Appendix 1 Statistics of Working Meetings Which Have Taken Place in 3 Continents

Collaborating UBS No. of executives organisations branch Total and technologists

United States 33 34 114 Japan 31 32 75 England and Ireland 25 27 56 Germany 11 12 23

Total 100 4 105 268

355 Appendix 2 List of Companies Participating in the Research Study

UNITED STATES

Citicorp/Citibank Kenneth A. Hines, Senior Vice President and Director of Marketing - Information Business International Citicorp Center, 153 East 53rd Street, New York, NY 10043;

Daniel D. Sullivan, Vice President, Citicorp Technology Office Ken Traugot, Vice President, Citicorp Technology Office 3100 Ocean Park Blvd, Santa Monica, CA 90405

Security Pacific Jack A. Brown, First Vice President and Manager, Image Processing Jeffrey D. Cook, First Vice President and Manager, Telecommunications Arun Ghosh, Vice President and Division Manager, Database Services 333 S. Hope Street, Mail Code H - 39 - 80, Los Angeles, CA 90071

American Express Ken Chrisman, Vice President, New Technologies (Image Processing, Expert Systems) Jon A. Jacobs, Vice President, Card Operations Martha L. Loomis, Director and Assistant Treasurer American Express Tower, World Financial Center, New York, NY 10285- 2920

The Prudential Insurance Company of America AHred P. Spangenberg, Manager, Technology Transfer Center Lisa Winter, Knowledge Engineer Jim Serafino, Knowledge Engineer Scott Petretta, Telecommunications Robert Haber, Telecommunications Information Systems Division, 55 North Livingston Avenue, Roseland, NJ 07068

356 List of Companies 357

Goldman Sachs & Co. Malcolm Draper, Architect, Communications Systems Fred M. Katz, Applications Architect, Equity Sales and Trading Peter T. Hoversten, Vice President, Information Technology David Flaxman, Advanced Technology Group Leo J. Esposito, Vice President, Information Systems Teresa E. Holliday, Vice President, Information Technology 88 Broad Street, New York, NY 10004

Bank of America Peter R. Hill, Senior Vice President, of America Systems Engineering David Dell, Vice President, Communications Systems Jacob Firestone, Manager, Software Engineering Cassius Downs, Systems Manager Andrew Cheng, Artificial Intelligence M. Bowler, Image Systems 1755 Grant Street, 4th Floor, Concord, CA 94520

Chemical Banking David M. Smith, Vice President, Emerging Technologies Jack Tramey, Technology Officer, Emerging Technologies Geoffrey C. Schlakman, Emerging Technologies Ron Shepherd, Emerging Technologies Christine Cooper, Emerging Technologies 55 Water Street, New York, NY 10041

Merrill Lynch DuWayne J. Peterson, Executive Vice President World Headquarters, North Tower, World Financial Center, New York, NY 10281-1220

F. W. Gerbracht, Vice President of Operations, Systems and Telecommunications Neil Ferri, Vice President, Information Systems Maxine A. Glassberg, Systems Manager, Development Support Center Two Broadway, 10th Floor, New York, NY 10080-6010 358 Appendix 2

Great Western Bamk Les Wilson, Vice President, Information Technology C. W. Matthews, Vice President, Communications Services Miguel A. Fernandez, Manager, Systems Architecture Debra Rice, Manager, Enduser Computing James Joubert, Applications Planning 19860 Plummer Street, P.o. Box 2131, Chatsworth, CA 9311

Mellon Bank George Dinardo, Executive Vice President David A. Moore, Senior Vice President, Computer Services Jim Stuber, Senior Vice President, Advanced Systems Development and Technical Environment Planning Three Mellon Bank Center, Pittsburgh, PA 15259-0003

Bankers Trust Dr Carmine Vona, Executive Vice President Ken Moskowitz, Vice President, Financial Planning and Administration Leon B. Smith, Vice President, Technical Architecture One Bankers Trust Plaza, New York, NY 10015

Bear Stearns Kulbushan Karbal, Manager, New Technologies Department Jeffrey V. Nickerson, Vice President, New Technologies Department Richard H. R. Toland, Telecommunications Department 245 Park Avenue, New York, NY 10167

Wells Fargo G. Kevin Omi, Vice President Thomas F. Falce, Manager, Decision Support Denise Eckert, Manager, Advanced Office Systems David Shapiro, Database Manager III Sutter Street, San Francisco, CA 94163

First Boston Shree H. Navkal, Vice President, Information Services Bryan A. Weisinger, Unit Manager, Information Services Richard Griese, First Boston Technologies Tower Forty Nine, 12 East 49th Street, New York, NY 10017 List of Companies 359

Manufacturers Hanover Trust Thomas Campfield, Project Manager, AI Financial Trading, Project Tara (Brief Meeting held at the Conference of the Society of Smart Financial Services)

Chase Manhattan Susan Garavaglia, Vice President and Manager of Technical Research Group (Brief Meeting held at the Conference of the Society of Smart Financial Services)

Inference Corporation Alexander D. Jacobson, Chairman of the Board and CEO Clay H. Chisum, Member of the Board 5300 W Century Blvd, Los Angeles, CA 90045

Bechtel Corporation Patrick J. Harrington, Manager, Computer & Network Operations Dr Ralph E Love, General Manager, Bechtel AI Institute Dr Frank J. Carrigan, Neural Networks, Bechtel AI Institute George A. Polzer, AI Specialist, Bechtel AI Institute George Belonogoff, Information Services Manager, Bechtel Power Corporation Jo Coffey, Knowledge Engineering Technology Applications, Bechtel Group Robert A. Burke, Manager, Communications Projects Kathryn M. Schultz, Manager, Customer Support Ernest Jackson, Systems Co-ordinator for IS 350 Mission Street, San Francisco, CA 94105

Aion Corporation Vaughn G. Hysinger, Vice President, Marketing Operations Peter A. Chargin, Product Marketing 101 University Avenue, Palo Alto, CA 94301 360 Appendix 2

AI Corporation Larry R. Harris, Chairman of the Board Dr Martin Guyote, Knowledge Engineer Ernie Bruno, Regional Manager 100 Fifth Avenue, Waltham, MA 02254-9156

Software International Associates Al Acosta, Manager (Present in the meeting with Lynch, in New York)

Highlighted Data Anne-Marie Barker, Vice President P.O. Box 17229, Washington, DC 20041 (Present in the meeting with the US Department of Education, in Washington DC)

