Diasoft, a leading provider of software solutions for the global financial industry, offers an opportunity for online testing of its Legacy Renovation technology through real-time conversion of COBOL source code to Java EE at http://cobol2java.com/.

Based on more than 20-year experience in software development and using the best IT practices and globally approved technologies, Diasoft offers to the market a modern cost effective approach to legacy solutions enhancement which allows rapid modernization of the existing IT infrastructure and also provides the business with a powerful development tool.  

Diasoft’s unique legacy renovation methodology involves the automated conversion of legacy source code to cutting-edge SOA JavaEE technology, making it possible to rapidly transform aging IT infrastructures into the modern 3-tier architecture without the need to reconstruct the existing business processes or get rid of the corresponding customized software features. The technology is based on Diasoft Framework - a modern SOA-compliant development tool and reliable platform for Java-based services, and has successfully proven its efficiency with obsolete systems developed in COBOL (including BMS Maps and JCL), SmallTalk, SQL, Oracle Forms, Borland Delphi, Centura/Gupta, Visual Basic), etc.

Modernizing legacy solutions with our Legacy Renovation technology, organization acquires a modern scalable system, running on most available enterprise-class servers, operating systems and databases – a system which can be easily integrated into any IT-landscape and which can serve as a basis for the development of an integrated IT-infrastructure. All the unique business logic of a legacy solution is retained and can be further expanded or modified in accordance with new business requirements, with the modifications taking much less time and efforts.

Here are 5 main advantages of system modernization with the help of the Legacy Renovation technology:

• Retaining and extending legacy investments, since the unique business logic is maintained in the renovated system;
• Retaining user interfaces and pageflow logic, which saves time for training staff to work with a new system;
• Automated conversion of the business logic — we do not need to know how this logic works, and we will not spend months for auditing and creating thousands of pages of specifications;
• Parallel running of the new and the old systems, which considerably reduces risks and allows for gradual migration of users to the new core banking system and allows for instant switching back to the old system in case of emergency;
• Iterative approach to the project allowing for gradual system modernization and step-by-step migration of the functionality to the Diasoft Framework. In comparison to other approaches, it allows for smooth migration for both the business and IT.

Diasoft is the first provider, offering an opportunity to test its Legacy renovation service online. Check our real-time COBOL to Java EE converter at http://cobol2java.com/. Being a part of Diasoft’s Legacy Renovation technology, online converter was designed to demonstrate advanced capabilities of migration toolkit, allowing to convert COBOL statements into readable and supportable Java code. Simply run your COBOL code through the translator and launch converted code right in the window of your browser.

“Diasoft has great experience in successful modernization of both its own solutions and systems provided by other vendors, including the projects for the implementation and running of the renovated systems in several banks. This is the reason why we understand well all difficulties and risks the bank can face during such projects and how to overcome such challenges. We have necessary tools and expertise to fulfill the modernization projects in the most efficient way – both in terms of technologies and in terms of project planning and risk management. In other words, we offer not only an innovative and technologically advanced platform, but a transparent project approach, with predictable terms and budget”, - Alexey Zanyuk, Director for Legacy Renovation Department, Diasoft.

After meeting with great success  during  previous  voting  campaigns, Version III of VOTACCESS, the platform for collecting shareholders' electronic votes prior to general meetings, is available for the 2014 season. 
 
The launch of VOTACCESS at the end of 2011 was initiated by the French Association of Securities Professionals (AFTI), and since then the number of issuing companies signing up for the platform has continued to increase, from six in 2012 to 25 in 2013. 
 
While already half of the companies listed on the CAC40 chose VOTACCESS for their 2013 general meetings, the aim is to have new issuers from the CAC40 and SBF250 sign up every season. The 2014 season is already looking very promising in this regard. 
 
All the major banking networks are now connected to VOTACCESS. The platform has demonstrated its reliability and robustness, and feedback from shareholders regarding its ease of use has been extremely positive. The platform's success is helping to promote shareholder democracy. 
 
New features of Version III 
Every year, the platform is upgraded to meet the needs of a growing number of issuers and shareholder types. 
 
For example, two of the most notable new features of the 2014 edition are: 

• inclusion of votes of those who hold units in French employee savings schemes (FCPEs): already compatible with bearer and registered forms of unitholding, VOTACCESS now allows indirect unitholders via FCPEs to vote,  
• voting screens now available to shareholders in four more languages, bringing the total number of available languages to six: French, English, German, Dutch, Spanish and Italian. 

 
VOTACCESS: an innovative initiative from AFTI, operated by SLIB 

AFTI delegated the task of creating and managing the VOTACCESS platform to software  publisher SLIB. The platform has been operational since 2011. 
 
