06-03-2013

This first Software Vendor community aims at delivering cutting-edge solutions and benefits to banks on privacy issues

• 7 leading companies in this business sector – Deloitte Consulting Srl ("Deloitte"), Almaviva, CAD IT, Capgemini BST, Enterprise, Sydema, TAS Group – come together, for the first time, to offer an unprecedented service to banks.
• The objectives of this new approach are saving resources and time, combined with a method for minimizing risk.
• A prompt response to regulatory needs with a huge impact on the bank sector.

Milan, 6 March 2013 – A community of market leaders: this is the ground-breaking idea proposed by Deloitte to a group of leading ICT companies, to address the privacy-related regulatory needs of banks. The companies offering complementary services and products are:

• AlmavivA, the first to support this project, is one of the top ICT players in the Banks & Insurance sector, offering market-leading proprietary solutions for the management of the principal business processes.
• CAD IT, one of the most dynamic companies in the Information Technology sector and a leading provider of financial trading software.
• Capgemini BST, a company controlled by Capgemini Italia, focuses on services and products for the world of finance, a leading provider of packages for managing the procedures related to bank accounts, deposits and the related systems, pricing systems and condition management.
• Enterprise, a leading company in the development of Payment Systems and products related to foreign operations.
• Sydema, a software house leader in Italy, focusing on applications for accounting and organization management and non-performing credit (monitoring problem loans, impaired loans, non-performing loans, IAS, in and out-of-court disputes).
• TAS Group, a leading electronic money company, focusing on systems for payments, financial markets and treasury.

The background to this project lies in a measure, issued by the Data Protection Authority, which can greatly impact the information systems of banks, namely, the obligation to keep all transaction-related information for a period of two years, even information relating to the inquiries conducted on customer relations by bank staff, i.e. the users of the information system.

Under this measure, banks should verify and upgrade their logs – the archives containing information about the transactions carried out by their information systems – which, as is well known, are the most complex of all business sectors.
The measure also requires the setting up of a repository for all the information and implement systems for identifying any improper behavior by bank employees.

This measure, in fact, stems from situations in which information on the size and movements of clients' (accounts) have been unduly disclosed and unlawfully used.
In the current economic situation this “revolution” could significantly impact the banking sector, because it will require the implementation of projects that, in many cases, may be costly, very long and feature a high degree of risk.

Therefore, Deloitte has proposed the setting up of a community of SW Vendors to develop a solution for banks capable of tackling this issue.

Massimo Tomasi, Deloitte Partner and sponsor of the project, declared: "Deloitte will support the project, thanks to our considerable expertise in bank processes and ICT architectures, with specialized teams. This approach is based on the study and analysis of numerous projects developed in this field by the Deloitte network, also with precious assistance of regulatory specialists coordinated by our Partner Tommaso Stranieri".

It is the first time in the history of Italian banking SW that a group of companies has come together to collaborate, maintaining their autonomy, to offer a better service by pooling their expertise according to a comprehensive approach combining ICT and organizational aspects.