News Releases
Software Developed for Bank of Bermuda Wins FIS (Sanchez) 2002 Innovation Award
14th January 2003
The Real-time Foreign Exchange System developed by Peter Muir & Associates for the Bank of Bermuda has won the FIS (Sanchez Computer Associates’) 2002 Innovation Award.
The Real-time Foreign Exchange System extends the FIS Profile® application to allow numerous channels, such as Web, Wire Payments and Teller System, access to real-time foreign exchange market rates and real-time transfer of the Treasury Position.
Peter Muir & Associates was involved in the complete process of design, development, unit testing, and assisting with system integration and user-acceptance testing. The design of the Real Time Foreign Exchange System was based on the Bank of Bermuda's business requirements, and involved working with the Bank's Information Systems and Business Divisions located in Bermuda and Scotland. The software was designed using the latest DATA-QWIK™ development tools and procedures, and the System encompassed the creation of just over 31,000 lines of code. Peter Muir & Associates provided the Bank with detailed examples of how trades would be calculated, and how general ledger transactions would be processed and reconciled. The system was developed as a bolt-on package to allow migration to newer releases, and the design is Table-driven allowing the Bank to change business parameters without programming.
The Bank was pleased to work with Peter Muir & Associates on the development and deployment of this business solution. It is always satisfying when external parties recognise the value of the work you have done and we thank FIS for honouring us with their Innovation Award for 2002. We in turn would like to acknowledge the significant contribution to the project made by Peter Muir & Associates. Their experience and professionalism were key factors in the successful and timely delivery of the project.
David Hyland, Director of Product Management, Bank of Bermuda.