One of the four majors will go live with a new suite of software next Tuesday. The software  is tipped to deliver management much greater visibility of the real-time impact of millions of financial transactions, allowing strategy to be fine-tuned on the fly.While Progress Software, which has sold the system, declined to name which of the four big banks has bought its system, the clues point strongly to the Commonwealth Bank.For one, CBA (along with ANZ) already uses the Apama complex event progressing system, which is a key element of Progress' Responsive Process Management Suite.  Progress also discussed the extensive Service Oriented Architecture that its bank client had developed - again pointing to the CBA, which is probably furthest along the SOA path as part of its core systems overhaul.Whichever bank is the user, it will be receiving a new level of visibility into its operations, and the potential for a competitive edge. Derek Brand, Progress' vice president in Australia and New Zealand, said that the problem the bank had identified was a lack of real-time analysis. "The general manager of the bank told me they were running the business blind in terms of real-time analysis of information," said Brand.Although the bank had exception-based reporting to identify anomalies, it did not have real-time analysis of events. He said the bank's system was scheduled to go live on June 15.CBA CIO Michael Harte has not responded to requests for further information. However earlier this year he explained in detail to Banking Day his plans to digitise as much of the banking process as possible in order to maximise agility; adopting a real-time process management suite of software seems a logical next step.The financial sector is one of the primary sales targets for the software suite according to Dr John Bates, a co-founder of Apama and now chief technology officer of Progress, who was in Australia this week."Business intelligence is highly useful for planning. But companies want to use information to change what they are doing now," he said. This had led to organisations such as UK regulator the Financial Services Authority adopting some of the tools to police the financial market in real time.Using advanced software analysis tools was essential to track the markets, according to Bates; otherwise regulators would be "chasing Ferraris while riding a bicycle." He said that: "High frequency trading means high frequency risk and needs high frequency surveillance."It was also important for financial services companies to have tools themselves which could quickly identify patterns in the market and develop responses to changing market activity. "The shelf life of a trading algorithm is three months. But during the crisis I saw firms changing their algorithms every day," said Bates.He also acknowledged that the advent of new financial regulations such as Basel III and tighter US regulations was likely to force financial institutions to implement tools to more closely monitor the market and their positions.