Digital Equipment Corporation Steven Gutz, Director, AI Laboratory Dr Ivan Sipos, Marketing Consultant, Financial Industries 397 Williams Street, PDMI-2/GI2, Box 1018, Malboro, MA 01752-9118

Patrick J. Sweeney, Securities Industry Consultant Robert A. Cohen, Account Manager Two Penn Plaza, Sixth Floor, New York, NY 10121

Intel David Redman, Sales Development Manager 15201 N.W. Greenbier Pkwy, Beaverton, OR 97006

GTE Laboratories Dr Gabriel Jakobson, Associate Director, Computers and Intelligent Systems Laboratory Dr David S. Prerau, Principal Member of Technical Staff, Computer Science Laboratory Alan Gunderson, Intelligent Systems Laboratory List of Companies 361

Sam Levine, Knowledge-based Systems Robert Weihmayer, Senior Knowledge Engineer, Distributed AI 40 Sylvan Road, Waltham, MA 02254

Telenet Eric L. Scace, Director, Standards & Pre-development Technologies Dr Marco V. Vaca, Director, Technical Planning Ramiro Montesdeoca, Vice President, Strategic Marketing Philip M. Walker, Vice President. External Affairs Stuart Z. Chiron, Senior Regulatory Attorney, Regulatory Affairs 12490 Sunrise Valley Drive, Reston, VA 22096

Federal Communications Commission Dr Thomas Stanley, Director, Engineering and Technology Division 2025 M Street N. W., Washington, DC 20554

Lawrence Livermore National Laboratory Dr John E. Ranelletti, Associate Director Dr James R. McGraw, Division Manager, Computing and Mathematics Dr Jane MacFarlane, Knowledge Engineer, Computing and Mathematics East Avenue, Livermore, CA 94550

National Science Foundation (Teleconferencing Interview) Dr William Wulf, Director, US Supercomputer Centers Program 1800 G Street N. W., Washington, DC 20550

Department of Education Dr Sheldon Z. Fisher, Director, Technology Resources Center Dr Paul R. Messier, Senior Research Analyst Marilee Zdenek, Research Associate Research Library, 80 F Street N. W., Washington, DC

University of Maryland Dr Joe Garman, Linguistic Department, College Park, MD (From the meeting at the Research Library, US Department of Education) 362 Appendix 2

University of Southern California Professor Dr Alan Rowe, Professor of Organization and Management Professor Dr Thomas L. Lincoln Dr Lance B. Eliot, Artificial Intelligence Project Campus of University of Southern California, Los Angeles

Carnegie MeDon University Professor Dr Raj Reddy, Director of Robotics Institute Dr Robert H. Thibadeau, Director, Intelligent Inspection Laboratory Wean Hall, Through Street, CMU, Pittsburgh, PA 15213

UBS New York Dr Markus Sulzberger Edward Dunne Srini S. Vasan Howard HiD Paul Eckstein Dr Christian Gabathuler Dr R. Kraenzlin Fred Kubli Georg ZoDer 299 Park Avenue, New York, NY 10171

JAPAN

Dai-Ichi Kangyo Bank ShuDSuke Nakasuji, Assistant General Manager Misaki Tanihata, Knowledge Engineer Kenjiro Nakamuta, Knowledge Engineer Management Information Department, Systems and Operations Planning Division, Tokyo

Sumitomo Bank Noritsugu Hashimoto, Manager, Systems Development Nobuaki Maeura, Knowledge Engineer 3-2, Marunouchi l-chome, Chiyoda-ku, Tokyo List of Companies 363

Sanwa Bank Shoji Sakamoto, Manager, Computer Systems Department 1-I,Otemachi l-chome, Chiyoda-ku, Tokyo 100

Fuji Bank Katsuzo Yamada, General Manager, Systems Technology Susumu Nakano, Deputy General Manager, Systems Technology Otemachi, Chiyoda-ku, Tokyo

Mitsubishi Bank Haruyuhi Okuda, Manager, Planning and Co-ordination Division 2-7-1 Marunouchi, Chiyoda-ku, Tokyo

39 Nomura Research Institute and 40 Nomura Computer Center Takeshi Shinohara, General Manager, VAN Services Takashi Ochiai, Deputy General Manager, Systems Administration Koh-Ichi Shiozawa, Deputy General Manager, Securities Information Systems Masahiro Muroi, Manager, Systems Planning Ryusuke Kiyono, Manager, R&D 28 Yotsuya 4-chome, Shinjuku-ku, Tokyo 160

Mitsui Bank Eiichi Veda, Deputy President, Member of the Board Yukihisa Maekawa, General Manager, Corporate Operations Kunihiko Kashinabara, Vice President, Corporate Operations 1-1-2 Yurakucho, Chiyoda-ku, Tokyo

Mitsubishi Trust and Banking Takewo Yuni, Chief Information Officer 1-5-4 Kita Aoyama, Minato-ku, Tokyo 107

Nikko Securities Intelligent Technology Inc. (lTI) Mitsuru Fuji, Nikko Institutional Services 3-1 Marunouchi 3-chome, Chiyoda-ku, Tokyo 100 364 Appendix 2

Yasumasa Suzuki, Chief Operating Officer, IT! Ken-Ichi Nishimura, Marketing and Sales, IT! 1-13-19 Sekiguchi Bunkyo-ku, Tokyo 112

Kyowa Bank Youchiro Koganezawa, Manager, Planning Department 1-20temachi 1-chome, Chiyoda-ku, Tokyo

Sanyo Securities Shojiro Ono, General Manager, Systems Department 1-8-1 Nihonbashi-Kayabacho, Chuo-ku, Tokyo

Yamaichi Securities Morihiro Matsumoto, Director, Strategic Product Development Operations Wako, 33 Bldg, 29-9 Nihonbashi-Kahigaracho, 1-chome Chuo-ku, Tokyo

DEC Japan Takeshi Wada, Manager, Artificial Intelligence Program Ogawamachi Mitsui Bldg, 3rd Floor, 1-3 Ogawamachi, Kanda, Chiyoda-ku Tokyo 101

IBM Japan Hayashi Horiuchi, Manager, AI Support Program Ote Center Bldg, 1-3 Otemachi, 1-chome, Chiyoda-ku, Tokyo

