DekaBank Uses ILOG Solution for IFRS Compliance
DekaBank has deployed ILOG JRules solution to help comply with the International Financial Reporting Standards (IFRS) reporting requirements for managed accounts. Using this solution, the business user from the fund reporting division can now make changes to the system without any interaction from IT, reducing the time-to-market for new IFRS rules. The company claims that most changes can now be completed within one to two days compared with up to four weeks previously. Prior to deploying ILOG JRules, DekaBank had business rules hard-coded in their IT systems, which meant that changes such as the new IFRS rules were difficult to implement. In addition, ILOG JRules is designed to aid business-IT alignment, as it provides DekaBank’s business teams with their own rule-management interface and environment that is separate but synchronised with IT. The solution can also allow technical teams to leverage corporate development standards, like Eclipse, best practices and processes. The new solution has also enabled the bank to increase the number of reporting templates it offers its clients from one to three (banking, insurance, industries).