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Weekly UpdatesBluePhoenix Solutions (NASDAQ: BPHX), a leader in value-driven IT legacy modernization solutions, has announced that it has completed a major IT modernization project for Export-Import Bank of the United States ("Ex-Im Bank").
The extensive project, involving the migration of core business applications, associated databases, and their re-hosting from a mainframe platform to a Windows environment, took approximately 9 months to complete. The sizeable resulting reductions in licensing and maintenance costs saw Export-Import Bank realize a return on project investment in 12 months. In addition to reducing operating costs, this project has helped the Ex-Im Bank consolidate database platforms, reduce data redundancy and build a data warehouse, thereby further improving efficiencies for accessing and reporting on mission critical business information and metrics.
The modernization initiative was carried out using BluePhoenix's proven IT modernization methodologies, automated modernization tools and experienced professional services team.
"We are pleased to have worked with Export-Import Bank on this successful IT modernization project," said Yaron Tchwella, CEO, BluePhoenix Solutions. "This is another great example of the benefits of migrating applications in order to leverage valuable business logic, while enabling businesses to dramatically reduce their operational costs."
About Export-Import Bank of the United States
Export-Import Bank is the official export-credit agency of the United States. The independent, self-sustaining federal agency, now in its 75th year, helps to create and maintain U.S. jobs by financing the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export-credit insurance and direct loans. On average, 85% of the Ex-Im Bank transactions directly benefit U.S. small businesses. Ex-Im Bank has supported more than $400 billion of U.S. exports. For more information, visit http://www.exim.gov.
About BluePhoenix Solutions
BluePhoenix Solutions (NASDAQ: BPHX) is the leading provider of value-driven legacy IT modernization solutions. The BluePhoenix portfolio includes a comprehensive suite of tools and services from global IT asset assessment and impact analysis to automated database and application migration, re-hosting, and renewal. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to ascertain which assets should be migrated, redeveloped, or wrapped for reuse as services or business processes, to protect and increase the value of their business applications and legacy systems with minimized risk and downtime.
BluePhoenix provides modernization solutions to companies from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. Among its prestigious customers are: Aflac, Capita Group, CareFirst, Citigroup, Danish Commerce and Companies Agency, Desjardins, Los Angeles County Employees Retirement Association, Rabobank, Rural Servicios Informaticos, SDC Udvikling, TEMENOS, Toyota and Volvofinans. BluePhoenix has 15 offices in the USA, UK, Denmark, Germany, Italy, France, The Netherlands, Romania, Russia, Cyprus, South Korea, Australia, and Israel.
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