Nippon Telegraph and Telephone NITfData Communications Systems Corp. (DCS) Masao Kimura, Chief Architect and Executive Manager, Intelligent Buildings Shin-Kasumigaseki Bldg, 3-2 Kasumigaseki 3-chome, Chiyoda-ku, Tokyo 100

Yukio Tanaka, Manager, Financial Systems Division Hiroyuki Fujita, Deputy Manager, Financial Systems Division Nobuaki Mingawa, Research Engineer, Financial Systems Division Yasuo Iwashita, Manager, AI Project, Center for Human Oriented System Technology No. 17 Mori Bldg, 26-5 Toranomon 1-chome, Minato-ku, Tokyo List of Companies 365

Oki Electric Industry Shoichi Abe, Manager, Banking Systems Engineering Department Yuji Matsumura, Assistant Manager, AI Co-ordination Center 10-3 Shibaura 4-chome, Minato-ku, Tokyo 108

Toshiba Teruyuki Takenami, Director, Banking Systems Division Ohsawa Yoshio, Financial Sector Systems Engineering Ishii Satoru, AI Implementation Specialist Dr Kazuhito Haruki, Manager, Systems and Software Engineering Laboratory Ken-Ichi Hosaka, Manager, Intelligent Building Systems 1-1 Shibaura, l-chome, Minato-ku, Tokyo 105-01

Fujitsu Research Institute (FRI) Matsuteru Sekiguchi, Member of the Board of Management FRI Yuzuburo Daito, Senior Researcher, Advanced Information Systems and Economics Minoru Ikeda, Senior Researcher, Financial Systems R&D Group 17-25 Shinkamata, l-chome, Oka-ku, Tokyo 144

NEC Corporation Kotaro Namba, Marketing Manager, Financial Systems Division Toshiaki Gima, , Insurance and Securities Department Mikito Hirata, Systems Engineering Division Yukiko Nomura, Overseas Project, Financial Systems Division No.2 Tamachi Bldg, 14-2 Shiba, 4-chome, Minato-ku, Tokyo

Hitachi Hitachi Computer Consultants Dr Fumihiko Mori, Senior Researcher, Systems Development Laboratory 1099 Ohzenji Asao-ku, Kawasaki-Shi; Haruyoshi Yamanouchi, Manager, Banking Systems Department Hitachi Omori Bekkan, 23-15, 6-chome, Minamiochi, Shinagawa-ku, Tokyo

MIRI/Mitsubishi Research Institute Tetsuo Tamai, Manager, Artificial Intelligence Technologies Department Kosumo Takamatsu, AI Project Manager 366 Appendix 2

Toshihiro Yoshida, AI Project Manager Time and Life Bldg, 3-6 Otemachi, 2-chome, Chiyoda-ku, Tokyo 100

FISC/Center for Financial Industry Information Systems Hiroshi Shimizu, President Shighisa Hattori, Executive Director and Member of the Board Yoshiake Shinhara, Administration and Planning Mitsuo Komori, Manager, Research Division II Makoto Kohriyama, Manager, Security Division Yoshihiro Kido, Research Executive Mr Furuya, Research Executive Arc Mori Bldg, 12-32 I-chome Akasaka, Minato-ku, Tokyo 107

Computer Service Corporation (CSK) CRI/CSK Research Institute Koji Yada, President of CRI Kenui Okamoto, Managing Director, Tokyo Laboratory 3-22-17 Higashi-Ikebukuro, Toshima-ku, Tokyo

Institute for Financial Affairs IFOS Center/ACOM Yoshifumi Ono, Chief Co-ordinator Kazuhiro Kato, Assistant Editor, Information and Education Services Dept Kikuko Konnai, Assistant Editor, Information and Education Services Dept Kazuhiro Isimaru, Assistant Editor, Information and Education Services Dept 19 Minamimoto-Machi, Shinjuku-ku, Tokyo 160

Akihiro Kawasaki, Project Leader, International Futures and Options Simulation Hiroshi Sudo, Researcher, International Futures and Options Simulation Institute for Financial Affairs Inc., IFOS Center/ACOM, 2-15-11 Fujini, Chiyoda-ku, Tokyo 102

AI Center (ICOT and JIPDEC) Takashi Ichikawa, General Manager, Artificial Intelligence Promotion Center Yoshimitsu Hirai, Manager, Open Access Facilities AI Center Kikai-Shinho Kaikan Bldg, 3-5-8 Shibakoen, Minato-ku, Tokyo List of Companies 367

Hosei University Professor Dr Toshiro Terano, Director, Laboratory of International Fuzzy Engineering 3-7-2 Kajino-cho, Koganei, Tokyo 184

UBS Japan Peter Brutsche, Executive Vice President and Chief Manager, UBS Japan Helmut Laska, Regional Logistics Manager, UBS Japan Dr Peter Berwert, Manager, Regional Information Systems Alister Nicol, Head IS Development David Glass, Head, Information Systems, UBS Trust and Banking Patric Connolly, Manager Research, Public Relations and Advertising Jean-Daniel Piaget, Architect/Real Estate Rika Katharyne Yoshioka, Trainee and Assistant, Japan Area Office Yamato Seimei Bldg, 1-1-7 Uchisaiwai-cho, Chiyoda-ku, Tokyo

ENGLAND AND IRELAND

Lloyds Bank Mike Flinder, Assistant General Manager, IT Alan Wix, Chief Manager, Development Centre Alan Happer-Smith, Manager, Contract Development Dr Peter D. Dacre, Manager, Knowledge-based Systems 100 Pall Mall, London SW1Y 5HP

Barclays Bank Peter L. Cloot, Manager, Planning Department Chatsworth House, 66/70 St Mare Avenue, London, EC3A 8BD

Midland Group S. A. Chalmers, Group Systems Director of Information Technology Midland Bank at Poultry, London EC2P 2BX

National Westminster Bank Rob Shepherd, Manager of Research P. O. Box 114, Goodmans Fields, 74 Alie Street, London E1 8HL 368 Appendix 2

Hill Samuel A. C. Reid, Director, Information Systems and Services 100 Wood Street, London EC2P 2AJ

Kleinwort Benson Richard Lewis, Manager, Communications Planning 20, Fenchurch Street, London EC3P 3DB

Allied Irish Bank John Timlin, Corporate Information Systems Executive J. J. Prendiville, Manager, Departmental Systems Bankcentre, Ballsbridge, Dublin 4

