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BPM Implementation in the university
The alliance between the two entities includes the incorporation of AuraPortal BPM technology in the university, its educational use by teachers and the commitment to undertake joint actions of specialized research, innovation and training, oriented towards disseminating and sharing best practices of Business Process Management in banking and insurance industries.
AURA (www.auraportal.com), a global provider of AuraPortal (*) Business Process Management (BPM) software, has announced the signing of a collaboration agreement with the University of Finance and Banking (UFB), one of the most prestigious universities in Eastern Europe.
(*) AuraPortal has been distinguished with great advantage over its competitors by Ovum in its Decision Matrix report and by other renowned analyst firms.
“Within the framework of the agreement signed between the two entities, two important points to mention are the incorporation of AuraPortal BPM technology and its educational use by teachers and students in each of the specialties offered at the Faculty of Banking Management; and the bilateral commitment to create a space dedicated to investigation and innovation, specialized training of the highest standard and the dissemination and sharing of BPM best practices in banking and insurance industries.” says Cristobal Toro, Executive Manager of AuraPortal Eastern Europe.
This agreement allows students undertaking degrees or specialties related to the management of financial institutions, financial systems, Risk Management, economic engineering, regulations and other disciplines offered by the UFB, to learn about the types of management tools, such as BPM, used in real business environments.
The emergence of BPM systems has revealed a new way to manage the compliance of mandatory standards and the adoption of regulations such as Basel II/III, Credit Risk, Operational Risk and Market Risk, using any of the possible methods (Standard, Basic or Advanced IRN, Basic Indicator, VaR, etc.), as well as Slovency II in the case of insurance companies. This adoption and the changes in regulations are made easy as they are perfectly integrated in the business processes of the organization thanks to the BPM tool.
It is proven that working with BPM technology in the financial sector allows the optimization of resources, the standardization of procedures, increased customer satisfaction and great agility and responsiveness to changes in the financial market, especially under the current economical situation.
The University of Finance and Banking is a public institution of higher education, dedicated to training and research in the banking and insurance industries.
Since its founding, the UFB has trained over 8000 students in the different specialties and faculties. The Faculty of Banking Management and several other investigation centers, such as the Intellectual Capital and Change Management Institute (IMCIS), endow the University with sufficient capacity to conduct successful international alliances. They also allow the implementation of research programs in partnership with prestigious institutions such as the Bucharest Academy of Economic Studies, or the Brussels Institute of Studies in International Relations and Public Policy (ISIRP), amongst others.