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Magic Solutions for the Finance Industry

For companies in the banking, finance, and insurance industries, business agility, quality of service, and effective, real-time decision making are key elements to their success. Operating in a highly competitive market, finance companies strive to be the first to seize business opportunities, and to stay ahead of their rivals by offering customers unique trend analysis and advanced financial solutions. For this reason, they are characteristically early adopters of new technologies that can automate their processes and enable them to respond quickly and effectively to dynamically evolving market demands.

Magic's smart technology empowers finance companies with the ability to rapidly develop and deploy applications and to integrate data from multiple enterprise systems. By implementing Magic’s forward-looking enterprise-grade solutions, finance companies can achieve fast time-to-market, while ensuring the operational efficiency they need to gain a competitive advantage.

The finance industry needs highly scalable solutions to automatically handle high-volume data processes, which are vital to the smooth running of the entire company or organization. In addition, finance solutions are required to adapt to frequent and often substantial changes in insurance and tax legislation and banking and business regulations.

Magic has a proven history of delivering flexible and powerful business solutions to the finance and HR industries that implement our fresh technological approach, streamlining complexity, while leveraging existing assets to ensure optimum operational efficiency.

For example, AllState Insurance Company, the largest publicly held life insurance company in the US, uses Magic's application platform to manage 1500 financial products worth $20 billion. Also, the entire IT technology base of the Administar Services Group is based on Magic's technology.

Additional leading customers who have benefited from our solutions include:

  • FMRP, the large Canadian insurance group, which improved operational performance using Magic's application and business integration platforms
  • Clinical Financial Services, the Philadelphia-based financial management company, which used Magic's business integration platform to fully integrate its payment processing environment
  • Bank of Cyprus, which used Magic’s technology to integrate Salesforce with Misys Equation™, resulting in a significant improvement to sales workflow efficiency
  • Finanz Informatik, which integrated SAP R/3 and the Remedy ARS service management solution using Magic's business integration platform
  • Heller Bank in Germany, which used Magic's application platform to develop a reporting system that automates the distribution of its correspondence
  • ING Commercial Finance, the leading capital finance company, was able to quickly and cost-effectively develop a new factoring system that could run on their legacy AS/400, while maintaining full compatibility with Windows and browser-based capabilities.
  • Grange Insurance, the US-based insurance company, which used Magic's technology to migrate and upgrade its administration system and to integrate it with back-end accounting and finance applications, without requiring expensive programmers.