Riada and Co. Algemeine Bank Nederland (ABN) Ireland G. David Woods, Chief Executive Officer, ABN Ireland Peter Steinstra, Chief Operations Officer John J. O. McCormack, Member of the Board and Director Credit and Corporate Services Th. J. Bark, Member of the Board, ABN Ireland, and Regional Manager/ Europe of the Parent Corporation Sean MacHale, Member of the Board G. T. Paul Conlon, Member of the Board and Chairman of CIE Frank Shanley, Member of the Board and Managing Partner Riada and Co., Stockbrokers ABN Ireland, 121/122 St Stephen's Green, Dublin 2

Bernard Enright, Manager Information Technology Riada & Co., 28/29 Grafton Street, Dublin 2

The International Stock Exchange William F. Hopkins, Director, Information Technology Dr Peter M. Bennett, Director Strategic Engineering (the Research Division of ISE) Peter K. Giles, Head Advanced Technology Alan R. Newlands, Strategic Engineering Unit 27 Finsbury Square, London EC2N IHP List of Companies 369

APACS J. Michael Williamson, Deputy Chief Executive and Director, Research and Planning 14 Finsbury Square, London EC2A IBR

Marks & Spencer Financial Services R. S. Platt, Financial Controller P.O. Box 210, Chester CHI IDS, England

Mercury Asset Management Group Services Ltd (Warburg) Gordon Lindsay, Director of Technology 33 King William Street, London EC4R 9AS

Reuters P. A. V. Mannix, International Technical Manager E. Michael King, Technology Expert 85 Fleet Street, London EC4P 4AJ

AI Corp. UK Clifford I. Spitz, Managing Director Geoffrey Smith, Customer Support Manager AI Corp. Ltd Station House, 1 Harrow Road, Wembley, Middlesex HA96DE

Arthur Anderson Consulting Simon Spirgel-Sinclair, Manager, Technology Dawn Smith, Banking Services 2 Arundel Street, London WC2R 3LT

Coopers & Lybrand Ian L. Briggs, Manager, AI Consulting Plumtree Court, London EC4A 4HT

Logica Cambridge Limited Dr Robert Worden, Managing Director Betjeman House, 104 Hills Road, Cambridge CB2 ILQ 370 Appendix 2

Touche Ross Management Consultants L. D. C. Rees, Partner Jonathan L. Killin, Expert Systems Specialist Frank R. Hickman, Expert Systems Specialist Hill House, 1 Little New Street, London EC4A 3TR

Deloitte, Haskins and Sells Dr Gordon R. Clarke, Manager, Information Technology Group P.O. Box 198, Hillgate House, London EC4M 7PL

Data Logic Dr R. J. Burford, Technical Director Alan Bellringer, Group Manager, Advanced Techniques Ian Reid, Consultant Sarah Aylward, Account Manager, Financial Systems 69 Leadenhall Street, London EC3A 2AD

IBM United Kingdom Dr Vyv Turner, Manager, Knowledge-Based Center Peter R. W. Cox, Marketing, Banking Branch Hursley Park, Winchester, Hampshire S021 2JN

DEC Europe Dr Richard F. Mischak 190 High Holborn, London WI

INMOS Ltd Steven Ericsson-Zenith, Technologist, Architecture Group Steven Burns, Product Marketing 1000 Aztec West, Almondsbury, Bristol BSl2 2SQ

Marks & Spencer R. S. Platt, Financial Controller Chester X, CH99 IDS List of Companies 371

UBS Phillips and Drew UBS London H. R. Wolfensberger, Area Director of Logistics and Administration Urs Bryner, Director of Information Technology T. Lowman, Head of IT, UBS Branch K. Edgington, Equities User Representative, Head Divisional Logistics P. Sowray, Debt User Representative M. Harvey, Development Team Debt Bradley Cole, Client Support Rod Rodrigo, Assistant to Mr Bryner Box. No. 428, 122 Leadenhall Street, London EC3W 4QL

WEST GERMANY

Deutsche Bank Friedheim Hesse, First Vice President, Director Computer Operations Helmut P. L. Schnitzer, First Vice President, Director Organization Department Stuttgarter Strasse 16-24, D-6236 Eschborn (Taunus)

Dresdner Bank Helmut Kuerzdoerfer, Manager, New Technologies Alfred Groll, Manager, Telecommunications luergen-Ponto-Platz 1, 6000 Frankfurt 11

Bank fur Gemeinwirtschaft Eva Goeritz, Manager, Distributed Information Systems Kurt Theurer, Organization Department Theaterplatz 2,6000 Frankfurt 1

Kundenkreditbank Franz Theodor Lenz, Branch Manager (personal interview) Zeil44, 6000 Frankfurt 1

Mr Gruendl, Data Processing Manager (telephone interview) P.O. Box 4911, 4000 Duesseldorf 1 372 Appendix 2

Betreibswirtschaftliches Institut der Deutschen Kreditgenossenschaften (BIK) Hans-Joerg Christ, Product Development Am Platz der Republik (im Hause DG Bank), 6000 Frankfurt 1

Post Bank Dr Reinhold Echter, Director of Commercial/Marketing division Dr Heinz G. Schild, Advisor on Development and Innovation to the Bundespost Bank Bundesministerium fur das Post-und Fernmeldewesen, Heinrich-von• Stephan-Str. 1, Bad Godesberg, 5300 Bonn 2

Bayerische Hypotheken-Bank Dr rer.nat. Karl-Rudolf Moll, General Manager, Organization and Computers Arabellastrasse 12, 8000 Munich 81

Bayerische Vereinsbank Dr Eberhard Rauch, General Manager, Organization and Information Systems Sederanger 5, 8000 Munich 22

Institut fur Organisationsforschung and Technologieanwendung (lOT) Dr Stefan Sorg, General Manager Kaestlenstrasse 32, 8000 Munich

Telenorma Dr Klaus Autenreitb, Manager of Software Development Kleyerstrasse 94, 6000 Frankfurt

Siemens AG Walter V. Pattay, Chief Engineer, Telecommunications Egon Bohlaender, Manager, Systems Group, Communications Networks Clemens M. Wieseotte, Department Head, Artificial Intelligence Eckart J. Schroer, Sales Engineer, UBS Germany Account Roedelheimer Landstrasse 5-9, 6000 Frankfurt 90 List of Companies 373

