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HP Expands Solution-Integration Offerings With Global Financial Services Industry Solution Centers; New Solution Centers Specialize in Effective Application of Technology as Enabler for Financial Institutions.

NEW YORK--(BUSINESS WIRE)--June 4, 1996--Hewlett-Packard Company today announced the worldwide expansion of its Financial Services Solution Centers, an industry-focused solution-integration practice in HP's Professional Services Organization (PSO).

HP made the announcement here at the Securities Industry Association Information Management Conference and Exhibit.

The Solution Centers, which work closely with HP's Financial Services Business Unit, are chartered to help financial institutions use information-technology solutions to enhance and expand their channels of customer-service delivery, manage risk and automate their trading operations.


The new Solution Centers comprise consultants with extensive experience in applying information technology to the financial-services industry. Solution offerings include information-systems strategy, IT architectural planning, information integration and modeling and infrastructure implementation.

Financial Services Solution Centers consultants work with banks, insurance companies, securities firms and diversified financial institutions throughout the United States. HP is extending the Financial Services Solution Centers into Europe, Australasia and Japan.


The pressures on financial institutions, including mergers and acquisitions; shifting government regulations; global competition; and the emergence of non-traditional competition, are changing the fundamental business practices of financial-services firms. They have been forced to re-engineer business processes, partner with other companies, sharpen customer service, cut costs and bring products to market faster. The global nature of financial services today also taxes traditional centralized systems to deliver the required levels of customer services and risk management. HP believes that in all cases, information technology plays a crucial role.

"We recognized that distributed computing is key to reducing time-to-market and providing better service," said Catherine Kinney, executive vice president of the New York Stock Exchange (NYSE). "We chose HP to help us achieve our long-range objectives because we wanted a partner that could help us find solutions and also offer advanced technologies and a great deal of technical expertise."

"Financial institutions increasingly are searching for partners to help them create new products and services based on open-systems distributed computing," said Paul King, manager of HP's Financial Services Solution Centers. "HP's long-standing expertise in applying technology to solve business problems and a decade's worth of experience in the financial services market make HP an ideal resource and partner for these customers."


The Solution Centers will focus on four main solution areas:

-- Retail Financial Services Delivery -- helps financial

institutions improve customer service and expand into

new delivery channels to reach new customers.

-- Decision-support Solutions -- help financial

institutions manage risk, measure profitability, manage

assets and customer relationships through information

modeling and integration.

-- Business Messaging -- provides financial institutions

with integrated solutions to automate and streamline

the investment process.

-- Security -- helps analyze security requirements and

policies and implements tools and methodologies to

architect and design security for a distributed


HP is currently providing technology consulting and solution integration to financial-services customers Wells Fargo Bank, Wachovia Bank, Citibank and the New York Stock Exchange. Said NYSE's Kinney, "It's imperative that NYSE's trading services reliably be available to the 2,600 NYSE-listed companies and the trading public. Even though we brought HP a number of issues that were very critical to the implementation of our program, HP helped us find solutions."

The Financial Services Solution Centers work in conjunction with HP's Financial Services Business Unit, which includes research and development labs dedicated to creating new products and services for the financial-services industry. The Solution Centers also have access to the technology in HP's product-development advanced technology facilities, giving customers access to HP's world-class technologists.

In addition, the Solution Centers are linked to HP's Internet Consulting Practice, HP's Open Systems Transition Center and the HP Solution Centers that serve the manufacturing and telecommunications industries worldwide. With an emphasis on open-systems distributed computing technology implementation and integration, Financial Services Solution Centers work closely with independent software vendors, hardware vendors and other third parties to provide optimal solutions for financial-services customers.

HP's Professional Services Organization is the leading provider of open, client/server systems integration, technology consulting and education services to businesses in many industries. The company's professional services consultants help organizations apply open-systems distributed computing technologies to meet business challenges in today's fast-changing, competitive environment.

Hewlett-Packard Company is a leading global manufacturer of computing, communications and measurement products and services recognized for excellence in quality and support. HP has 108,300 employees and had revenue of $31.5 billion in its 1995 fiscal year.

Information about HP and its products can be found on the World Wide Web at

CONTACT: Hewlett Packard Company

Sheri Elpern, 408/447-1544



The Hoffman Agency for HP

Lisa Warren-Plungy, 408/447-6928

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Publication:Business Wire
Date:Jun 4, 1996
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