FRANKFURT, Germany, July 19 /PRNewswire/ -- A takeover battle is currently being fought for ABN Amro, Landesbank Baden-Württemberg has its sights clearly set on WestLB and HypoVereinsbank has belonged to the Italian UniCredit group since 2005. The consolidation of the European banking and insurance landscape is one of the key business issues of 2007. The aim of the mergers is frequently to harness synergies and maximise cost savings potential. Along with economic and cultural variables, IT integration is seen as a success factor that is central to the merger process. At the tenth European Banking & Insurance Fair (E.B.I.F.), which will take place in Frankfurt from 20 to 22 November 2007, many of the approximately 250 exhibitors will demonstrate the various ways of standardising, optimising or outsourcing IT systems.
The fantasies for mergers and acquisitions in the financial sector have been bolstering share prices in this area for months. However, company mergers require extensive changes in the IT structures of financial companies. Although it is possible to continue using the existing systems parallel as a hybrid solution, there is a serious risk of compatibility problems which, in extreme cases, can lead to an IT meltdown. Another solution is to operate a system that has already been installed in both financial institutions. Completely new IT solutions are used in the case of around 20% of all mergers.
For IT service providers, the consolidation of the financial sector holds considerable potential for business, e.g. through migration, IT modernisation and outsourcing projects. At the same time, banks and insurance companies often have great potential for optimisation. This is because IT is a key lever in the cost reduction process. This kind of undertaking would be unthinkable without expert advice by external service providers. After all, IT is not one of the traditional core competencies of the banking sector. The E.B.I.F. brings together decision-makers and IT experts from the world of finance - this is where the latest financial technology solutions are showcased. For visitors to the E.B.I.F., arguably the best place to find tried and tested examples of modern financial IT is the Business Solutions Forum, the main focus of the trade fair. Here, renowned IT service providers will present concrete best practice solutions to financial technology questions together with their customers.
Thorsten Wiesner, Sales Leader Financial Markets at IBM Deutschland, observes: "Post-merger economies of scale can only be brought about when the focus is on one of the two existing architectures. This means that IT process redundancies are eliminated". Large-scale mergers frequently entail longwinded migrations - some IT conversion processes have taken up to five years. IBM, a longstanding exhibitor at the E.B.I.F., offers a solution: "Here, IBM serves its banking clients by managing and maintaining the previous IT architecture within a specified timeframe and, at the same time, training the bank staff in the use of the new system", explains Wiesner.
More than 7,000 international users and decision-makers from financial and insurance institutions are expected, along with some 250 exhibitors, making this event Europe's largest independent technology trade fair for the banking and insurance sector. This year, the E.B.I.F. will once again be taking place within the framework of Euro Finance Week, the high-powered industry gathering of the European finance and insurance sectors in one of Europe's most important financial centres.
10TH EURO FINANCE WEEK 19 - 23 November 2007
E.B.I.F. Trade Fair 20 - 22 November 2007
NEW: Business Solutions Forum - 20 - 22 November 2007
Finanzplatz Gala - a benefit for UNICEF, 23 November 2007
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Contact:
Messe Frankfurt Ausstellungen GmbH
Doris Harsch
doris.harsch@mfa.messefrankfurt.com
Taunusstr. 7 a
65183 Wiesbaden,
Germany
Tel: +49-611-9-51-66-11, Fax: -24
www.ebif.com
www.mfa.de
Press contact:
Michael Diegelmann / Henryk Deter
cometis AG
Unter den Eichen 7
65195 Wiesbaden,
Germany
Tel: +49-611-20-58-55-13, Fax: -66
diegelmann@cometis.de
deter@cometis.de
Contact: Messe Frankfurt Ausstellungen GmbH, Doris Harsch, doris.harsch@mfa.messefrankfurt.com; Taunusstr. 7 a, 65183 Wiesbaden, Germany, Tel: +49-611-9-51-66-11, Fax: -24; Press contact: Michael Diegelmann / Henryk Deter, cometis AG, Unter den Eichen 7, 65195 Wiesbaden, Germany, Tel: +49-611-20-58-55-13, Fax: -66, diegelmann@cometis.de, deter@cometis.de
