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Session Description
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| Title: |
Financial Services |
| Speaker: |
Paul Madeira,
Open Text |
| Description: |
The Financial Services industry is adapting to market forces at a more rapid pace than ever before. On the one hand the increasing use of the Web is generating new revenue streams and business opportunities while also posing new technological challenges. On the other hand the requirementof responsible and transparent accountability and good corporate governance has led to the respective legislatures inspecting more closely the workings of this sector. The consequence of this is that meeting compliance regulations and standards by organisations in Financial Services has made the issue the most pressing that board-level directors and executives have to deal with today.
The regulators do not say how companies are to meet the requirements, they just stipulate what information needs to be made available in inspections, audits, reports, and stored in archives, and with relatively little notice periods. The burden of these developments-diverse and complex Web applications and regulatory needs-have fallen on the beleaguered corporate IT department. Devising solutions to these challenges is a significant undertaking. For example, there is no single out-of-the-box solution to meet all the regulatory requirements, regardless of organisation size, and different solutions will be necessary for different size organisations. Open Text allows companies the ability to solve the challenges thrown up by new legislation and the rapid pace of change in the new web-enabled global business.
Open Text enables organisations within the Financial Services sector to deploy solutions that have been commenced through the compliant nature of the industry, whilst at the same time reducing overall costs and improving the companies operational efficiencies.
Open Text assists more than 1,000 companies in the Financial Services Sector and the revenues for this sector for Open Text in 2006 was 12% of the total world wide revenue figure. This Financial services track will provide an insight as to strategy for Open Text and the type's of solutions that are being deployed in conjunction with key partners to many valued clients. We look forward to seeing you at this informative session.
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| Session Type: |
Vertical Solutions Session |
| Room: |
Hollins Suite |
| Time: |
10:35 |
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