A European online bank has commissioned a bespoke Internet stockbroking system for the UK.
Comdirect, a subsidiary of Commerzbank, is paying Parity Solutions £700,000 to develop a paperless, secure share dealing system.
Managing director John Glendinning said the company could not simply anglicise software it used for online broking in Germany, France, Spain and Italy because UK stockbroking involved different processes.
"There is a competitor that has tried to anglicise its systems but without much success - there is far from being a European market in this area yet," he said.
Parity is fully integrating back-office functions such as settlement, customer relationship management and accounts with the front-end Web site.
Security and availability is dealt with through 128bit encryption, having two computer rooms live at any one time and a separate disaster recovery site.
The system will use IBM RS6000 S7As with HACMP, Compaq clustered servers running Windows NT, an Oracle database, Cisco networking and Pix firewalls.
Glendinning expressed doubts about the quality of some of the e-business solutions providers who had offered to work with the bank. "A lot of claims are made but the follow-through is not there," he said.