Peter Wuesten, General Manager, Data Systems Division Dr Peter Mueller-Stoy, Director Information Technology Dieter E. Nebendahl, Co-ordinator, Expert Systems Development Dr Peter G. Moeckel, Deputy Director, Corporate Research and Technology/Image Processing Otto-Hahn Ring 6,8000 Munich 83

UBS Germany Mr von Scheliha, Director of Information Technology Postfach 10 20 63, 23 Landstrasse, 6000 Frankfurt/Main 17 Index

accidents, automobile 42, 258, 273 Association for Payment Clearing ACE 285 Services (APACS) 135-40 ACLASS (Automatic Message- ATRANS 317-20,321,330 Classification Software) 320 Audit Personnel Scheduler 274-5 acquisitions 35, 250 auditing 55-6, 220, 274-8 Advanced Expert System 88 Austrian Savings Bank 254 Advanced Systems Group (ASG) Authorisers' Assistants 6, 39-41, 230-6 69-70,88 Automated Lobby Information System Advanced Technology Group (ALIS) 244 (ATG) 53-5 automated teller machines (ATM) 238, Advanced Telecommunications 243 Research (ATR) Institute 75, automated trading 69, 70 324-5 automatic numbering and inquiry advice qualifiers 249 115-16 Advisory jHelp Desk expert automatically translating telephone system 133, 303 system 324-5 AEditor 44 Aetna Insurance 43-4 backoffice 238, 286-90 agricultural loans 252-4 coordination with frontdesk 290-3 AI, importance in banking 4-8 BACS (Bankers' Automated Clearing AI Center, Japanese 75, 108-10, 353-4 Services) 138, 142 AI dedicated user processor (AIjDUP) balance sheet analysis 200-5 323 Banca Nazionale del Lavoro 157,300-2 Air Force, US 352-3 26, 47-8, 50-3, 60, air traffic controllers 339 288,297 Allied Irish Bank 132-3, 264, 303 learning from AI experience 164 Alvey Project 126 Lending Advisor 50-1, 66 America, Bank of see Bank of America Letter of Credit Advisor 197-8,292 American Express 26,41-2, 124-5 Bank of Bilbao 152 Authoriser's Assistant 6, 39-41, Bank of England 121 231-6 Bank fUr Gemeinwirtschaft 154 AMTS expert system products 322-4 Bank ofIreland 133 ANDES 118, 251-2 Bank of Tokyo 79 annuities 180 Bankers Trust 62-3, 209 Annuity Consultation System 186, 187 Bantec 288-90 ANSER 117, 179,245-6 Barc1ays Bank 129,211-12,232,273 AOS (Automated Operations staff housing loans 223-4 System) 303 Barra 142 APACS (Association for Payment Bayerische Hypotheken Bank Clearing Services) 135-40 (Hypobank) 157-9 arbitrage/anomaly switching 134 Bayerische Vereinsbank 157, 158, Architectural System Planning and 159-60 Development 130 BBN Laboratories 268, 269, 270 Arthur Anderson 186,210,232,241 Bear Sterns 224, 225 'assistant to' approach 169-75 Bechtel Institute 297 see also Authorisers' Assistants Behavioural Scoring 123-5

374 Index 375

Belgium, General Bank of 308, 319-20 CIM (computer-integrated Bennett, P. M. 143, 276 manufacturing) 34, 74,241-2 Best Planner 83, 176-8 Citibank 26, 32-4, 60, 98 Betriebswirtschaftliches Institut der APACS 136, 137 Kreditgenossenschaften (BIK) backoffice 238; coordination with 155-7 frontdesk 291 Bilbao, Bank of 152 CIM 242 BISON (Branch Information System closure of trading operations 242, Online) 159 260 bombs, flying 162 credit cards 231, 232 Bond Analysis 113 KKB 147,149 Bond Issue Support 113 PCs 13 Bond Selection for Underwriting 82-3 planning system 74 Born, G. 121 signature recognition 160, 288 BRAAD 289-90 telex payments 308 Briggs, I. 264 CitiExpert 33 builder bonds 180 Citimax 184 Bundespost 150 claims assessment 258 business meetings planning 334, 339 clearing, expert system for 59 BZW 273 client profile analyser 167, 168, 170-2, 227-9 CLSB (Committee of London and Caisse d'Epargne 222, 223 Scottish Bankers) 136, 144 California Data Network (CON) 50 CMU (Carnegie Mellon capital asset expert system University) 299, 325, 338 (CASES) 302 Cognitive Systems 317,319,320 car accidents 42, 258, 273 commercial lending 194, 195 Carnegie Mellon University common stocks 181 (CMU) 299, 325, 338 common systems 36, 130 case-based reasoning 266-7 see also integration cash dispensers 243 communication 23 CBT (computer-based training) 340, Communications Edge 334, 339 342-7 community intelligence 22 CD-ROM company operated and maintained computer-based training 345-6 networks (COAM) 308 part number inquiry 115-16 comparative negligence 42, 273 Center for Financial Industry compliance 30-1, 273 Information Systems (FISC) 80, Barclays Bank and securities 105-8, 120 dealers 129 certificate control 59 Salomon Brothers 71 certificates of deposit (CD) 180 computer-based training (CBT) 340, CHAPS (Clearing House Automated 342-7 Payment System) 138-9, 142 computer centre, AI assistance to Chase Manhattan 71-2 300-3 Check Card Policy Committee 138 computer-integrated manufacturing Checker of Purchasing Orders for (CIM) 34, 74, 241-2 Consistency 43, 299 consumer lending see credit; lending Chemical Banking 26, 53-6, 157 advisors; mortgages; personal loans Forex auditing 31, 55-6, 272 contrarian policy 336, 354 security auditing 56, 309 convertible bonds 180 cheque handling 42, 288-90 Coopers and Lybrand 216,264-8 Child Committee 135 Corporate AI expert system 130 Chorafas, D. N. 95, 144, 260, 354 Corporate Banking expert system 130 376 Index corporate bonds 180 Database Service Industry Association corporate decision rooms 118-19 (DINA) 1I0 corporate lending 194,205-1I databases 303-7 corporation tax 269 consolidation 131 cost control 35 growth 60 cost curve 15-17 lending and 203-4; credit creditworthiness 212-13 Chase Manhattan 71 management 64 Hypobank 158 public llO letters of 197-8, 291-2 Davies, J. 125 Marks and Spencer 123-4 DCS (Data Communications Systems Wells Fargo 66 Corporation) 117-18 see also lending dealers, training for Forex 334-8 credit cards 130 DEC (Digital Equipment Authorisers' Assistants 6, 39-40, Corporation) 73-4, 242 230--6 Expense Control 73, 275--6 Diamond Credit 78-9, 81, Ill, 124, fault finders 298, 299 225-30 Japan 112-13 Midland Bank 130 Loan Advisor 73-4, 215 see also American Express training for knowledge credit scoring 72, 78, 213-14, 228 engineers 349 Credit Suisse 157 decision support systems (DSS) 64 Credit Transfer clearing systems 138 decision trees 229-30 creditworthiness 211-14 delinquent accounts 220 cross-fertilisation 47 DEMOS 241 CSK Research Institute (CRI) 11I-12, Department of Education, US 340-2 244-5 Department of Health and Social cultural change 13-14 Security (DHSS) 277...fO culture, German banks and 158, 160 Deutsche Bank 151-2 Currency Clearings Committee 138 Diamond Credit 78-9, 81, Ill, 124, curriculum for knowledge 225-30 engineers 349-52 Digital Equipment Corporation see customer interface 276 DEC customer profile analyser 167, 168, Di Nardo, George II 170-2, 227-9 Diners Club 231 customer-processed forms, direct debits 139-40 handling 59 Discovery 305--6 Customer Services expert system 52 divisionalisation 63, 65 DKB Group 97-8 see also Dai-Ichi Kangyo Bank Dai-Ichi Kangyo Bank 60,96, 97, 98, domain experts 4 99-101 cross-fertilisation 47 Loan Expert 99, 100,216 development of expert systems taxation 262 by 354 Daimler Benz 154 lending 199 Data Communications Systems taxation 266 Corporation (DCS) 117-18 training and 339 Data Logic 249, 273 Dow Jones Information Systems 30 data processing see DP DP, classical database computers 26, 66--8 compared with human window 21-2 Database Directory 110 operations 286-93 Database Promotion Center DP centre, AI assistance to 300-3 (DPC) 1I0 Dr Nenkin 99, 187-8 Index 377

