Citibank Hong Kong Honored with 2009 Banker Innovation Award for Groundbreaking Use of TIBCO Real-Time Software
Real-Time Brings Benefits to Financial Institution
TIBCO Software Inc. (NASDAQ: TIBX) today announced that its customer, Citibank Hong Kong, has been awarded the Banker Innovation in Technology Award for results achieved from implementing TIBCO BusinessEvents™, a Complex Event Processing (CEP) software. The Banker Innovation Awards recognize leading edge technology projects that have significantly increased a bank's competitiveness and improved overall performance.
Working with TIBCO, Citibank's Hong Kong retail business developed a real-time marketing and customer acquisition engine -- Centralized Offer Palette System (COPS), to evaluate transaction events like credit card purchases to further identify and offer personalized and relevant benefits for customers.
"With COPS going live, real-time data can be used to analyze customer actions and behaviors, allowing us to instantly analyze and better meet customer needs," said Maggie Yung, country marketing director, Citi Hong Kong. "TIBCO's CEP software enables us to leverage customer data so we can provide highly relevant and tailored offers at the time the customer is most interested. Our time-to-market with new product offerings has been cut from 8 weeks to 8 days"
The Banker Innovation Awards contribute to the development of best practices and help to identify emerging benchmarks that practitioners use in their technology and operational investment and implementation decisions. The program comprises 13 categories like Best Core Banking Project, Best CRM/Applications Project, Best Risk Management Implementation, Best Multi-Channel Capability, and Best ATM Installation and Management Project, amongst others. Judges and analysts will also interview with relevant people in the project.
"Businesses like financial institutions must operate with the real-time data in order to remain competitive in today's market," said Ram Menon, executive vice president, TIBCO. "Our Complex Event Processing software empowers companies like Citibank to capture consumer data and leverage it to better serve their customers."
TIBCO's technology digitized Wall Street in the '80s with its event-driven "Information Bus" software, which helped make real-time business a strategic differentiator in the '90s. Today, TIBCO's infrastructure software gives customers the ability to constantly innovate by connecting applications and data in a service-oriented architecture, streamlining activities through business process management, and giving people the information and intelligence tools they need to make faster and smarter decisions, what we call The Power of Now®. TIBCO serves more than 3,000 customers around the world with offices in more than 20 countries and an ecosystem of over 200 partners. Learn more at www.tibco.com.
TIBCO, TIBCO Software, and TIBCO Business Events are trademarks or registered trademarks of TIBCO Software Inc. in the United States and/or other countries. All other product and company names and marks mentioned in this document are the property of their respective owners and are mentioned for identification purposes only.