Shareholders of listed companies that have chosen to use this platform may, under certain conditions, transmit their voting instructions electronically to VOTACCESS in the form of highly secure electronic data.  
  
After viewing digital documents made available to them within the platform, shareholders can: 

• vote directly on resolutions proposed by the AGM, 
• designate an authorised representative, 
• request an attendance card. 

 
By the same token, shareholders' voting instructions sent by mail are scanned by the account holders as soon as they are received. They are then recorded in VOTACCESS, allowing fully automated centralisation. 
 
The benefit of this initiative for issuers is that it encourages many more shareholders to vote. 
 
Furthermore,  issuers  are safeguarding the environment by disseminating information and collecting 
shareholder votes entirely electronically. 
 
VOTACCESS is a trademark of SLIB.

Diasoft, a global provider of cutting-edge core banking solutions, continues the complex project of FLEXTERA BI implementation in Interprombank.

Currently FLEXTERA BI “Reporting” implemented in Interprombank supports all of the 15 reporting forms, including: 0409102, 0409110, 0409115, 0409117, 0409118, 0409125, 0409135, 0409251, 0409257, 0409808, as well as currency control forms like 0409401, 0409402, 0409405, 0409407, 0409664. The choice of FLEXTERA BI is based on a long-lasting cooperation of Interprombank with Diasoft. The bank is an active user of Diasoft`s complex core banking solution.

Development of Interprombank business required an increased performance and improved business-processes, while constant changes of regulatory requirements made the extended reporting functionality critical for the bank. As a result of FLEXTERA BI implementation Diasoft automated key processes of Interprombank in terms of the most complex reporting forms.

“Reporting” solution, developed based on FLEXTERA BI Analytical Center, allows building an effective reporting process and ensures the increased performance of work due to the high level of productivity and flexibility in setting of every reporting form by Interprombank business-users with minimal involvement of IT-specialists. The system provides data enrichment and reports specification opportunities for the additional analysis basing on industrial visualization tools. Ability for inter-form and cross-form quality control of input and processed data allows forming the reliable reports and discovering weak points in accounting systems through analysis of identified errors.

“We were able to achieve first business results within only 5 months period after the project start. Since all the necessary data has already been collected within a single storage model further implementation of reporting forms appeared to be much faster”, - said Irina Nikotineva, Head of Reporting Department, Interprombank. “We order the implementation of additional FLEXTERA BI forms step by step - according to our real time requirements. Due to recent tightening of calculations algorithm by local regulator we launched in production reporting form 0409125 “Information on assets and liabilities by claiming and repayment period” basing on FLEXTERA BI. I want to highlight the professionalism and teamwork of Diasoft specialists involved into requirements analysis and implementation of this reporting form in Interprombank.”

ElectraCard Services (ECS), provider of software solutions for electronic payment systems, successfully helped launch the Western Union® ICICI Bank Prepaid Card in India recently, as Western Union’s preferred technology and processing service partner.

The Western Union® ICICI Bank Prepaid Card offers millions of under-banked Indians who carry cash 24/7; a much-safer way to store and access their money any time along with new spending options locally.
 
ECS’ award winning Electra prepaid platform hosted from its world-class PCI-DSS certified data centers brings significant advantages with its advanced functionality, high reliability, scalability and the required flexibility to provide innovative services on an on-going basis, across the entire card life cycle.

ElectraCard Services, a subsidiary of Opus Software Solutions, provides software and third party processing services for cards and payments management industry across the world including MasterCard® and VISA®. ElectraCard Services enables financial institutions, retailers, finance companies and corporations to electronically process, in real-time, any type of payment transaction, including credit, debit, pre-paid, and Account Clearing House.
 
The Western Union ICICI Bank Prepaid Card elevates Indians into the financial mainstream in a nation where usage of bank accounts by those aged 15+ are 35.2 per cent; 8.3 per cent receive a wage into a bank account; 1.9 per cent receive remittances into an account and 4.1 percent use an account for business[1] .
 
Indians can load monies derived from income, government payments, gifts and other earnings including remittances after they have been cashed out.  In addition the card will soon offer card-to-card transfers and third-party top-up capabilities
 
 “For over 19 years in India, Western Union has been proud to lead the way in enhancing the lives of hard-working overseas Indians and their loved ones at home by moving their hard-earned monies through our Agent network,” said Kiran Shetty, Managing Director Vice President, Western Union India.
“In a nation where 65 % of the population are under-banked and resort to makeshift ways to protect their cash, the Western Union ICICI Bank Prepaid Card will provide a more secure way to store cash and encourage greater savings and future planning, including emergencies,” said Mr. Shetty.
“In introducing this innovative financial service – unique collaborations were forged with many parties besides ICICI Bank and Mastercard.  In particular, we are delighted with our association with ECS – the combination of their world-class technology platform and a real collaborative approach has made a difference towards our speed to market”, he said.