Dresdner Bank 151, 152-4 FISC (Center for Financial Industry DRESS 241 Information Systems) 80, 105-8, Dube, Jiirgen 11 120 earnings, estimation of 174-5 flying bombs 162 EDGAR database 210 Ford Motor Company 17,286 Education, US Department of 340-2 foreign exchange (Forex) 46 EFT/POS 6, 138, 139,239 American Express 41 Electronic Country Club Dealing auditing 31, 55-6, 272 (ECCD) 41,236 Midland Bank 130-1 Electronic Data Interchange Security Pacific 37, 38-9 (ED!) 137-8 training for dealers 334-8 Electronic Funds Transfer (EFT) form identification and filing 115-16 238-9 formalisation of information 205-6 see also EFT/POS France 222 electronic mail 119 franchising 241 electronic messaging 33, 71-2, 129, fraud 308-32 control 31 electronic tellers (ET) 243-7 detection 37, 232-3, 249, 274, 302 end user, expert system development frontdesk/backoffice and 20-4, 162-3, 250-1 coordination 290-3 England, Bank of 121 FSA (Financial Statement entropy 236 Analyzer) 30, 210-11 equity valuation 185-92 Fuji Bank 87,89-90,96, 190 EQUUS 134, 184-5 Fujita, M. 236 ERMA project 288 Fujitsu 113-14 ESCORT 293-7 functionality 28-9 European languages, translation fund management 185-92 of 328-32 future options dealing support examinations, JIPDEC 109-10 system 83 EXCORE 327-8 Fuyo Group 86-7 expense control 73, 275-6 see also Fuji Bank; Yamaichi experience, expertise and 267 Securities Expert Configura tor (XCON) 299 fuzzy inquiry 116 ExperTAX 264-8 fuzzy sets 34, 182, 207-8 EXTEL 150 Gemeinwirtschaft, Bank fUr 154 Gemini Help Desk 44 face lifting 236 General Bank of Belgium 308,319-20 false system 306-7 General Electric 288 Famicom 179-80 gilt selection 183 fault finding 38,293-300 gilts and equities dealing 133 Feigenbaum, E. 11, 145-6, 164, 234 Ginnie Maes 180 Fidelity Brokerage Services 169 Global Risk Managment 338 5th generation languages (5GL) 17, 20 Goldman Sachs 26,47-50 filtering system for information 276 golf course development 251-2 financial performance, technological Great Western Bank 26, 53, 56-7 leadership and 48 mortgage loans 9,224 Financial Research Institute 79 project management 284-5 Financial Statement Analyzer GTE Laboratories 73, 305 (FSA) 30, 210-11 Finland 253 Finsbury Data Services 325 handholding 199 First Boston 48 Hattori, S. 105, 106, 107 378 Index health information 256 Prudential Insurance 43 Health and Social Security, Department Security Pacific 35-6 of (DHSS) 277-8 income tax 263-4 help constructs 338 Individual Retirement Account Help Desk (IRE) 176 Allied Irish Bank 133, 303 Industrial Bank of Japan 96 Citibank 33 industrial visits 339-40 Great Western Bank 57 inference 348 IEFCARES 303 Inference Corporation 39 Lloyds Bank 127-8, 333 information, exploiting for lower Merrill Lynch 59,303 risk 205-1I heuristic inferencing 348 information crimes 282 HICATS/EJ 326-7 information filtering system 276 Hill Samuel 134 information services 61-2 Hitachi 1I4-15, 186 inheritance mechanism 185 automatic numbering and inheritance tax 261-2,263 inquiry 115-16 innovation 29-30 Kasumi supermarkets 239,240 return on investment 17-19 language translation 326 insurance underwriting 254-60 loan expert systems 206-7, 221 see also Underwriter's Assistant reinsurance 258-60 Integral 25 88 taxation 261-2 integration 215-16 human window common systems 36, 130 classical DP queries compared database 131 with 22 Japanese banks 80 lending 195,200-2,225 Integrative Bond System (IBS) 87 hype lo-lI, 123, 125 Intellect human interface 37 Hypercard 341-2 intelligent buildings 1I8 Hypobank (Bayerische Hypotheken Intelligent Database Assistant Bank) 157-9 (IDA) 73, 305 intelligent optical character recognition IBM 49, 241, 302-3, 306 (I/OCR) 246-7 CASES 115, 302 Interactive Simulation 343-5 European banks 163-4 Interactive Stock System (ISS) 87 Japan 116-17,258 Interactive Videodisks 345, 346 retailers 240 Interbanking Committee on Expert IBRO (Inter-Bank Research Systems Implementation 106, 107 Organisation) 136 Internal Revenue Service (IRS) 268-72 ICL 298 International Stock Exchange ICOT (New Generation Computer (ISE) 121, 135, 140-4,273-4,276 Institute) 75, 108 intrapreneurial approach 24, 25 ICOT-JIPDEC AI Center 75, 108-10, investment advisors 33, 147-9, 167-92 353-4 investment in expert systems, return IDA (Intelligent Database on 17-20 Assistant) 73, 305 Investors Express 169 IEFCARES (Information Engineering Ireland, Bank of 133 Facility/Customer Response Expert System) 303 Japan image processing/imaging 9,26 bank sizes 96 American Express 41,236 credit card business 226-7 Bank of America 52-3 government and AI culture 108-10 Chemical Banking 55 language translation 324-8 Great Western Bank 56 technology usage 75-81,97, 107-8 Index 379

