News

New BPM solution targets financial industry

• By Lana Gates
• February 10, 2003

Dallas-based Fuego Inc. (http://www.fuego.com), a developer of business process management software, last week unveiled Fuego for Banking, the first in a planned series of industry-specific business process management solutions.

This version, targeted to the needs of people in banking and financial services, includes pre-configured templates and technology adapters that allow users to connect rapidly to whatever underlying systems they already have in place.

''The templates,'' explained Rachael Hawkins, senior product manager, ''focus on banks and bankers to get their processes in line and find bottlenecks.''

''You shouldn't rip and replace the applications you already have,'' added Gordon Sellers, VP of marketing. ''We create a supervisory process application that fits on top of the infrastructure you've already invested in. You still use the applications you have, but Fuego controls or orchestrates how they are utilized across the whole process of a loan application, for example.''

Although there have been other attempts to solve integration problems between different applications, they tend to focus on the data level, transforming data back and forth. Fuego took a different approach and noticed three or four things people were trying to glue together themselves that failed to increase their business performance from when they started. Keeping that in mind, the company set out to create a business process management solution that allows organizations to come up with the processes they want, layer in business processes and reuse everything they have already invested in.

Fuego intends to release versions for the healthcare, insurance and telecommunications markets in the near future.