AlBaraka Islamic Bank has announced that it has selected Misys Equation and Misys Trade Innovation for implementation across its 20 branches in Pakistan. The new contract builds on a number of previous contracts with the AlBaraka Banking Group (ABG) and Misys across Africa and the Middle East.
Shafqaat Ahmed, AlBaraka Islamic Bank's Country Head Pakistan said, "As part of our growth strategy involving conversion of our Pakistan Operations into an Islamic Bank registered in Pakistan, paving the way for significantly enhancing our branch network and customer outreach, AlBaraka Islamic Bank in Pakistan has chosen Misys Equation as its new banking system. This will support its growth and diversification and would provide us a common banking system platform with our parent company, AlBaraka Banking Group, Bahrain and subsidiary banking companies spread over 12 countries. AlBaraka Islamic Bank's choice of Misys Equation is based on Misys' ability and strength to fully support AlBaraka's Islamic Banking needs, its strong risk management and compliance policies and its need for strong parameterisation attributes in a system, to support the bank's ongoing efforts aimed at innovative new product development."
Showing posts with label Banking Software. Show all posts
Showing posts with label Banking Software. Show all posts
Tuesday, 4 November 2008
Monday, 20 October 2008
S1 Corporate Banking Update Released
S1 Enterprise, has made available a new release of S1 Corporate Banking that encompasses an array of user customizable and international online cash management capabilities including: a new Interactive Information Reporting solution that offers user-defined data manipulation so banks can provide their large corporate customers the ability to tailor the user experience to their individual needs, and a Service Oriented Architecture (SOA) based Global Payments Framework that will enable banks to more easily implement new high and low value payment types worldwide.
Interactive Information Reporting allows users to customize the appearance of their prior day and current day report information, execute advanced data aggregation and complex calculations, and perform advanced sorting and filtering of account information. In addition, a new Business Dashboard leverages the latest in Web 2.0 technologies to provide "drag and drop" widgets for immediate access to the most relevant data and functions. Users have access to account balance metrics, reporting and transaction capabilities, items needing immediate attention, and shortcuts to transaction initiation functions. Users can enjoy a unique online experience as their customizations to Interactive Information Reporting and Business Dashboard can be saved.
The Global Payments Framework allows S1 Enterprise and its customers to easily add new country specific payment methods. Based on SOA principles, the Global Payments Framework supports open standards based web services, enabling maximum flexibility and ensuring technology alignment with current and emerging standards. Additionally, AJAX and context sensitive Java-Help were implemented to leverage an enhanced user experience. Other key features of the new S1 Corporate Banking solution include asynchronous export, integration of SWIFT-reported data, eReport usability upgrades, and IAT payments.
Finally, extensive modifications were incorporated to facilitate multi-locale, multilingual installations.
"With this release, we have taken significant steps to execute on our SOA strategy. Additionally, our Interactive Information Reporting and Business Dashboard capabilities leverage the newest technologies to provide innovative solutions for banks who want to provide a user-centric customer experience," says Fred Dumas, General Manager, S1 Treasury Online Group. "Leading institutions such as Comerica Bank and Zions Bancorporation will be the first banks to leverage the new S1 Corporate Banking application."
Interactive Information Reporting allows users to customize the appearance of their prior day and current day report information, execute advanced data aggregation and complex calculations, and perform advanced sorting and filtering of account information. In addition, a new Business Dashboard leverages the latest in Web 2.0 technologies to provide "drag and drop" widgets for immediate access to the most relevant data and functions. Users have access to account balance metrics, reporting and transaction capabilities, items needing immediate attention, and shortcuts to transaction initiation functions. Users can enjoy a unique online experience as their customizations to Interactive Information Reporting and Business Dashboard can be saved.
The Global Payments Framework allows S1 Enterprise and its customers to easily add new country specific payment methods. Based on SOA principles, the Global Payments Framework supports open standards based web services, enabling maximum flexibility and ensuring technology alignment with current and emerging standards. Additionally, AJAX and context sensitive Java-Help were implemented to leverage an enhanced user experience. Other key features of the new S1 Corporate Banking solution include asynchronous export, integration of SWIFT-reported data, eReport usability upgrades, and IAT payments.
Finally, extensive modifications were incorporated to facilitate multi-locale, multilingual installations.
"With this release, we have taken significant steps to execute on our SOA strategy. Additionally, our Interactive Information Reporting and Business Dashboard capabilities leverage the newest technologies to provide innovative solutions for banks who want to provide a user-centric customer experience," says Fred Dumas, General Manager, S1 Treasury Online Group. "Leading institutions such as Comerica Bank and Zions Bancorporation will be the first banks to leverage the new S1 Corporate Banking application."
Scotiabank Electronic Banking Launched
Scotiabank's Global Transaction Banking (GTB) division today announced the launch of ScotiaGlobal electronic banking, an integrated, online cash management tool. Also announced is the availability of a new Integrated Payments service through ScotiaConnect electronic banking.
ScotiaGlobal offers GTB clients who operate their business across the NAFTA region access to real-time information on their Scotiabank accounts in Canada, the US and Mexico. Through a single sign-on to ScotiaGlobal, clients can also access their ScotiaConnect and Scotia En Linea services to manage their electronic cash management and payments across the region.
"Customers are demanding truly integrated global cash management solutions and ScotiaGlobal brings them that through a single platform," said Alice Eastman, Senior Vice-President Cash Management and Payment Services, Global Transaction Banking, Scotiabank. "ScotiaGlobal offers GTB clients a platform that is easy to access and convenient so they can manage their business banking across the NAFTA region from one centralized location."
ScotiaGlobal also includes links to other Scotiabank international online banking platforms along with trade finance and foreign exchange services. In addition, valuable content on interest rates and economic reports are available for clients who conduct business globally.
Today, GTB also launched Integrated Payments through ScotiaConnect. The Integrated Payments service streamlines the process of multiple collections and disbursements, improving cash flow and reducing expenses. Integrated Payments also allows clients to conveniently view, approve and delete Electronic Fund Transfers and Automated Clearing House payments online through ScotiaConnect.
