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Magic Software's AppBuilder to Deploy at Ag Bank of China

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Agricultural Bank of China, the country's third largest lender by assets, selected Magic Software's (NASDAQ: MGIC  )  AppBuilder to develop a new generation of core banking applications that will be deployed at all of its nearly 24,000 banking facilities.

AppBuilder includes more than 20,000 programs and hundreds of thousands of application artifacts allowing developers to build, deploy, and maintain large-scale, custom-built business applications. ABC was able to easily deploy the application across a complex distributed environment containing many disparate technologies, including IBM Mainframe, Microsoft Windows, Cobol, and Sybase.

Arik Killman, CEO of AppBuilder Solutions, said: "Forward-thinking banks like ABC understand that their business is only as good as their underlying technologies. We are proud to be the development platform of choice for ABC and many other leading financial and Fortune 1000 institutions."

Magic Software acquired AppBuilder from BluePhoenix when it bought the company last December for $13.5 million. 

Agricultural Bank of China provides a full range of commercial banking services, including consumer, corporate, and investment banking.


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Rich Duprey
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Rich has been a Fool since 1998 and writing for the site since 2004. After 20 years of patrolling the mean streets of suburbia, he hung up his badge and gun to take up a pen full time.

Having made the streets safe for Truth, Justice and Krispy Kreme donuts, he now patrols the markets looking for companies he can lock up as long-term holdings in a portfolio. So follow me on Facebook and Twitter for the most important industry news in retail and consumer products and other great stories.

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