IBM said the new Core Systems Transformation platform (CST) is a portfolio of transaction processing platforms and services that the company says will allow banks to migrate their aging back-office systems to modern internet-based applications.
Banks’ back-office or core-banking systems are the mission-critical systems that process data and transactions for mortgages, loans and deposits.
CST’s software components are built on IBM’s WebSphere Extended Development technology, which aims to bring transaction processing to a component-based J2EE environment by integrating operations such as loan processing with other applications both inside and outside of the banking enterprise.
The platform also offers new automatic work-load balancing, batch scheduling and quick recovery features.
We are at the beginning of an important new era in the evolution of banking technology, said Mark Greene, IBM’s general manager for the global banking industry. The combination of IBM’s business-process expertise, standards-based advances in our software and hardware, and next-generation applications marks a new age of back-office capability.
