Kanbay Forms a Strategic Alliance With ILOG to Enhance Flexibility of Financial Services Applications
Business rules management systems enable financial services companies to align business and IT objectives
ROSEMONT, Ill., Sept 13, 2005 /PRNewswire-FirstCall via COMTEX News Network/ -- Kanbay International, Inc. (Nasdaq: KBAY), a global IT services firm focused on providing solutions to the financial services industry, announced today an alliance with ILOG(R), a leading provider of enterprise-class software components and services, to improve the flexibility of software applications enabling financial services firms to meet their business needs.
Under terms of the agreement, Kanbay will work with ILOG to market and integrate ILOG JRules(TM), a key offering in ILOG's Business Rule Management System (BRMS) product line, into complex financial services systems. As part of the agreement, ILOG will train Kanbay associates on ILOG JRules. Business rules based systems allow both business users and the IT staff to manage complex systems easily, while increasing their overall efficiency.
Kanbay provides a deep understanding of the financial services industry and a unique global delivery model that are key to defining high quality business rules for complex financial services systems. Kanbay has already successfully deployed ILOG's BRMS as part of a major billing and payment project for a large property and casualty insurance provider in the United States. As a result, the insurer was able to improve the maintainability of the system and move into new geographies with minimal impact to the software architecture.
"All businesses operate according to specific workflow processes that need constant adjustments to the environment in which the companies operate, such as laws and regulations, new services or an expanded customer base," said Francis R. Albin, Senior Vice President of Global Alliances at Kanbay. "Technology must enable businesses to adapt to changes quickly and ILOG provides a powerful and solid platform to enhance the flexibility of applications. We look forward to expanding our relationship with ILOG and servicing the BRMS user community."
"The effective use of a BRMS depends on the quality of the business rules," said Bounthara Ing, Chief Operating Officer at ILOG. "Kanbay's unique knowledge of the rules that govern the financial services world in areas like insurance, securities, and banking, add tremendous value to a client deploying the ILOG BRMS."
About Kanbay International, Inc.
Founded in 1989, Kanbay International, Inc. (Nasdaq: KBAY) is a global IT services firm focused on the financial services industry. With over 4,700 associates, Kanbay provides its services primarily to banking institutions, credit service companies, insurance companies and securities and investment firms. The company uses a global delivery model to provide application development, maintenance and support, software package selection and integration, business process and technology advice, and specialized services. Kanbay is a CMM Level 5 assessed company headquartered in greater Chicago with offices in the U.S., Canada, U.K., Australia, Hong Kong, Japan, Singapore and India. Further information about Kanbay can be found at http://www.kanbay.com.
About ILOG
ILOG delivers software and services that empower customers to make better decisions faster and manage change and complexity. Over 2,000 global corporations and more than 400 leading software vendors rely on ILOG's market- leading business rule management system (BRMS), optimization and visualization software components, to achieve dramatic returns on investment, create market- defining products and services, and sharpen their competitive edge. ILOG was founded in 1987 and employs more than 600 people worldwide. For more information, please visit http://www.ilog.com.
ILOG is a registered trademark, and ILOG JRules is a trademark, of ILOG. All other trademarks are the properties of their respective owners.