Japan Development Bank 79 life insurance 254-8 Japan Information Processing Develop• Lincoln Insurance 256-7 ment Center (JIPDEC) 108, 109 LLNL (Lawrence Livermore National ICOTjJIPDEC AI Center 75, Laboratory) 278-81 108-10, 353-4 Lloyds Bank 127-9, 241, 333 Japanese Agency for Industrial Science Lockheed 31 and Technology (JAIST) 108 Logica 276, 277 journalisation of loans 218-19 Long Term Credit Bank of Japan judgement, credit and 227 (LTC B) 204 Julius Baer Bank 203 Lufthansa 154-5

Kasumi supermarket chain 239 MACH 250 Keogh investment plans 176 Machine Translation and Analysis of Kleinwort Benson 134 Natural Language knock-out criteria 250-1 (METAL) 329-32 knowledge-based technologies, benefits Magnetic Ink Character Recognition from 13-17 (MICR) 288 knowledge engineering, compared with maintenance cost reduction 20 system analysis 46-7 management, expert system knowledge engineers 4 implementation and 147, 160-1, training 347-54 198-9 knowledge refinement 181-2 management in IT 85-6 Kondo, Y. 75 man-machine interaction 200-2 Kreditgenossenschaften 155-7 man-machine interfaces 37, 52 Kundenkreditbank (KKB) 33, 145, Manufacturers Hanover Trust 73, 94 147-9 manufacturing 73-4, 241-2 Kwast, H. S. van der 260 marketing 239-42 Kyoei Life Insurance 79 Marks and Spencer 121, 123-7, 232 Kyowa Bank 99, 103-4 Massachusetts Indemnity and Life Insurance Company Laboratory for International Fuzzy (MILlCO) 257-8 Engineering (LIFE) 75, 88, 108 Massachusetts Mutual Insurance LAN Monitor expert system 297 Company 346-7 language translation 324-32 MATIAS 253-4 LASC 306-7 McCorduck, P. 164 Lavoro, Banca Nazionale del 157, McDonalds 242 300-2 MCI International (MCII) 322 Lawrence Livermore National medical information 256 Laboratory (LLNL) 278-81 Meiji Life Insurance 79 leases, acceptance of 247-50 Mellon Bank 19,26,49, 59-62,212 lending advisor 193-214 134 agricultural 252-4 mergers and acquisitions (M&A) 250 Bank of America 50-I Merrill Lynch 49, 57-9, 303 Bardays Bank 129,223-4 messaging, electronic 33, 71-2, 129, corporate 194, 205-11 308-32 DEC 73-4 Messerschmitt B61kow Blohn decision layers and private 215-36 (MBB) 154 Dai-Ichi Kangyo Bank 99, 100, 216 METAL (Machine Translation and Wells Fargo 66 Analysis of Natural see also credit Language) 329-32 letters of credit 197-8,291-2 Midland Bank 130-1,297, 334 LIFE (Laboratory for International MILICO (Massachusetts Indemnity and Fuzzy Engineering) 75, 88, 108 Life Insurance Company) 257-8 380 Index

Mindprober 334 Nikko Securities 81, 83-4, 114, l33, MIRI see Mitsubishi Research 333 Institute Best Planner 83, 175-8 MIT! 110 NINA 285 Mitsubishi Bank 81-3,96, 230, 232 Nippon Life Insurance 256 Bond Issue Support 113 Nishi-Nippon Bank 261-2 electronic messaging 309 Nissan Motors 115-16 fund management 186 Nomura Research Institute (NRI) Ill, underwriting 160 239 Mitsubishi Electric 285 Nomura Securities 113, l33, 178-80, Mitsubishi Research Institute (MIRI) 274-5 corporate loan advisor 209 Norinchukin (Agricultural) Bank 96 Diamond Credit 111,225-30 normalisation of information 205--6 Investment Advisor 171-2 NTT Data 117-18,241,245,247,324 taxation 262-3 ANDES 251-2 Mitsubishi Trust and Banking balance sheet analysis 204-5 (MTB) 81,84-6 Mitsui Bank 99, 102-3 Office of Educational Research and electronic messaging 309 Improvement 340--1 ESCORT 293-7 Officevision 49 loan expert system 2l3-14 OKI Electric 118-19, 285, 327 M&A 250 Okobank 252,253-4,260 Mitsui Group 99 Olivetti 300 Money Lending expert system 129, Open House, AI 108-9, 353 223-4 optical character recognition (OCR) see also lending advisor 288 Money Market Operations l33 OS/2 49 Monitor Directory Project 276 OTT Trading System 83, 333 Morgan, 1. P. (Bank) 157 Outpatient Pre-Certification Protocol Morgan Stanley 48,69-70 44 mortgages 58,222-5 municipal bonds 180 Pacific Stock Exchange 5 mutual funds 181 parts retrieval 115-16 Passport 91, 94, 95, 169 pattern recognition, investment advisors NASA 108 and 191 National Westminster Bank (NatWest) patterns of usage, credit card 231-2 l31-2, 334, 341-2 payment receipt and balancing 219-20 NEC 118-19,246 payment systems 127 language translation 324, 327 British l35-40 loan expert systems 207-8, 209 Payroll and Personnel Management 51 Nederlandse Middenstand Bank PCs (personal computers) (NMB) 247-9 see workstations negligence, comparative 42, 273 PENSEE 327 networks, security and 282 pension advisors 43, 186-8 neural networks 34, 182 personal loans 215-21 Neuro-Fuzzy System Institute of France see also lending advisors 108 personnel management 37, 51 New Generation Computer Pesenti, C. 340 Institute see ICOT Peterson, D.l. 36, 57 New York Life 257 PIVOT 327 night processing of telexes 314-15, 316 PKBanken 200, 202 Nii, P. 164 planning, DEC's expert system 74 Nikko-Barra 142 platform banking 19-20 Index 381

