Hitachi, Ltd. today announced the "Cyberfront" group of business solutions aimed at solving the problems that companies face in business development. As the first
of the "Cyberfront" solutions, Hitachi commercialized a business solution for financial services called "Solutionmax for Finance" in accordance with the "Big Bang" liberalization of financial services in Japan. Solutionmax for Finance employs the Hub & Spokes architecture.* Sales of this
new solution product will start on August 5 in Japan.
*Hub & Spokes architecture: architecture which enables
flexible and efficient connections between new channel
systems, new product systems, management systems and existing systems based on distributed object technology.
Many industries, especially the financial services industry, are symbolized by such expressions as the "Big Bang," "deregulation" and "globalization," and are facing an era of increased competition, which will extend beyond
the existing business boundaries. Therefore, information systems must provide business solutions which are more
closely related to management, including areas ranging from the analysis of business opportunities to risk management.
In May 1996, Hitachi announced the basic concept of information systems, called "FOREFRONT with Cyberspace," aimed at establishing a humanized and sophisticated information society which manages corporate activities, social activities and family life in a global networkspace based on "Network Computing."
Through joint development with Sakura Bank, Hitachi launched an integrated profit and risk management system called the Asset Liability Management (ALM) system. Further, Hitachi has been quick to provide information system packages and services adapted to the financial Big Bang using an application package from Nomura Research Institute. These efforts have encouraged the spread of systems such as over-the-counter mutual funds sales system
for banks to sell mutual funds.
The newly released "Cyberfront" is a product which groups together all of the solutions which Hitachi previously provided to meet the particular needs of various industries and businesses in order to directly address corporate management issues. Cyberfront is composed of the "Solutionmax Series" developed for every
industry and business that has a common solution base.
"Solutionmax for Finance" is the first in the series of solutions commercialized by Hitachi.
"Solutionmax for Finance" is a business solution based on the new Hub & Spokes architecture.
Combined with the latest know-how of product groups from Japan and overseas, Solutionmax for Finance will assist financial service companies in the speedy and efficient adaptation to the Big Bang. Composed of seven business sub-solutions, Solutionmax for Finance can be adapted
to the broad and varied business operations of financial institutions.
In order to strengthen the development and sales of these kind of solutions to the financial services industry, on August 21, 1998, Hitachi will establish a Financial Big Bang Business Promotion Center within the Information Systems Division that will specialize in the planning
and development of related new products. The Center will further promote business solutions adapted to the Big Bang for the financial industry in Japan through marketing and alliances with leading customers and partners. The Center will consist of staff related to the Big Bang including researchers, software engineers, system engineers and engineers in charge of ATMs and branch systems, and will provide system using their combined talents.
In the future, Hitachi plans to develop solutions for other areas outside the financial services industry such as for distribution, manufacturing and the public sector, gradually commercializing these solutions in
the "Solutionmax Series".
Hitachi, Ltd., headquartered in Tokyo, Japan, is one of the world's leading global electronics companies, with fiscal 1997 (ending March 31, 1998) consolidated sales of 8,417 billion yen (63.8 billion dollars**). The company manufactures and markets a wide range of products, including computers, semiconductors, consumer products andpower and industrial equipment. For more information on Hitachi, Ltd., please visit Hitachi's Web
site at http://www.hitachi.co.jp.
** At an exchange rate of 132 yen to the dollar.
Key Components of Solutionmax for Finance
Solutionmax for Finance takes the information system base,
sales channel, product, business management and
settlement as strategies which will be important for the financial services industry in the future, and provides seven business sub-solutions adapted for these strategies.
(1) Information System Base Solution
This supports the planning and construction of a system base which efficiently achieves multi-channel and multi product adaptation. Using Hub & Spokes architecture, which flexibly connects every new system developed into
the existing system, users can interlock individual systems such as sales channel, product, marketing and risk management so as to improve convenience for customers and management efficiency. Additional operational functionality and development can be completed in a short period of time.
The baseis "Network Objectplaza," which is a distributed object technology.
(2) Branch and ATM Solutions
This solution supports the planning and construction of a system which strengthens the operations of branch systems and ATMs, and rationalization of back office processing by making use of image processing and distributed object technologies.
(3) Remote Channel Solutions
This supports the achievement of efficient operations via new channels using the Internet and call centers.
In addition to supporting system development at the user company, it supports the efficient expansion of channels through outsourcing via call center services.
(4) Solutions for Financial Products
With advances in technology and deregulation, this solution supports the efficient expansion of the ever increasing number of financial products. This solution continually provides new know-how of business solutions through such means as cooperation with external consulting
companies.
(5) Risk Management Solutions
This assists in the planning and construction of profit and risk management systems based on our integrated profit and risk management system "Chaser" and includes business consultation.
(6) Marketing Solutions
This provides complete support for system planning and construction ranging from the creation of a database needed for marketing, analysis, strategy and tactics development, activity management to information provision, including business consultation.
(7) Settlement Solutions
This efficiently assists in settlement in the network age and intra- and inter-company systematic connections based on services such as Hitachi's Commerce Solutions
and TWX-21.
Shipping dates for main services:
Solutionmax for Finance: Business Solutions and Services
| Business Solutions, Services |
Release Dates |
| 1. Basic strategy: |
| System base solution |
| - HUB & Spokes construction service |
First half of 1999 |
| - Data warehouse construction service |
Shipment from July 1998 |
| - Groupware construction service |
Shipped |
|
| 2. Channel strategy: |
| Branch/ATM solutions |
| - Branch BPR planning service |
Shipped |
| - Branch system construction service |
June 1999 |
| - Integrated image processing system construction service |
June 1999 |
| - Multi-media ATM system construction service |
June 1999 |
| Remote channel solution |
| - Internet banking service |
October 1998 |
| - Internet brokerage and insurance |
Scheduled for first half of 1999 |
| - Telephone banking system construction service |
Shipped |
|
| 3. Product strategy |
| Solutions for financial products |
| - Basic system service |
Shipped |
| - Over the counter mutual funds system service |
Shipped |
| - Fixed premium pension system service |
Scheduled for first half of 1999 |
| - Loan assistance system construction service |
Shipped |
|
| 4. Management strategy |
| Risk management solutions |
| - Industry analysis and planning service |
October 1998 |
| - Market risk management construction system service |
October 1998 |
| - Profit management system construction service |
October 1998 |
| - Credit risk management system construction service |
Scheduled for first half of 1999 |
| Marketing solutions |
| - MCIF*1 construction service |
Scheduled for first half of 1999 |
| - OLAP*2 system construction service |
Scheduled for first half of 1999 |
| - Marketing strategy support service |
Scheduled for first half of 1999 |
| - PR support system construction service |
Shipped |
| - Consultation support system construction service |
Shipped |
|
| 5. Settlement strategy |
| Settlement solutions |
| - Integrated networking service |
Shipped |
| - Validation service |
Shipped |
| - IC card solution |
Shipped |
All price estimates will be on an individual basis.
*1 MCIF: Marketing Customer Information File
*2 OLAP: Online Analytical Processing
WRITTEN BY Secretary's Office
All Rights Reserved,
Copyright (C)
1998, Hitachi, Ltd.
