This week marked banking-business-solutions provider Bisys Information Solutions’ entrance into the ASP arena.
Resting its new line of browser-based “thin client” banking solutions on the ASP platform, the Little Falls, NJ-based Bisys (BSYS) claims to be the first provider of outsourced banking solutions to take this path. The release date for the product line is slated for the near future.
“While the ASP concept may not be that new, it is reasonably new to the banking community,” said Steve Ryan, executive vice president. “The ASP environment reduces the banking community’s risk of technology and that is a real benefit.”
According to Bisys president Bill Neville, the company’s foray into the ASP arena will enable the company to assume complete operational responsibility and deliver banking applications in a centralized ASP environment.
“While bankers want the functionality delivered by these solutions, many underestimate the attendant data processing and management requirements,” said Neville.
The ancillary applications will be hosted at Bisys’ regional service centers, alleviating the burden of data processing to client financial institutions. Prior to this, most non-core applications have been Windows-based, requiring that the technology reside at the bank, Neville explained to ASP News. “This required the bank to make significant investments in hardware and IT personnel,” he said.
Bisys currently has 3,500 clients, 300 of which are core processing clients that will be able to take advantage of the new ASP environment. There is a one time licensing fee for these solutions, plus a monthly maintenance fee that could vary from $100 to $1,000 a month, based on the volume of accounts and transactions put through the system, according to Neville.
Bisys was awarded the exclusive endorsement of the American Bankers Association (ABA), through its subsidiary, the Corporation for American Banking (CAB), for its core information processing solutions for community banks.