"We understand that our clients work in complex organizations with multiple points of payment, and the ability to have approvals for multiple transaction types in an integrated platform will create a more efficient payables function," said Ms. Eastman. "The Integrated Payments system will also serve as a solution for our clients who currently don't have approval mechanisms in their own systems or who have a high volume of transactions."
ScotiaGlobal offers GTB clients who operate their business across the NAFTA region access to real-time information on their Scotiabank accounts in Canada, the US and Mexico. Through a single sign-on to ScotiaGlobal, clients can also access their ScotiaConnect and Scotia En Linea services to manage their electronic cash management and payments across the region.
"Customers are demanding truly integrated global cash management solutions and ScotiaGlobal brings them that through a single platform," said Alice Eastman, Senior Vice-President Cash Management and Payment Services, Global Transaction Banking, Scotiabank. "ScotiaGlobal offers GTB clients a platform that is easy to access and convenient so they can manage their business banking across the NAFTA region from one centralized location."
ScotiaGlobal also includes links to other Scotiabank international online banking platforms along with trade finance and foreign exchange services. In addition, valuable content on interest rates and economic reports are available for clients who conduct business globally.
Today, GTB also launched Integrated Payments through ScotiaConnect. The Integrated Payments service streamlines the process of multiple collections and disbursements, improving cash flow and reducing expenses. Integrated Payments also allows clients to conveniently view, approve and delete Electronic Fund Transfers and Automated Clearing House payments online through ScotiaConnect.
"We understand that our clients work in complex organizations with multiple points of payment, and the ability to have approvals for multiple transaction types in an integrated platform will create a more efficient payables function," said Ms. Eastman. "The Integrated Payments system will also serve as a solution for our clients who currently don't have approval mechanisms in their own systems or who have a high volume of transactions."
Monday, 13 October 2008
BluePhoenix Wins $5m of Deals
BluePhoenix Solutions (NASDAQ: BPHX), has recently signed two new deals valued at over $5 million for two large European banks.
Blue Phoenix solutions offer financial institutions a unique platform to reduce operating and maintenance costs of their IT assets, which is of critical importance now, with the banking industry worldwide in crisis mode. These two deals reinforce the market opportunity for Blue Phoenix and demonstrate that the company's ability to close large deals from its growing pipeline for potential business has remained robust during this recent economic downturn.
"BluePhoenix has an outstanding track record of working with banks to help them reduce total cost of ownership around more efficient, flexible and reliable platforms," said Yaron Tchwella, president of BluePhoenix Solutions. "Our unique modernization resources are helping our clients meet their cost-cutting mandates while they migrate their legacy IT systems to modern-day platforms. We look forward to the opportunity to work with these two customers and continuing to take advantage of what we see as an excellent business opportunity in front of us."
Blue Phoenix solutions offer financial institutions a unique platform to reduce operating and maintenance costs of their IT assets, which is of critical importance now, with the banking industry worldwide in crisis mode. These two deals reinforce the market opportunity for Blue Phoenix and demonstrate that the company's ability to close large deals from its growing pipeline for potential business has remained robust during this recent economic downturn.
"BluePhoenix has an outstanding track record of working with banks to help them reduce total cost of ownership around more efficient, flexible and reliable platforms," said Yaron Tchwella, president of BluePhoenix Solutions. "Our unique modernization resources are helping our clients meet their cost-cutting mandates while they migrate their legacy IT systems to modern-day platforms. We look forward to the opportunity to work with these two customers and continuing to take advantage of what we see as an excellent business opportunity in front of us."
Saturday, 11 October 2008
BankVal Server
A customer hosted validation web service and batch validation application. Provides full validation and lookup of UK bank sort codes and account numbers. Vendor is United Software
BankVal
A suite of web services used to validate uk bank sort codes, account numbers and credit card numbers and to provide full lookup of UK sort codes, including clearing information and accepted transaction types. Vendor is United Software.
Wednesday, 1 October 2008
BluePhoenix
BluePhoenix Solutions (NASDAQ: BPHX) is a leading provider of value-driven modernization solutions for legacy information systems. BluePhoenix offerings include a comprehensive suite of tools and services from global IT asset assessment and impact analysis to automated database and application migration, re-hosting, and renewal. Leveraging over 20 years of best-practice domain expertise, BluePhoenix works closely with its customers to ascertain which assets should be migrated, redeveloped, or wrapped for reuse as services or business processes, to protect and increase the value of their business applications and legacy systems with minimized risk and downtime.
BluePhoenix provides modernization solutions to companies from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. Among its prestigious customers are: Aflac, CareFirst, Citigroup, Danish Commerce and Companies Agency, Desjardins, Los Angeles County Employees Retirement Association, Merrill Lynch, Rabobank, Rural Servicios Informaticos, SDC Udvikling, TEMENOS, Toyota and Volvofinans. BluePhoenix has 15 offices in the USA, UK, Denmark, Germany, Italy, France, The Netherlands, Romania, Russia, Cyprus, South Korea, Australia, and Israel.
BluePhoenix provides modernization solutions to companies from diverse industries and vertical markets such as automotive, banking and financial services, insurance, manufacturing, and retail. Among its prestigious customers are: Aflac, CareFirst, Citigroup, Danish Commerce and Companies Agency, Desjardins, Los Angeles County Employees Retirement Association, Merrill Lynch, Rabobank, Rural Servicios Informaticos, SDC Udvikling, TEMENOS, Toyota and Volvofinans. BluePhoenix has 15 offices in the USA, UK, Denmark, Germany, Italy, France, The Netherlands, Romania, Russia, Cyprus, South Korea, Australia, and Israel.
Thursday, 25 September 2008
Surecomp Implemeted by China Minsheng Banking
Surecomp, a provider of global trade solutions for the financial services community recently announced that China Minsheng Banking Corporation has selected Surecomp’s fully comprehensive STP end-to-end trade finance solution to automate their trade service operations.Established in January 1996, Beijing-based CMBC ranks in the country’s top five banks and is amongst the leading 200 global banks.
