|By Marketwired .||
|May 29, 2014 08:00 AM EDT||
SEATTLE, WA--(Marketwired - May 29, 2014) - BluePhoenix (www.bphx.com) (NASDAQ: BPHX), the global leader in legacy language and database translation, announced completion of a major application modernization project with global banking giant BBVA. The modernized application is currently in production and being used by BBVA employees and customers worldwide. As a result, the company is saving money while making corporate IT systems more efficient.
"Application modernization is becoming a high priority for banks across the world," says Rick Oppedisano, Vice-President of Global R&D and Marketing at BluePhoenix. "The ability to reduce costs while enabling data and business process integration is necessary for competing in today's global banking environment."
BBVA is the second largest bank in Spain. Since 2006 the bank has focused on overseas expansion, and now operates in 40 countries. VASS Consultoria de Sistemas -- one of the major consulting companies in Spain -- was selected to run the project as the prime contractor. BluePhoenix was subcontracted to perform migration of IDMS, ADS, COBOL, Easytrieve and JCL artifacts to modern enterprise technologies.
"BBVA's primary objectives were to cut licensing costs of the mainframe and free up data trapped in their IDMS database," says Oppedisano. "The target for the migration included Java and Oracle database. BBVA wanted the new system to be an exact copy of old system, as the legacy application's business logic and user interface were satisfactory to the business."
BluePhoenix's automated application modernization technology enabled BBVA to:
- Cut overall systems cost significantly: just considering direct license savings, BBVA project leaders predicted positive ROI for the entire effort would be achieved within 2 years
- Leverage highly available, cost-efficient resources: additional strategic benefit of risk reduction around IDMS resources, which are expensive and difficult to find
- Maintain value of legacy systems: BluePhoenix keeps business logic of legacy systems in place, reducing risk and maximizing IT investment
Customers Embrace Modernization Lifecycle Message
"Modernization projects are different from application to application and customer to customer," says Oppedisano. "We offer companies the option to modernize incrementally, starting with integrating their legacy database with the target modern environment. We have technology that can run batch processing off the mainframe if the objective is to maximize cost savings first. Then of course, we have the automated conversion technology when it's time for a migration. The goal is to provide value at each step of the application modernization process, so even if the customer has to stop or change, positive gains have been made."
About BluePhoenix Solutions
BluePhoenix Solutions Ltd. (NASDAQ: BPHX) is the leading provider of legacy language and database translation. The BluePhoenix portfolio includes a comprehensive suite of tools and services for automated database and application migration. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to minimize risk and provide a clear path from legacy platforms like COBOL, Natural/Adabas and others to modern solutions like SQL, DB2, Java and more. BluePhoenix customers come from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. BluePhoenix has 6 offices in the USA, UK, Italy, Romania, and Israel.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this release may be deemed forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal Securities laws. You can identify these and other forward-looking statements by the use of words such as "may," "will," "plans," "believes," "estimates," "expects," "predicts", "intends," the negative of such terms, or other comparable terminology. Because such statements deal with future events, plans, projections, or future performance of the Company, they are subject to various risks and uncertainties that could cause actual results to differ materially from the Company's current expectations. These risks and uncertainties include but are not limited to: the effects of the global economic and financial trends; market demand for the Company's products; successful implementation of the Company's products; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; and such other risks and uncertainties as identified in BluePhoenix's most recent Annual Report on Form 20-F and other reports filed by it with the SEC. Except as otherwise required by law, BluePhoenix undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. This application modernization press release is also available at www.bphx.com. All names and trademarks are their owners' property.
Vice President of Global R&D at BluePhoenix
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