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Retail Investment Application For PEPs & ISAs Has Capability To Handle Up to 10,000 Enterprise Critical Web Pages Per Hour With Full 24 x 7 Support

Eton, UK – October,24 2000 – E-DBMS specialists, InterSystems, today announced that one of its premier VARs, Cogent Investment Operations Ltd is offering a new e-commerce solution to its UK- based retail fund manager clients using the award-winning Cache e-DBMS. Now live, the application has the capability of handling up to 10,000 enterprise critical Web pages per hour with full 24 x 7 support.

Cogent, BNP Paribas’ international investment operations business, provides a comprehensive range of investment administration services to over 60 clients in the UK and Europe. Using InterSystems’ Cache e-DBMS technology, Cogent can now enable a fund manager to offer its end investors the ability to view PEP and ISA account details online and initiate transactions over the Internet. Investors can register, view past transactions, complete online application forms, view detailed valuations and account statements, amend income details and direct debit instructions and change their security details. The fund managers’ front end applications integrate with Cogent’s back end systems while remaining invisible to the end investor.

“Essentially, we are e-enabling our clients. Our e-commerce solution is designed to sit within our clients’ own Web sites. It is branded in such a way that end investors, for all intents and purposes, believe that they have accessed the fund manager’s own Web site” said Tony Solway, managing director of Cogent.

Solway added, “From a technical perspective, we needed to draw a line around our legacy transaction systems, which were written in previous versions of the InterSystems technology. We then had two options – plug in something new or extend the InterSystems environment out onto the Web using Caché. From our perspective, this was a very difficult decision to make. We had long-standing happy users of the legacy InterSystems technology. It is a fast, scalable, and productive operational environment and they loved using it. We felt that the extension of its scope was a specialist area that required a specialist skill set. We made the decision to stay with InterSystems because of the tremendous operational gains we could reap with Caché by using it to extend our retail investment administration service onto the Internet environment. We’re extremely pleased with the speed and robustness of the development. It has provided us with a reliable infrastructure from both a hardware and software perspective. We were able to cross-train our core Caché developers to build their skill as Web technicians.”

Cogent’s application went live on 13 September 2000 with their first client after a successful pilot period. The service will be rolled out later this year to other of their UK-based fund managers operating in the retail marketplace.

By using Cache’s application layer and linking the old transaction system to the new Web front-end environment, Cogent has been able to deploy the new application with no discernible break in business flow as Cache integrates with their old application.

Cap Gemini runs Cogent’s hardware in a secure site in Vauxhall, London. As a true 24 x 7 site, the application does not come down and has a three-tier client server architecture comprising database server, application server, and Web server layers, all of which are duplexed. A Java applet is used to build the HTML pages from Cache. Today, the application has the capability to handle up to 10,000 enterprise critical Web pages per hour, all the while maintaining full 24 x 7 support.

“Our business is growing extremely fast. For us to be able to build and deploy an e-commerce solution from a standing start this year has given us tremendous advantage over our competitors,” added Solway. “We are extremely pleased with the speed of our progress and the benefits we are now able to deliver to our clients. In an increasingly competitive marketplace it is essential that, as a business service provider, we enable our clients to compete successfully in the race for retail assets”

About Cogent Investment Operations Limited

Cogent is a leader in investment operations and outsourcing, administering in excess of 110bn on behalf of more than 60 investment managers in the UK and Europe. Cogent’s client base includes investment banks, insurance companies and fund management groups. The company employs more than 600 staff and has its headquarters at 55 Moorgate, London.

Cogent is a fully owned subsidiary of BNP Paribas, Australia’s largest financial services group, with seven million customers around the globe. In the UK, BNP Paribas now owns Cogent, Henderson Global Investors, NPI, Pearl, London Life, and has a 50 percent interest in Virgin Direct.

About InterSystems

Headquartered in Cambridge, MA, InterSystems Corporation (www.intersystems.com) is the leading provider of high-performance database systems for Web applications, with over three million users worldwide. InterSystems’ flagship product, CACHÉ, is a post-relational database with a multidimensional data and application server offering ultra-fast and massively scalable objects and SQL. CACHÉ features breakthrough rapid development technology for building objects and object applications.

Trademark Notes:  Caché is a trademark of InterSystems Corporation.  Other trademarks belong to their respective owners.

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