Wednesday, 24 September 2008
Misys Midas Plus Selected by Mizuho
Mizuho Corporate Bank, headquartered in Tokyo, has selected Misys Midas Plus with Global Processing to support its ambitious international growth strategy. The implementation of the first site in Europe has been completed with all other operations to move onto the central hub individually. The integrated core banking solution will help Mizuho to deliver improved efficiencies and more informed decision-making within its commercial and investment banking operations and ensure a consistent level of customer service across the bank's global network.
Building on its strong client base, Mizuho's business strategy has two elements. First, the bank is combining its commercial banking and investment banking capabilities to offer its corporate customers a complete portfolio of services, including syndicated loans, M&A deals, leveraged finance, project finance, cash management and securities. Secondly, the bank is applying this business model on a global scale by extending the geographic coverage of its international network. Mizuho opened six international branches in 2006 and a further three branches in 2007.
Midas Plus with Global Processing will be used to centralise IT systems servicing branches throughout Europe. This will enable the bank to standardise business processes across its network, yet deliver the flexibility required to meet local regulatory environments and regional variations in business practice. Having a single system to support multiple branches will allow a single update to reflect changes into all the offices using Midas Plus with Global Processing.
By consolidating the IT infrastructure, the bank will streamline operations, deliver a consistent level of service to customers and improve the speed at which it can roll out additional branches. Midas Plus will reduce complexity and simplifying the bank's IT infrastructure, resulting in cost reduction, better access to information from across the business and a faster response to changes in the industry. Ultimately, it will substantially enhance how the bank delivers services to its corporate customers around the world.
Importantly, Mizuho executives will have an enterprise-wide view of the bank's management information and a much clearer picture of risk across the organisation. The ability to make more informed decisions based on a global perspective was a key requirement from the bank.
Graeme Beardsell, Head of Sales for Misys in Asia, adds, "We have built an excellent track record of providing a solution that enables banks to run their international operations with maximum efficiency and control. Our Global Processing facility within Misys Midas Plus will enable Mizuho to reduce the cost of operations considerably and provide the flexibility to explore new markets with minimal additional investment. We look forward to working with Mizuho in the future as we roll out the project."
Building on its strong client base, Mizuho's business strategy has two elements. First, the bank is combining its commercial banking and investment banking capabilities to offer its corporate customers a complete portfolio of services, including syndicated loans, M&A deals, leveraged finance, project finance, cash management and securities. Secondly, the bank is applying this business model on a global scale by extending the geographic coverage of its international network. Mizuho opened six international branches in 2006 and a further three branches in 2007.
Midas Plus with Global Processing will be used to centralise IT systems servicing branches throughout Europe. This will enable the bank to standardise business processes across its network, yet deliver the flexibility required to meet local regulatory environments and regional variations in business practice. Having a single system to support multiple branches will allow a single update to reflect changes into all the offices using Midas Plus with Global Processing.
By consolidating the IT infrastructure, the bank will streamline operations, deliver a consistent level of service to customers and improve the speed at which it can roll out additional branches. Midas Plus will reduce complexity and simplifying the bank's IT infrastructure, resulting in cost reduction, better access to information from across the business and a faster response to changes in the industry. Ultimately, it will substantially enhance how the bank delivers services to its corporate customers around the world.
Importantly, Mizuho executives will have an enterprise-wide view of the bank's management information and a much clearer picture of risk across the organisation. The ability to make more informed decisions based on a global perspective was a key requirement from the bank.
Graeme Beardsell, Head of Sales for Misys in Asia, adds, "We have built an excellent track record of providing a solution that enables banks to run their international operations with maximum efficiency and control. Our Global Processing facility within Misys Midas Plus will enable Mizuho to reduce the cost of operations considerably and provide the flexibility to explore new markets with minimal additional investment. We look forward to working with Mizuho in the future as we roll out the project."
Tuesday, 23 September 2008
Pireaeus Upgrades Misys Equation
Piraeus Bank ("Piraeus"), an Athens-based universal bank, has successfully upgraded to the latest version Misys Equation 3.9 and is live with the core banking system in Greece and branches in their Albanian operations.
Piraeus has upgraded to benefit from the enhancements in Misys Equation 3.9 in less than five months. The latest retail banking solution from Misys will augment the service Piraeus provides to its customers as it expands its operations. The implementation is an important part of the bank's growth strategy and will help Piraeus to continue to achieve its business ambitions.
Misys Equation has underpinned Piraeus Bank's operations for many years across its domestic and selected international branches and now runs the bank's operations across its 343 branches in Greece and 220 branches in three subsidiaries. The bank has implemented a strategy for expansion in South-Eastern Europe and Eastern Mediterranean markets and saw value in the latest version of Equation to help it to achieve its growth objectives while strengthening its competitive edge, particularly in the bank's lending business.
"The reason for implementing the new version is primarily for new functionality, specifically within lending", comments Janis Delis Piraeus Bank. "With the improved upgrade and release strategy that Misys has, we have succeeded in going live within 5 months. This was quite an achievement as it included all interfaces to external systems as well as implementing the lending module from scratch. We have worked very closely with Misys and they have proven to be a true partner in the project. We are now looking to use the same model for the rest of the countries where Misys is present."
Piraeus Bank is looking to enhance its market share further in Greece and abroad. Customer satisfaction is absolutely key to the bank and it was pleased that this latest version from Misys will enable it to improve service quality even further, keep customer loyalty high and also attract new customers.
Another cornerstone of the bank's strategy is being at the leading edge of innovation, as John Gilbert, Regional Manager for Southern Europe, Misys states, "Piraeus has bought into the Equation strategy and roadmap and our latest solution gives the bank the flexibility to create innovative products quickly, further strengthening its position in retail banking and enterprise financing. Misys Equation 3.9 will enable Piraeus to enhance its reputation in the marketplace by being able to provide market-ready products more quickly than its competition. It shows real commitment to our product strategy and we look forward to providing more enhancements in the future.".
