Agricultural Bank of China, China's Third Largest Lender, Chose Magic's
AppBuilder to Develop Major Banking Application
OR YEHUDA, Israel, March 18, 2013
OR YEHUDA, Israel, March 18, 2013 /PRNewswire/ --
Magic Software Enterprises Ltd. (NASDAQ: MGIC), a global provider of software
platforms for enterprise mobility, cloud applications, and business
integration, announced today that Agricultural Bank of China Ltd. (ABC),
China's third largest lender by assets, chose Magic's AppBuilder to develop
its new generation of core banking application (the "BoEing", Blue Ocean
Engineering), deployed at all of its nearly 24,000 banking facilities.
The application built by ABC using AppBuilder is a key component of the bank's
core banking system. The vast application includes more than 20,000 programs
and hundreds of thousands of application artifacts, and took a team of 350
developers two years to complete. AppBuilder's comprehensive application
development infrastructure enabled ABC to easily deploy the application across
a complex distributed environment containing many disparate technologies,
including IBM Mainframe, Microsoft Windows, Cobol, C#_WPF, WSDL, DB2 and
"We needed a robust solution that would support hundreds of millions of
transactions per day and allow us to maintain complete control over the
application development along the way," said Mr.Liang, the BoEing project
manager at ABC. "For large, long-term projects like this, any delay is
extremely costly. Not only did AppBuilder meet our demanding system
requirements, it also enabled us to meet our aggressive deployment schedule."
"Forward-thinking banks like ABC, understand that their business is only as
good as their underlying technologies," said Arik Killman, CEO of AppBuilder
Solutions Ltd. "We are proud to be the development platform of choice for ABC
and many other leading financial and Fortune 1000 institutions."
About Agricultural Bank of China
Agricultural Bank of China Limited ("ABC") is one of the major integrated
financial service providers in China. Capitalizing on its comprehensive
business portfolio, extensive distribution network and advanced IT platform,
ABC provides a full range of commercial banking services, including consumer
banking, corporate banking, investment banking, investment management, global
wealth management, private equity, mortgages, credit cards, foreign currency
deposits, loans, international and domestic settlements and currency trading.
At the end of 2011, ABC had over 395 million retail customers (ranking first
among all large commercial banks), and nearly 24,000 branches. It is China's
third largest lender by assets. ABC went public in mid-2010, fetching the
world's biggest ever initial Public Offering (IPO). As of 2011, it ranks 7th
in the Banker's "Top 1000 World Banks" list in terms of profit before tax for
the year of 2010.
For more information, visit http://www.abchina.com/en/
About Magic Software Enterprises
Magic Software Enterprises (NASDAQ: MGIC) empowers customers and partners
around the globe with smarter technology that provides a multichannel user
experience of enterprise logic and data.
For more information, visit http://www.magicsoftware.com.
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Tania Amar | VP Global Marketing
Magic Software Enterprises
SOURCE Magic Software Enterprises Ltd
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