Plumpicker 70 investment advisors and 183, 184 point of sale (POS) terminals 239 Risk Management Committee 80, 106 see also EFT/POS Royal Bank of Scotland 297 portfolio management 90, 134, 185-92 rulebooks, automation of existing portfolio theory 188 146--7 positioning of banks IO-II,47 possibilistic approaches 190 SAFE 322-4 possibility theory see fuzzy sets sales trends 240-1 Post Bank 150-1 Salomon Brothers 70-1 preferred stocks 181 Sanwa Bank 96, 102, 186, 188 Prets Conventionnes 222, 223 Sanwa Group 98 printed circuit boards 298 Sanyo Securities 90-5, 169 product development 29 scheduling expert system 239 product matching 241 Seafirst Bank 72 product pricing 74 SEAQ 141-2 programming 339 securities assistant 33 project management 284-6 Securities Association, The (TSA) 121 PROMPTER 285-{) Securities and Exchange Commission Property and Casualty Advisor 42, 277 (SEC) 30, 71, 210 Prudential Insurance Company 26, 31, Securities Investment Board (SIB) 121 42-3, 273, 277 securities traders, training for 337-8 checker of purchasing orders for security 278-83 consistency 43, 299 database 305-7 cheque handling 42, 288-90 messages 324 public companies, investment in 172-3 security auditing expert system 56, 309 public databases 110 Security Pacific 26, 34-9, 62, 274, 288 Security Pacific Automation Quality Assurance Checker 298 Company 36--7,62 Quotron 143 self-service banking 90 see also automated teller machines radar charts 92-3, 196--7 Seven-Eleven supermarket chain 239 RAROC (risk adjusted return on Share Shops 133 capital) 209 Shearson Lehman 48, 175 reading ratio 313-14 Shimizu, H. 105, 106 real estate 37, 51-2, 250-2 Siemens 250, 328, 329 recognition rules 312 signature verification 57 reconciliation 273 SIRNIS (Sanyo Investment Research Recoveries Analyser 129, 232 New Information System) 90-5 Reed, J. 242 small business loans 193-4 reinsurance retention 258-60 SMART FS (Society for the Manage• Repository 60-1 ment of AI Resources and Tech• research institutes, Japanese 110-l2 nology in Financial Services) 45 retailing 239-41 sophisticated investors 180-5 return on investment (ROI) 17-20 sophistication of expert systems 30, 31 Reuters 142, 143, 276, 299-300, 325 speech recognition 325 reverse engineering 20 spreadsheets, balance sheet analysis with Riada Securities 133-4, 183-4, 263-4 200-5 risk 50 staff housing loans 129, 223-4 control 139 standardised estimate momentum 175 exploiting information for lower standardised unexpected earnings 175 205-II Steinmann, H. 95,260 global management 338 stock selection 93-4, 114 insurance underwriting and 254-6, store management 239-40 260 substitution, ROI and 17-18, 20 382 Index

Sumitomo Bank 96,98, 101-2,200 Travel Related Services (TRS) 42,232, TEXPERT 113, 309, 310-17 235 Sumitomo Group 98 Travellers Insurance 46 Sumitomo Marine and Fire trouble shooting 38, 293-300 Insurance 207 TRW Information Services 305-6 supercomputers 52, 77 TSA (The Securities Association) 121 suspense journals 219 TTl 32 SWIFT 308,308-9,322 TURBOJET 257-8 Swiss Bank Corporation 152 Turing test 145 Swiss Reinsurance 254 system analysis, classical, compared with Uccel Corporation 244 knowledge engineering 46-7 uncertainty 23-4 System Engineering and Programmers' / see also risk Analysts' Examinations 109-10 Underwriter's Assistant 43, 273 systems development documentation Union Bank of Switzerland (UBS) 8 expert system 56, 284 unit trusts 181 United Kingdom Taiyo Kobe Bank 99 payments system 135-40 Tarnai, T. 236 technology usage 121-3, 126-7 taxation 51, 133, 261-72 United States Technical Analysis and Reasoning Air Force 352-3 Assistant (TARA) 45-6, 73 tax reform 269, 270 Technical Environment Scanning technology usage 26-32 study 59-60 user, expert system development Technology Resources Center 341 and 20-4, 162-3, 250-1 technology utility stocks 181 growth and sophistication 11-12 usage: Germany 145-6; VI (flying bomb) 162 Japan 75-81,97,107-8; voice recognition 66 UK 121-3, 126-7; US 26-32 Voice Twin 246-7 telephone system, automatically translating 324-5 telex 71-2, 308-32 Weeks, L.G. 46 tellers, electronic 243-7 Wells Fargo 50, 63-8 Teradata 66-8 Wesbank 211-12 Terano, T. 108 White Knight 70 Testkey Extractor 320-2 Williamson, J. M. 137, 139 Texas Instruments 303 Wilson, C. 242, 260 TEXPERT 113,309,310-17,330 work groups 345 TIPI 222-3,225 workstations (WS) 146,291 TOES (Transamerica Occidental Expert Goldman Sachs 49-50 System) 257 security 281-2 Tokai Bank 96, 221 Yamaichi Securities 89 Tokyo, Bank of 79 Tokyo Marine and Fire 79 XCON 299 Tokyo Stock Exchange 142-3 Toshiba 118-19, 293 Yada, Mr 112 Touche Ross 232 Yamaichi Securities 49, 77, 87-9, 108, Town Clearing 138-9 190-1 training 50-1, 52, 100--1,243, 333-54 Yasuda Trust 87 Transamerica Occidental Life Insurance YES-MVS 302-3 Company 257 translation of languages 324-32 Zimmerman, Professor 211