Piraeus has upgraded to benefit from the enhancements in Misys Equation 3.9 in less than five months. The latest retail banking solution from Misys will augment the service Piraeus provides to its customers as it expands its operations. The implementation is an important part of the bank's growth strategy and will help Piraeus to continue to achieve its business ambitions.
Misys Equation has underpinned Piraeus Bank's operations for many years across its domestic and selected international branches and now runs the bank's operations across its 343 branches in Greece and 220 branches in three subsidiaries. The bank has implemented a strategy for expansion in South-Eastern Europe and Eastern Mediterranean markets and saw value in the latest version of Equation to help it to achieve its growth objectives while strengthening its competitive edge, particularly in the bank's lending business.
"The reason for implementing the new version is primarily for new functionality, specifically within lending", comments Janis Delis Piraeus Bank. "With the improved upgrade and release strategy that Misys has, we have succeeded in going live within 5 months. This was quite an achievement as it included all interfaces to external systems as well as implementing the lending module from scratch. We have worked very closely with Misys and they have proven to be a true partner in the project. We are now looking to use the same model for the rest of the countries where Misys is present."
Piraeus Bank is looking to enhance its market share further in Greece and abroad. Customer satisfaction is absolutely key to the bank and it was pleased that this latest version from Misys will enable it to improve service quality even further, keep customer loyalty high and also attract new customers.
Another cornerstone of the bank's strategy is being at the leading edge of innovation, as John Gilbert, Regional Manager for Southern Europe, Misys states, "Piraeus has bought into the Equation strategy and roadmap and our latest solution gives the bank the flexibility to create innovative products quickly, further strengthening its position in retail banking and enterprise financing. Misys Equation 3.9 will enable Piraeus to enhance its reputation in the marketplace by being able to provide market-ready products more quickly than its competition. It shows real commitment to our product strategy and we look forward to providing more enhancements in the future.".
Monday, 22 September 2008
Trading Technology Shorts
Xasax Joins Exegy Ticker Plant
Exegy, Inc., the innovator behind the Exegy Ticker Plant, announced today that Xasax Corporation has become the newest Exegy Ticker Plant customer. Xasax Joins Exegy Ticker Plant- -Exegy, Inc., the innovator behind the Exegy Ticker Plant, announced today that Xasax Corporation has become the newest Exegy Ticker Plant customer.
Rimes Adds the Yield Book
RIMES Technologies has added The Yield Book analytics to its data portfolio. The Yield Book models calculate yield, risk, and return measures consistently for a broad spectrum of bonds, enabling users to perform analysis on portfolios comprising a wide range of fixed income security types, such as government, agency, corporate, international and emerging market bonds, mortgages and fixed income derivatives. Rimes Adds the Yield Book- -RIMES Technologies has added The Yield Book analytics to its data portfolio. The Yield Book models calculate yield, risk, and return measures consistently for a broad spectrum of bonds, enabling users to perform analysis on portfolios comprising a wide range of fixed income security types, such as government, agency, corporate, international and emerging market bonds, mortgages and fixed income derivatives.
Cognotec and MNI Forex for RealStream Margin
Cognotec, vendor of the world’s leading e-forex trading solutions, has announced a partnership with Market News International (MNI) to enable traders to access breaking forex market news from around the world. Users of Cognotec RealStream Margin trading solution can now enjoy MNI’s ‘FX Bullet Points’ newsfeed on their desktops from within the RealStream Margin trading platform. Cognotec and MNI Forex for RealStream Margin- -Cognotec, vendor of the world’s leading e-forex trading solutions, has announced a partnership with Market News International (MNI) to enable traders to access breaking forex market news from around the world. Users of Cognotec RealStream Margin trading solution can now enjoy MNI’s ‘FX Bullet Points’ newsfeed on their desktops from within the RealStream Margin trading platform.
Paulson Bad Bank Goes to Congress
The government plan to stabilise the US financial system has been submitted to Congress in revised form.Treasury secretary Henry Paulson has shifted the terms of the $700 billion scheme to incorporate other "bad" assets, apart from complex financial products relating to the mortgage market.The government wants to use the fund to form a "bad bank", in which banks would be allowed to put the toxic derivatives which are currently clogging up their balance sheets. Paulson Bad Bank Goes to Congress- -The government plan to stabilise the US financial system has been submitted to Congress in revised form.Treasury secretary Henry Paulson has shifted the terms of the $700 billion scheme to incorporate other "bad" assets, apart from complex financial products relating to the mortgage market.The government wants to use the fund to form a "bad bank", in which banks would be allowed to put the toxic derivatives which are currently clogging up their balance sheets.
Morgan Stanley and Goldman Sachs Convert to Retail Banks
The last two Wall Street securitisation firms standing are to cease trading as investment banks.Morgan Stanley and Goldman Sachs are to become bank holding companies, which potentially means that they will soon accept customer deposits.Both banks will also now be more directly regulated by the Federal Reserve. Morgan Stanley and Goldman Sachs Convert to Retail Banks- -The last two Wall Street securitisation firms standing are to cease trading as investment banks.Morgan Stanley and Goldman Sachs are to become bank holding companies, which potentially means that they will soon accept customer deposits.Both banks will also now be more directly regulated by the Federal Reserve.
NYSE Euronext Advanced Trading Equities in a Box
NYSE Euronext Advanced Trading Solutions, a world leader in low latency trading technology and division of NYSE Euronext (NYX), today announced an innovative software based solution that has the capability to comfortably handle 10 major US equities feeds on a single server with potential headroom of 3x current market peak capacity. NYSE Euronext Advanced Trading Equities in a Box- -NYSE Euronext Advanced Trading Solutions, a world leader in low latency trading technology and division of NYSE Euronext (NYX), today announced an innovative software based solution that has the capability to comfortably handle 10 major US equities feeds on a single server with potential headroom of 3x current market peak capacity.
