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Cap Gemini E&Y, WebMethods in financial services marketing deal

Published on .

Paris--Big 5 consultancy Cap Gemini Ernst & Young L.L.P. and Fairfax, Va.-based WebMethods Inc. have entered a pact to develop and market straight-through processing software to financial institutions. The companies will market their offering, which will consist of software and consulting, to investment banks, financial custodians and investment management firms. Straight-through processing is a process that allows Internet financial transactions to take place immediately between banks and other companies without being delayed by non-compatible platforms. While many banks are keen on the concept of straight-through processing, to date most platforms on the market have had limited success.
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