ABN Amro

ABN Amro protects business critical applications with software escrow from NCC Group

About
ABN Amro is a well established bank within the global marketplace. With over 4,500 branches spread over 53 countries, it serves both consumer and commercial customers throughout the world. For ABN Amro, demonstrating good corporate governance through effective risk management is crucial to building and maintaining the confidence of its global stakeholders and ensuring the ongoing stability of its operations. A key element of ABN Amro's risk management policy is provision for key supplier failure.

Challenge
As a multi-national business which is heavily reliant on technology, ABN Amro depends on a series of complex, custom software applications to deliver real-time information to staff and customers and power its operations.

It is vital that these applications are always available and can be updated and amended immediately, in line with business requirements.

Solution
ABN Amro therefore ensures all business-critical applications are protected under escrow agreements which allow for a copy of the source code to be held by an independent third-party and released in the event that the supplier should become unable or unwilling to support the application, for example through going out of business or being taken over.

ABN Amro has worked with NCC Group - the world's largest escrow provider - for over 6 years to protect its business-critical software applications.

For these applications, ABN Amro utilises NCC Group's most comprehensive escrow solutions which, in addition to holding the source code, test the material deposited and associated files and scripts for readability and completeness to ensure they could be used to achieve a successful re-build in the event this became necessary. This 'Full Verification' testing process involves testing consultants carrying out a full build of the application with the co-operation of the software supplier and documenting the process in an audit report.

A suite of customisable Softek Genesis interfacing adapters were implemented in ABN Amro's London, Amsterdam, Moscow and Chicago offices. These applications receive financial trades directly from external systems (e.g. Reuters). The adapters re-format the trade and forward to the banks internal systems for position keeping, P&L, reporting and confirmation purposes. The Softek Genesis adapter software packages underwent full verification testing during the escrow process.

Result
Andy Howell, (Programme Manager, FX/MM Strategic Middleware), from ABN Amro says: “Our business is built around technology, so ensuring the availability of our key systems is crucial as every second of system down time represents lost revenue. Escrow allows us to manage the risks associated with purchasing software applications from specialist third-party suppliers and helps us to develop long-term, profitable relationships based on trust. We are very happy with the level of professional services provided by NCC Group and trust their advice.”

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NCC Group is a leading global provider of independent IT assurance, security and consultancy services. As a trusted advisor, we help over 15,000 public, private and not for profit sector organisations, including 92 of the FTSE 100, to make the most efficient use of information and technology and to manage the associated risks.

Quote

“Escrow allows us to manage the risks associated with purchasing software applications from specialist third-party suppliers and helps us to develop long-term, profitable relationships based on trust. We are very happy with the level of professional services provided by NCC Group and trust their advice”

Andy Howell, Programme Manager, ABN Amro

Challenge

ABN Amro depends on a series of complex, custom software applications to deliver real-time information to staff and customers and power its operations.

Solution

ABN Amro ensures all business-critical applications are protected under escrow agreements.

Result

Escrow allows ABN Amro to manage the risks associated with purchasing software applications from specialist third-party suppliers