Unisys, a provider of IT services, has announced that its New Zealand subsidiary and PSIS, a financial services cooperative, have signed an agreement under which Unisys will assist PSIS to implement its service oriented architecture service to help PSIS improve the efficiency of its operations and enhance services to its customers.
The four-year contract also includes project management, systems integration and infrastructure services supporting the initiative.
Unisys has said that the service oriented architecture (SOA) is an architectural approach which closely aligns IT infrastructure with business processes by enabling applications to exchange information readily. This approach is designed to allow an organization to respond quickly and cost-effectively to changing market and business conditions, deliver new IT projects faster at a lower cost, leverage existing IT investments and reduce ongoing IT expenditures.
Implementation of a new financial lending module is the first phase of the project, followed by replacement of the core transaction system and implementation of a number of new ancillary systems, added Unisys.