Bank of Ireland Selects Integral for Automated Foreign Exchange Pricing and STP.

Business/High Tech Editors

MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Aug. 5, 2002

Integral, the leading provider of enterprise solutions for capital markets, and Bank of Ireland (BoI), Ireland's leading financial services group, today announced BoI's selection of Integral AutoDealer(TM) to manage all of its internal and branch network foreign exchange pricing and straight-through-processing (STP) of trades.

Integral will provide a central source for foreign exchange rates distribution with connections to appropriate BoI systems to provide instant rate responses. Margins will be applied automatically based upon a number of different factors applicable to various types of FX transactions conducted by the bank. This centralized method for handling exceptions results in a more cost effective and faster service, benefiting both BoI and its customers.

"We chose Integral's solution to streamline our foreign exchange business after evaluating several auto-pricing products on the market," said Lorcan Connolly, Director, Information Technology, Bank of Ireland Treasury and International Banking. "Integral's solution will enable STP for a number of channels, promote price consistency and allow for lower operational risks and costs."

Integral AutoDealer(TM) is based on Integral's open technology platform and is a fully J2EE compliant solution. This allowed the product to be integrated seamlessly into BoI's core technology stack -- Oracle9i Application Server and IBM's MQSeries -- with a minimum of effort. Integral has successful implementations on all three major J2EE certified application servers -- BEA WebLogic, IBM WebSphere and now Oracle9i Application Server.

"Having Integral's financial applications available on Oracle9i Application Server is great news for both current and future Oracle customers in the financial services industry," said Thomas Kurian, senior vice president, Oracle9i Application Server. "With its open and integration-ready architecture, Oracle9i Application Server provides the performance, reliability and security to run all of an organization's mission critical business applications."

Integral's FinXML will define BoI's transactions although the system can support multiple XML protocols. The system, while initially built for foreign exchange, will provide extendibility for new channels of trading such as money markets and derivatives.

"We are excited to be working with Bank of Ireland to automate and integrate their foreign exchange business," said Harpal Sandhu, president and CEO, Integral. "This win is proof positive that in a highly competitive environment, where flexibility to keep pace with changing business needs and the ability to integrate with existing systems are key factors, customers will choose the superior technology solution."

About Integral

Integral's decade of innovation in capital markets technology has revolutionized financial services software development. The Integral Financial Server (IFS) represents the industry's most complete, open platform for the rapid development and deployment of capital markets applications globally using Enterprise Java (J2EE) and related web technologies. The Integral suite of applications includes: Integral MarginMan, AutoDealer, Direct FX and Direct Derivatives. Integral serves 37 of the world's leading financial institutions including: CitiFX, Citigroup Private Bank, Deutsche Bank, BNP Paribas, Mizuho Group, ABN/AMRO, JP Morgan, Hypovereinsbank, Westpac and Royal Bank of Canada. Integral is privately held. Investors include: Accel Partners, ABN/AMRO, AIG International, Bain Capital, Bank of America, CDB Webtech, Ignite Group, Nassau Capital and Pivotal Asset Management. Headquartered in Mountain View, California, Integral maintains sales and services offices in New York, London, Dublin, Singapore and Toronto. For more information, visit www.integral.com.