Shinhan Bank Selects Everlink
Everlink, a leading provider of electronic payments services in the Canadian marketplace, has announced that Shinhan Bank Canada, a wholly owned subsidiary of Shinhan Financial Group Co. Ltd., has entered into an agreement with Everlink for issuing and acquiring services. Shinhan Bank Selects Everlink- -Everlink, a leading provider of electronic payments services in the Canadian marketplace, has announced that Shinhan Bank Canada, a wholly owned subsidiary of Shinhan Financial Group Co. Ltd., has entered into an agreement with Everlink for issuing and acquiring services.
OTP Bank 1st USD/RUB Deal
OTP Bank (Russia) made its first USD/RUB spot deal as a market-maker on LavaFX trading platform with Dresdner Kleinwort, through legal entity Dresdner Bank AG, as prime broker."We consider this a very important event for the financial markets, - says Igor Suzdaltsev, head of financial institutions at OTP Bank (Russia). Ruble deals started at LavaFX on August 22nd, 2007 but it was hard to increase ruble trades due to small limits on Russian banks. OTP Bank 1st USD/RUB Deal- -OTP Bank (Russia) made its first USD/RUB spot deal as a market-maker on LavaFX trading platform with Dresdner Kleinwort, through legal entity Dresdner Bank AG, as prime broker."We consider this a very important event for the financial markets, - says Igor Suzdaltsev, head of financial institutions at OTP Bank (Russia). Ruble deals started at LavaFX on August 22nd, 2007 but it was hard to increase ruble trades due to small limits on Russian banks.
Dow Jones Alliance with EFE
Dow Jones, a leading provider of global business news and information services, has signed a strategic alliance with Agencia EFE, the world’s fourth-largest news agency. Together they will develop an exclusive joint Spanish-language news service – EFE Dow Jones News - to serve financial professionals, corporations, media, institutions and private investors in Spain. Dow Jones Alliance with EFE- -Dow Jones, a leading provider of global business news and information services, has signed a strategic alliance with Agencia EFE, the world’s fourth-largest news agency. Together they will develop an exclusive joint Spanish-language news service – EFE Dow Jones News - to serve financial professionals, corporations, media, institutions and private investors in Spain.
Impulse Software and Syndicate Asset Management
Paul Mepham, Sales Director at Pulse explains; Syndicate Asset Management is an AIM listed specialist investor in the global asset management industry with approaching £6 billion funds under management. Syndicate Asset Management has built a strong fund management group by consolidating a diverse, yet complementary, group of growing asset management companies based predominantly in the UK but also in the EU and other “offshore” centres. Impulse Software and Syndicate Asset Management- -Paul Mepham, Sales Director at Pulse explains; Syndicate Asset Management is an AIM listed specialist investor in the global asset management industry with approaching £6 billion funds under management. Syndicate Asset Management has built a strong fund management group by consolidating a diverse, yet complementary, group of growing asset management companies based predominantly in the UK but also in the EU and other “offshore” centres.
Orc Software Selected by Liquidez
Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity, today announced that Liquidez, one of Brazil’s largest futures brokers, has selected Orc’s trading and connectivity solutions to connect customers to local markets. This deal was booked Q2 2008.Liquidez will use Orc Trader and Orc CameronFIX to directly trade the BM&F, Brazil’s derivatives exchange. Orc Software Selected by Liquidez- -Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity, today announced that Liquidez, one of Brazil’s largest futures brokers, has selected Orc’s trading and connectivity solutions to connect customers to local markets. This deal was booked Q2 2008.Liquidez will use Orc Trader and Orc CameronFIX to directly trade the BM&F, Brazil’s derivatives exchange.
TietoEnator Impelemted by Nordic Banks
TietoEnator, one of the largest IT services providers in Europe, announces that SEPA Credit Transfer Solutions (SEPA Bulker) have been implemented for three of the largest Nordic Banks, Swedbank, Handelsbanken and Nordea, as well as for two Danish bureaus, BEC and SDC. The Nordic banks have implemented TietoEnator’s SEPA Credit Transfer solution, group-wide enabling offices in different countries to connect to one single infrastructure. TietoEnator Impelemted by Nordic Banks- -TietoEnator, one of the largest IT services providers in Europe, announces that SEPA Credit Transfer Solutions (SEPA Bulker) have been implemented for three of the largest Nordic Banks, Swedbank, Handelsbanken and Nordea, as well as for two Danish bureaus, BEC and SDC. The Nordic banks have implemented TietoEnator’s SEPA Credit Transfer solution, group-wide enabling offices in different countries to connect to one single infrastructure.
TietoEnator and SEB Enskilda
SEB Enskilda has selected TietoEnator’s capital market solution ProBroker to manage the company’s trading operation at the Oslo Stock Exchange. SEB Enskilda is the largest broker dealer at the Oslo Stock Exchange in terms of number of transactions as well as volumes. The implementation project has been running since vinter 2008 and 1st September SEB Enskilda went sucessfully into production with their new trading clearing and settlement solution. TietoEnator and SEB Enskilda- -SEB Enskilda has selected TietoEnator’s capital market solution ProBroker to manage the company’s trading operation at the Oslo Stock Exchange. SEB Enskilda is the largest broker dealer at the Oslo Stock Exchange in terms of number of transactions as well as volumes. The implementation project has been running since vinter 2008 and 1st September SEB Enskilda went sucessfully into production with their new trading clearing and settlement solution.
Mark Mobius Claims Recession Fears Exaggerated.
