Bank of America has selected the webMethods, Inc.
integration platform as the technology backbone for its corporate banking integration program, including its enterprise application integration, B2B integration and straight through processing initiatives. As part of the agreement, webMethods software will connect Bank of America’s internal applications and extend these applications externally to the treasury systems of their corporate customers and alliance partners.
Using the webMethods integration platform, Bank of America can automate business processes, such as corporate treasury initiatives, within the company and with corporate customers around the globe. Initially, Bank of America will be connecting applications across the company’s wholesale banking businesses starting in the global corporate and investment bank and global treasury services divisions.
“Facilitating seamless transactions through ‘straight through processing’ is a significant advantage in the financial services industry,” said David Mitchell, president and chief operating officer of the Fairfax, Va.-based webMethods. “The webMethods integration platform will provide Bank of America with a strong technology backbone to address critical integration challenges and provide real-time processing for corporate transactions around the globe.”
Founded in 1996, webMethods has offices throughout the U.S., Europe and Asia Pacific. The company has approximately 700 customers worldwide including Citibank, Dell, Eastman Chemical, The Ford Motor Company, Grainger, and Motorola. webMethods’ strategic partners include Accenture, Ariba, BroadVision, Commerce One, Deloitte Consulting, EDS, Hewlett-Packard, i2 Technologies, J.D. Edwards, KPMG Consulting, Microsoft, Oracle Corp., SAP AG and Siebel Systems.