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Anita Bunk
Head of Communications

Innovations Software Technology continues to grow

Strong demand for Innovations products enables us to further increase the number of employees this year in Immenstaad and Waiblingen, Germany; in Singapore; and in the US

04/01/2009 -

Innovations Software Technology continues to grow: Establishing additional branch offices in Waiblingen near Stuttgart, in the US and in Singapore generates 70 new jobs for IT specialists within one year. Currently, 180 employees are responsible for projects at banks, insurance companies, trading firms and in business. Innovations received customer orders for 15 million Euros, which corresponds to a 40% growth compared to last year.

A significant portion of Innovations Software Technology's success is in software solutions for banks and insurance companies. These solutions support financial institutions in detecting money laundering and terrorism financing, as well as in the evaluation of credit risk. In addition to financial institutions, Innovations customers include prestigious trading firms and companies in logistics, health care and energy management.

Innovations helps banks achieve a better risk management

In the last couple of months Innovations has significantly grown its portfolio in financial services. Due to the recent financial developments, numerous banks have put their risk management systems to the test and have invested in new software solutions. In Switzerland and Liechtenstein Innovations expanded its business primarily in combating money laundering. Achim Berger, a Managing Director at Innovations Software Technology, said: "In the past few years banks have become obligated to have tighter control over monetary transactions. Our software enables the early detection of irregularities."

Innovations Software is deployable in many verticals

Innovations technology is applicable to many verticals. The Visual Rules platform constitutes the core product of Innovations ingenuity. This platform enables a fast, high-performance check on recurring patterns and activities. For example, Innovations software can monitor and control up to 1 million bank transactions.

The company is striving to become the leading provider of software platforms for agile, distributed systems. In collaboration with the Bosch Group, which Innovations joined last year, the company will forge ahead with joint projects. Thomas Schmid, a Managing Director, remarked: "The goal is to combine the competences of Bosch with the software technology of Innovations - to profit from the resulting new business opportunities."

Innovations Software Technology was founded in 1997. From its headquarters in Immenstaad/Germany, the company develops complex software solutions for international customers. Since September 2008 Innovations has been part of the Bosch Group, an international leading technology and service provider.