is one of the major integrated financial service providers in China. Capitalizing on its comprehensive business portfolio, extensive distribution network and advanced IT platform, ABC provides a full range of commercial banking services, including consumer banking, corporate banking, investment banking, investment management, global wealth management, private equity, mortgages, credit cards, foreign currency deposits, loans, international and domestic settlements and currency trading.
At the end of 2011, ABC had over 395 million retail customers (ranking first among all large commercial banks), and nearly 24,000 branches. It is China's third largest lender by assets. ABC went public in mid-2010, fetching the world's biggest ever initial Public Offering (IPO). As of 2011, it ranks 7th in the Banker's "Top 1000 World Banks" list in terms of profit before tax for the year of 2010.
For more information, visit http://www.abchina.com/en/
About Magic Software Enterprises
Magic Software Enterprises (NASDAQ: MGIC) empowers customers and partners around the globe with smarter technology that provides a multichannel user experience of enterprise logic and data.
For more information, visit http://www.magicsoftware.com.
Except for any historical information contained herein, matters discussed in this press release might include forward-looking statements that involve a number of risks and uncertainties. Regarding any financial statements, actual results might vary significantly based upon a number of factors including, but not limited to, risks in product and technology development, market acceptance of new products and continuing product conditions, both locally and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in Magic's most recent annual report and other filings with the Securities and Exchange Commission.
Magic has made every effort to ensure that the information contained in this press release is accurate; however, there are no representations or warranties regarding this information, including warranties of merchantability or fitness for a particular purpose. Magic assumes no responsibility for errors or omissions that may occur in this press release.
Magic is a registered trademark of Magic Software Enterprises Ltd. All other product and company names mentioned herein are for identification purposes only and are the property of, and might be trademarks of, their respective owners.
Press Contact:
Tania Amar | VP Global Marketing
Magic Software Enterprises
tania@magicsoftware.com
SOURCE Magic Software Enterprises Ltd
Published March 18, 2013 Reads 618
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“Regulations and compliance are key trust topics with regards to cloud solutions and technology,” noted Sven Denecken, Vice President, Strategy and Co-Innovation Cloud Solutions, SAP AG, in this exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan. “But it is also more than security of access – it is portability of data and a clear definition of where the data resides.”
Cloud Computing Journal: The move to cloud isn't about saving money, it is about saving time – agree or disagree?
Sve...
Many organizations want to expand upon the IaaS foundation to deliver cloud services in all forms – software, mobility, infrastructure and IT. Understanding the strategy, planning process and tools for this transformation will help catalyze changes in the way the business operates and deliver real value.
IT has more opportunities than ever before with the growth in users, devices, data and secure cloud services. This creates not only a more enriching experience for users, but more opportunities for businesses. The key to capitalizing on these opportunities is to have the right tools in place to help scale operations. In his Day 3 Keynote at 12th Cloud Expo | Cloud Expo New York [June 10-13, 2013], Intel's Rob Crooke will describe the range of products that Intel provides to support different usa...
One of the cloud’s biggest draws is the capability to virtualize computing resources, allowing it to be consumed with the click of a mouse. But behind that simple click is an enormous infrastructure challenge that has recently been cited as a major cause for slower enterprise adoption. Enterprises can better prepare for this shift and take full advantage of future computing benefits. Between architecture design and migration planning, the road can be long, so what do you do with your talent?
I...
In the old world of IT, if you didn't have hardware capacity or the budget to buy more, your project was dead in the water. Budget constraints can leave some of the best, most creative and most ingenious innovations on the cutting room floor. It’s a true dilemma for developers and innovators – why spend the time creating, when a project could be abandoned in a blink? That was the old world. In the new world of IT, developers rule. They have access to resources they can spin up instantly.
A hyb...
INetU, the industry's experts in complex hosting and a global provider of business-centric managed cloud and application hosting, has announced that Cloud Architect Rich Hand will be presenting "Private Cloud, Public Cloud - Is There a Third Option?" at the 12th International Cloud Expo taking place June 10-13, 2013 in New York City.
As more enterprise IT departments move into the cloud, many executives are evaluating whether to adopt a Public or Private cloud. The cost benefits of the Public ...
“I’m careful when using terms like Big Data, because it can mean so many things to different people,” explained Eric Hanselman, Chief Analyst at 451 Research, in this exclusive Q&A with Cloud Expo Conference Chair Jeremy Geelan. “There is huge value in analytics that companies can use to pull intelligence from a collection of data sources that are available in their businesses. The inexpensive storage that cloud services can offer make a great environment to pull together siloed data.”
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