HSBC updates workflow system

Banking giant HSBC is updating the workflow automation system it is using, in order to get customer queries answered more quickly. The financial services company has settled on Pegasystems` SmartBPM as its enterprise business process management (BPM) toolset, silicon.com reports.

The ability of the software`s J2EE architecture to support the bank`s next-generation architecture was also a key to its selection, HSBC said.

Initial projects include the Securities, Asia Pacific Retail Lending and the Global Payments and Cash Management businesses. HSBC will be building a Centre of Excellence for BPM in both Chicago and India.

Fujitsu Software and Zynium have entered into a partnership where Zynium will provide a solution for utilising existing intellectual capital for BPM, reports the Sarbanes-Oxley Compliance Journal.

Zynium, a provider of middleware for workflow, will enable its Microsoft Visio process maps exporter to be compatible with Fujitsu`s Interstage Business Process Manager 7.1, the newest version of Fujitsu`s award-winning BPM software.

The compatibility of Zynium`s Byzio Exporter, with Interstage Business Process Manager, allows direct conversion of existing libraries of static Visio diagrams into executable business process applications.

OpenPages, provider of governance, risk and compliance management (GRCM) solutions, has announced the availability of OpenPages ORM, a software solution that enables organisations to identify, measure, monitor and manage operational risk on an integrated, company-wide basis.

According to Sys-Con Australia, with OpenPages ORM risk managers reduce the likelihood of unexpected business events to improve operating margins, minimise earnings volatility, increase efficiency, ease regulatory burdens and optimise capital allocation reserves.

"The goal of operational risk management is not to eliminate risk, but to better understand the potential exposure and manage it to appropriate levels," said Michael J Duffy, president and CEO of OpenPages.