Mr. Ramesh Mengawade, CEO, ElectraCard Services said, “As the preferred partner of the world’s largest card providers - at ECS; we are privileged to form part of a team that has introduced a financial mechanism  that will benefit millions of Indians and bring them into the financial mainstream.
 
“While we marry technology to facilitate card service – it is really gratifying to bring all these forces together to serve consumers conveniently without the individual having to deal with the complexity of having to own or access sophisticated technologies,” he said.

BCS Prime Brokerage (‘BCS’), the international arm of the largest trader of equities and derivatives on the Russian exchange, has announced a strategic partnership with ARQA Technologies to implement ARQA’s automated back-office software – backQORT. 

The multipurpose back office system, which provides record-keeping, trade settlement, regulatory reporting and partial management accounting, will provide BCS clients with access to new markets and a more efficient transaction clearing model.

The BCS platform will now perform accounting of spot instrument operations in various markets including the Moscow Exchange (MOEX) the London Stock Exchange (LSE) and the MOEX Currency market.

The backQORT system makes calculations of various taxes applicable to companies operating in accordance with EU regulations. One of the improvements introduced into the system is the function to directly clear transaction at exchanges and through international clearing organisations.

The new functions acquired by the system over the course of the latest implementation are now available to all clients of ARQA Technologies.

Tatiana Chepeleva, Managing Director, Head of IB operational strategy at BCS, added: “The main challenge we faced was to implement a universal system that would incorporate different markets, instruments and currencies. While developing the system there have been wide consultations made and we have met the high standards and business requirements of the company. Implementation of the software has been a huge success.”

Vladimir Kurlyandchik, Director of Business Development at ARQA Technologies, commented: “This project has demonstrated a combination of experience in development of complex software and the know-how of a leading financial market operator. The upgrade and implementation of the software has only taken six months thanks to efficient work of business analysts of the BCS group.”

Throughout the third quarter of 2013 ARQA Technologies carried out the implementation of front-end program complex QUIK at 5 investment companies and banks including Baikal Bank from Ulan-Ude and Bank Stroykredit from Moscow.

A QORT-based solution – the middle-office midQORT – was implemented in ROSBANK (Moscow). The midQORT solution is particularly efficient for post-trade risk management as it works in conjunction with the front-office QUIK and employs online control of client positions, limits and P&L. ARQA Technologies is delighted to welcome on board ROSBANK as a new client who will be using its increasingly requested middle-office solution.

ARQA Technologies (ARQA), the independent financial markets software provider, has announced it will provide clients with a consolidated financial data feed provided by S&P Capital IQ Real-Time Solutions. The global provider of next generation trading products will address the growing demand from ARQA clients for differentiated low-latency data at different speeds. 

S&P Capital IQ Real-Time Solutions is one of ARQA Technologies’ long-standing partners in the provision of ‘fast’ market data delivery. The global ConsolidatedFEED, an additional offering from the firm, is designed for investors, sales/traders and risk managers, as well as electronic quote and news applications. The end-to-end market data feed is delivered to support electronic trading applications and real-time risk management. The solution provides both normalized and value-added market data and promises seamless integration with existing legacy or in-house distribution systems. 

As well as investment banks and asset management companies, the innovative ConsolidatedFEED benefits corporate and financial institutions that need to power in-house applications such as middle-office portfolio and risk applications. It may also be used for back-office applications as snapshots of real-time data needed to price portfolios and positions.

Integration with ARQA’s products will bring the global consolidated feed to end-clients and trading desks of companies which use the QUIK front-office system. When QUIK is employed as a risk server the new feed may serve for the purposes of online real-time pre-trade checks, as well as post-trade analysis of positions opened in global markets. Existing solutions integrating ARQA’s products to back-office platforms will transparently bring relevant data into accounting systems of companies and banks. The implementation of the global ConsolidatedFEED to solve such tasks will reduce overall costs of market data for clients without loss of quality compared to ‘fast’ alternatives. The feed consolidates data from 21 points of presence and provides the data from hubs inside co-location facilities in New York and London. 

Brian Cassin, Managing Director at S&P Capital IQ, commented: “The consolidated data feed is for clients that do not have ultra-low latency as their most important requirement. They may be looking for low latency, but also broad coverage of global exchange data, data aggregation, normalisation, ease of implementation and ease of data consumption.”

The General Director of ARQA Technologies, Yuri Voronov said: “We believe some of our customers may discover that the new consolidated data feed offers an opportunity to enhance their performance due to better access to global exchange data and, thus, offer improved service to their own customer base.”