Mark Mobius, managing director, Templeton Asset Management, today claimed that widespread and ongoing fears of a European-wide recession have been exaggerated. Mr Mobius suggests the crisis is being led by repetitive and deepening pessimistic sentiment.The reality, he believes, is that excellent buying opportunities, increased liquidity and a new US administration will create favourable conditions for a rapid recovery in late 2009. Mark Mobius Claims Recession Fears Exaggerated.- -Mark Mobius, managing director, Templeton Asset Management, today claimed that widespread and ongoing fears of a European-wide recession have been exaggerated. Mr Mobius suggests the crisis is being led by repetitive and deepening pessimistic sentiment.The reality, he believes, is that excellent buying opportunities, increased liquidity and a new US administration will create favourable conditions for a rapid recovery in late 2009.
LME SMART Connectivity by Brady
Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has today announced the forthcoming launch of a new interface to LME SMART (the System for Matching and Registering Trades from the London Metal Exchange). LME member firms will be able to interface directly to the LME’s matching system which will forward trades to the London Clearing House (LCH) for clearing. LME SMART Connectivity by Brady- -Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has today announced the forthcoming launch of a new interface to LME SMART (the System for Matching and Registering Trades from the London Metal Exchange). LME member firms will be able to interface directly to the LME’s matching system which will forward trades to the London Clearing House (LCH) for clearing.
Optial Compliance Management
Optial announced today that the Bank of England has selected Optial’s Compliance Management module from the Optial Operational Risk Management platform, to support its internal control processes. Chris O’Brien, CEO of Optial, said “Every financial institution needs a strong internal control framework and we are delighted that the Bank of England has selected our flexible, workflow-enabled platform to further streamline the Bank’s already very strong monitoring and tracking procedures Optial Compliance Management- -Optial announced today that the Bank of England has selected Optial’s Compliance Management module from the Optial Operational Risk Management platform, to support its internal control processes. Chris O’Brien, CEO of Optial, said “Every financial institution needs a strong internal control framework and we are delighted that the Bank of England has selected our flexible, workflow-enabled platform to further streamline the Bank’s already very strong monitoring and tracking procedures
Temenos Appointments
Temenos (SWX: TEMN), the provider of integrated core banking systems, today announced the following appointments:Keith Stonell has been appointed as Regional Director for Northern Europe (NEU) and Commonwealth of Independent States (CIS), which is one of Temenos' largest and fastest growing regions. Stonell will also be responsible for the integration of the majority of the Financial Objects business, which falls into his regional portfolio. Temenos Appointments- -Temenos (SWX: TEMN), the provider of integrated core banking systems, today announced the following appointments:Keith Stonell has been appointed as Regional Director for Northern Europe (NEU) and Commonwealth of Independent States (CIS), which is one of Temenos' largest and fastest growing regions. Stonell will also be responsible for the integration of the majority of the Financial Objects business, which falls into his regional portfolio.
Fidessa Next Phase of European Multi-Asset Strategy
Fidessa group plc (LSE:FDSA), a leading global provider of multi-asset trading systems, market data and global connectivity solutions, has added an enhanced multi-asset, pre-trade risk module for account-based trading across equities, futures and contracts for difference (CFDs) to its European sell-side trading platform. The move marks the latest phase in Fidessa’s comprehensive multi-asset strategy, and is a direct response to increasing asset convergence seen in both the US and Europe. Fidessa Next Phase of European Multi-Asset Strategy- -Fidessa group plc (LSE:FDSA), a leading global provider of multi-asset trading systems, market data and global connectivity solutions, has added an enhanced multi-asset, pre-trade risk module for account-based trading across equities, futures and contracts for difference (CFDs) to its European sell-side trading platform. The move marks the latest phase in Fidessa’s comprehensive multi-asset strategy, and is a direct response to increasing asset convergence seen in both the US and Europe.
DBFS Acquires Tradermade International
DBFS, the IT Consultancy and Project Delivery specialist, has announced that it has recently acquired Tradermade International Ltd, a premier provider of real-time technical analysis solutions to the financial markets.‘The acquisition of TraderMade is the first of several steps in our growth plans, and a welcome addition to our business’ says David Upton, Managing Director DBFS. DBFS Acquires Tradermade International- -DBFS, the IT Consultancy and Project Delivery specialist, has announced that it has recently acquired Tradermade International Ltd, a premier provider of real-time technical analysis solutions to the financial markets.‘The acquisition of TraderMade is the first of several steps in our growth plans, and a welcome addition to our business’ says David Upton, Managing Director DBFS.
Standard and Poor's Risk Solutions
Greek data and information provider Hellastat and Standard & Poor’s Risk Solutions have announced a new alliance to combine Standard & Poor’s probabilities of default (PD) and Hellastat data and information in a new service for the domestic Greek market.Standard & Poor’s already uses Hellastat financial statement data, along with default information from 3 leading Greek banks, to produce 1 through 5 year PDs on over 35,000 Greek SMEs. Standard and Poor's Risk Solutions- -Greek data and information provider Hellastat and Standard & Poor’s Risk Solutions have announced a new alliance to combine Standard & Poor’s probabilities of default (PD) and Hellastat data and information in a new service for the domestic Greek market.Standard & Poor’s already uses Hellastat financial statement data, along with default information from 3 leading Greek banks, to produce 1 through 5 year PDs on over 35,000 Greek SMEs.
Celoxica PCI Express
Celoxica Holdings plc (AIM: CXA) a leading provider of low latency trading solutions, announces today that as a result of customer demand for Celoxica's hardware-accelerated market data products on the latest server platforms it is working with Intel to produce a PCI Express® implementation of its Accelerator Series. Celoxica PCI Express- -Celoxica Holdings plc (AIM: CXA) a leading provider of low latency trading solutions, announces today that as a result of customer demand for Celoxica's hardware-accelerated market data products on the latest server platforms it is working with Intel to produce a PCI Express® implementation of its Accelerator Series.
Trintech AssureNET GL Selected by Chrysler Financial
Trintech Group Plc (Nasdaq: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that Chrysler Financial has selected AssureNET GL to automate the review, approval, and status tracking of account reconciliations and manage the accounting close process and ReconNET for high volume transaction matching. Trintech AssureNET GL Selected by Chrysler Financial- -Trintech Group Plc (Nasdaq: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that Chrysler Financial has selected AssureNET GL to automate the review, approval, and status tracking of account reconciliations and manage the accounting close process and ReconNET for high volume transaction matching.
