SAN DIEGO, Jan. 16, 2007 (PRIME NEWSWIRE) -- Enterprise Information Management software provider Alero Technology announces it is the ECM solution of choice for South Korea's global financial giant, ShinHan Bank. The completed project began when ShinHan Financial Group acquired ChoHung Bank, demanding the transparent merging of two separate IT networks involving the records of 16 million active customers and the need to improve operations efficiency and reduce costs. With the completed project, 90% of South Korea's banking and financial industry use Alero Technology for their information management and data integration needs.
"Merging two completely different financial institutions is a daunting task. It takes a lot of planning, a careful design, a phased implementation based on concrete milestones, and a solid solution based on sound technology," IL Sung Bang, Deputy Manager -- IT Department ShinHan Bank says. "Alero Technology's solutions have proven to be just that."
With Alero Technology solutions being the industry choice in South Korea and the ECM software provider for ChoHung Bank since 2001, Alero software was evaluated and chosen for the project for the creation, management, storage, retrieval and disposition of all documents, including consumer and corporate loans, foreign trading, vouchers, billing and other documents.
"The goal was clear: to provide a one-portal network to meet customers' financial needs and secure ShinHan Bank's position as a leading financial institution in the Asian market place," Maurice Correa, Alero Technology CEO and co-founder says.
Currently, the new system is in full production and is used at all of ShinHan Bank's 970 worldwide branches, processing approximately .7 million documents per day and managing in excess of 45 terabytes of information. With a completely redundant SOA system that is available 24/7, the new ShinHan Bank, has ensured optimal availability and transparency to meet current and future needs.
About ShinHan Bank
Incorporated on September 1, 2001, ShinHan Financial Group Co. Ltd. (SFG) is South Korea's first financial holding company that delivers comprehensive financial solutions through a powerful one-portal network. Their goal is to make continual improvements in their network to meet all of their customers' financial needs and to secure their position as the leading financial service group in Asia. SFG serves more than 16 million active customers with 15,000 employees and 970 network branches nationwide. The company has 21 offices in nine countries, including the U.S., the U.K., Japan, China, Germany, India, Hong Kong, Vietnam and Singapore. Currently, ShinHan Financial Group is listed on both the Korea Stock Exchange and the New York Stock Exchange.
About Alero Technology
Alero Technology is a pioneer in the enterprise information management (EIM) arena and a global provider of software solutions. The company's Alero(tm) products line combines enterprise content integration, enterprise information integration, enterprise content, and business process technologies under a single, uniform solution. Designed to manage any information in a production-level transaction processing environment, Alero Technology's EIM development framework can be integrated and embedded into existing business applications or deployed as complete out-of-the-box solutions, speeding deployment and reducing development costs. The solutions are developed on a J2EE, XML, Unicode and service-oriented architecture (SOA). Alero Technology is a privately held company with headquarters in San Diego, CA. www.alerotech.com