New vendor to compete with IBM and BEA Systems for banks’ op risk business

TECHNOLOGY

NEW JERSEY -- GoldTier Technologies, the US-based financial software firm said in August it was looking to compete with technology company IBM and application infrastructure provider BEA Systems in the financial workflow order management systems business. Technology for workflow order management aims to reduce the operational risk posed by fouled and delayed transaction settlement.

Yaron Avitov, GoldTier’s co-founder, estimated that for an institution making 5,000 cross-border equity

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