First STAC-M1 Benchmark
The Securities Technology Analysis Center (STAC®) today announced that the STAC Benchmark Council has approved the STAC-M1 Benchmark™ specifications. This marks the first industry-standard benchmark for trading technology.The STAC Benchmark Council is a group of 40 leading trading firms and technology vendors that was formed one year ago to develop standard ways of measuring the performance of trading technologies (see www.STACresarch.com/council). First STAC-M1 Benchmark- -The Securities Technology Analysis Center (STAC®) today announced that the STAC Benchmark Council has approved the STAC-M1 Benchmark™ specifications. This marks the first industry-standard benchmark for trading technology.The STAC Benchmark Council is a group of 40 leading trading firms and technology vendors that was formed one year ago to develop standard ways of measuring the performance of trading technologies (see www.STACresarch.com/council).
Advent Software Record Attendance
Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services to the investment management industry, today announced record-setting attendance at its 2008 Annual Client Conference held in Las Vegas. The event, which took place September 8 – 10, was Advent’s largest and most successful conference to date with nearly 1,400 attendees. The conference also included Advent’s Annual Analyst and Investor Event.“As Advent celebrates its 25th anniversary. Advent Software Record Attendance- -Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services to the investment management industry, today announced record-setting attendance at its 2008 Annual Client Conference held in Las Vegas. The event, which took place September 8 – 10, was Advent’s largest and most successful conference to date with nearly 1,400 attendees. The conference also included Advent’s Annual Analyst and Investor Event.“As Advent celebrates its 25th anniversary.
SoftModule Grid Computing for Tervela
Tervela, the leading provider of high-performance, low-latency messaging systems, today announced that SoftModule, an innovative provider of enterprise-class grid computing solutions, has joined the Tervela Advantage Partner Program (TAPP). The companies will be working together to provide a high-performance GridSwitch computing solution that leverages the Tervela Message Network™ to effectively meet the demanding requirements for large-scale grid computing platforms. SoftModule Grid Computing for Tervela- -Tervela, the leading provider of high-performance, low-latency messaging systems, today announced that SoftModule, an innovative provider of enterprise-class grid computing solutions, has joined the Tervela Advantage Partner Program (TAPP). The companies will be working together to provide a high-performance GridSwitch computing solution that leverages the Tervela Message Network™ to effectively meet the demanding requirements for large-scale grid computing platforms.
Advent Portfolio Exchange
Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that River Road Asset Management, LLC and Knightsbridge Asset Management, LLC are enjoying the benefits of Advent Portfolio Exchange® (APX), its award-winning, fully integrated portfolio and client relationship management solution. Advent Portfolio Exchange- -Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that River Road Asset Management, LLC and Knightsbridge Asset Management, LLC are enjoying the benefits of Advent Portfolio Exchange® (APX), its award-winning, fully integrated portfolio and client relationship management solution.
Linedata Services Award
Linedata Services (LIN:FP), the leader in award-winning investment software, solutions and services, today announced that its Hedge Fund Solution has been recognized as the "Best Provider of Portfolio Management Systems," at the 2008 U.S. Hedge Fund Journal Awards.This award reflects the growing dominance of Linedata Services in the North American hedge fund space during what has been an incredibly productive year across its entire asset management division. Linedata Services Award- -Linedata Services (LIN:FP), the leader in award-winning investment software, solutions and services, today announced that its Hedge Fund Solution has been recognized as the "Best Provider of Portfolio Management Systems," at the 2008 U.S. Hedge Fund Journal Awards.This award reflects the growing dominance of Linedata Services in the North American hedge fund space during what has been an incredibly productive year across its entire asset management division.
DST Opens Jakarta Office
ST International (DSTi) has today confirmed the opening of its new office in Jakarta. The office is located in Menara Prima, in the heart of Jakarta’s thriving central business district, bringing it closer to DSTi’s many local clients in Jakarta. DSTi Indonesia Director Liz East talked about DSTi’s commitment to the Indonesian market: “DST International has been operational in Jakarta for 3 years and in that time we have built a very good reputation here. DST Opens Jakarta Office- -ST International (DSTi) has today confirmed the opening of its new office in Jakarta. The office is located in Menara Prima, in the heart of Jakarta’s thriving central business district, bringing it closer to DSTi’s many local clients in Jakarta. DSTi Indonesia Director Liz East talked about DSTi’s commitment to the Indonesian market: “DST International has been operational in Jakarta for 3 years and in that time we have built a very good reputation here.
IDOM Alliance with Acclaim Resources
IDOM, Inc. today announced that they have formed a preferred vendor relationship with Acclaim Resources, LCC, a leading provider of cost effective solutions to support regulatory and business objectives. IDOM and Acclaim Resources have formed a strategic partnership under which Acclaim Resources is a certified reseller of both IDOM’s industry leading regulatory reporting software - REG-Reporter, and its document and compliance management software application – DOC-Tracker. IDOM Alliance with Acclaim Resources- -IDOM, Inc. today announced that they have formed a preferred vendor relationship with Acclaim Resources, LCC, a leading provider of cost effective solutions to support regulatory and business objectives. IDOM and Acclaim Resources have formed a strategic partnership under which Acclaim Resources is a certified reseller of both IDOM’s industry leading regulatory reporting software - REG-Reporter, and its document and compliance management software application – DOC-Tracker.
Manam Infotech Bahrain Subsidiary
Manam Infotech Pvt. Ltd., a leading provider of Mobile, Speech, Contact Center and Origination solutions to Banks, Financial Institutes and Government Agencies has announced the opening of Manam Infotech W.L.L., a Middle East subsidiary based in Bahrain. The company hired Mr. Amarnath Choudhary, Director, will be responsible for the Middle East Sales and Operations Manam Infotech Bahrain Subsidiary- -Manam Infotech Pvt. Ltd., a leading provider of Mobile, Speech, Contact Center and Origination solutions to Banks, Financial Institutes and Government Agencies has announced the opening of Manam Infotech W.L.L., a Middle East subsidiary based in Bahrain. The company hired Mr. Amarnath Choudhary, Director, will be responsible for the Middle East Sales and Operations
Exegy, Inc., the innovator behind the Exegy Ticker Plant, announced today that Xasax Corporation has become the newest Exegy Ticker Plant customer. Xasax Joins Exegy Ticker Plant- -Exegy, Inc., the innovator behind the Exegy Ticker Plant, announced today that Xasax Corporation has become the newest Exegy Ticker Plant customer.
Rimes Adds the Yield Book
RIMES Technologies has added The Yield Book analytics to its data portfolio. The Yield Book models calculate yield, risk, and return measures consistently for a broad spectrum of bonds, enabling users to perform analysis on portfolios comprising a wide range of fixed income security types, such as government, agency, corporate, international and emerging market bonds, mortgages and fixed income derivatives. Rimes Adds the Yield Book- -RIMES Technologies has added The Yield Book analytics to its data portfolio. The Yield Book models calculate yield, risk, and return measures consistently for a broad spectrum of bonds, enabling users to perform analysis on portfolios comprising a wide range of fixed income security types, such as government, agency, corporate, international and emerging market bonds, mortgages and fixed income derivatives.
Cognotec and MNI Forex for RealStream Margin
Cognotec, vendor of the world’s leading e-forex trading solutions, has announced a partnership with Market News International (MNI) to enable traders to access breaking forex market news from around the world. Users of Cognotec RealStream Margin trading solution can now enjoy MNI’s ‘FX Bullet Points’ newsfeed on their desktops from within the RealStream Margin trading platform. Cognotec and MNI Forex for RealStream Margin- -Cognotec, vendor of the world’s leading e-forex trading solutions, has announced a partnership with Market News International (MNI) to enable traders to access breaking forex market news from around the world. Users of Cognotec RealStream Margin trading solution can now enjoy MNI’s ‘FX Bullet Points’ newsfeed on their desktops from within the RealStream Margin trading platform.
Paulson Bad Bank Goes to Congress
The government plan to stabilise the US financial system has been submitted to Congress in revised form.Treasury secretary Henry Paulson has shifted the terms of the $700 billion scheme to incorporate other "bad" assets, apart from complex financial products relating to the mortgage market.The government wants to use the fund to form a "bad bank", in which banks would be allowed to put the toxic derivatives which are currently clogging up their balance sheets. Paulson Bad Bank Goes to Congress- -The government plan to stabilise the US financial system has been submitted to Congress in revised form.Treasury secretary Henry Paulson has shifted the terms of the $700 billion scheme to incorporate other "bad" assets, apart from complex financial products relating to the mortgage market.The government wants to use the fund to form a "bad bank", in which banks would be allowed to put the toxic derivatives which are currently clogging up their balance sheets.
Morgan Stanley and Goldman Sachs Convert to Retail Banks
The last two Wall Street securitisation firms standing are to cease trading as investment banks.Morgan Stanley and Goldman Sachs are to become bank holding companies, which potentially means that they will soon accept customer deposits.Both banks will also now be more directly regulated by the Federal Reserve. Morgan Stanley and Goldman Sachs Convert to Retail Banks- -The last two Wall Street securitisation firms standing are to cease trading as investment banks.Morgan Stanley and Goldman Sachs are to become bank holding companies, which potentially means that they will soon accept customer deposits.Both banks will also now be more directly regulated by the Federal Reserve.
NYSE Euronext Advanced Trading Equities in a Box
NYSE Euronext Advanced Trading Solutions, a world leader in low latency trading technology and division of NYSE Euronext (NYX), today announced an innovative software based solution that has the capability to comfortably handle 10 major US equities feeds on a single server with potential headroom of 3x current market peak capacity. NYSE Euronext Advanced Trading Equities in a Box- -NYSE Euronext Advanced Trading Solutions, a world leader in low latency trading technology and division of NYSE Euronext (NYX), today announced an innovative software based solution that has the capability to comfortably handle 10 major US equities feeds on a single server with potential headroom of 3x current market peak capacity.
Shinhan Bank Selects Everlink
Everlink, a leading provider of electronic payments services in the Canadian marketplace, has announced that Shinhan Bank Canada, a wholly owned subsidiary of Shinhan Financial Group Co. Ltd., has entered into an agreement with Everlink for issuing and acquiring services. Shinhan Bank Selects Everlink- -Everlink, a leading provider of electronic payments services in the Canadian marketplace, has announced that Shinhan Bank Canada, a wholly owned subsidiary of Shinhan Financial Group Co. Ltd., has entered into an agreement with Everlink for issuing and acquiring services.
OTP Bank 1st USD/RUB Deal
OTP Bank (Russia) made its first USD/RUB spot deal as a market-maker on LavaFX trading platform with Dresdner Kleinwort, through legal entity Dresdner Bank AG, as prime broker."We consider this a very important event for the financial markets, - says Igor Suzdaltsev, head of financial institutions at OTP Bank (Russia). Ruble deals started at LavaFX on August 22nd, 2007 but it was hard to increase ruble trades due to small limits on Russian banks. OTP Bank 1st USD/RUB Deal- -OTP Bank (Russia) made its first USD/RUB spot deal as a market-maker on LavaFX trading platform with Dresdner Kleinwort, through legal entity Dresdner Bank AG, as prime broker."We consider this a very important event for the financial markets, - says Igor Suzdaltsev, head of financial institutions at OTP Bank (Russia). Ruble deals started at LavaFX on August 22nd, 2007 but it was hard to increase ruble trades due to small limits on Russian banks.
Dow Jones Alliance with EFE
Dow Jones, a leading provider of global business news and information services, has signed a strategic alliance with Agencia EFE, the world’s fourth-largest news agency. Together they will develop an exclusive joint Spanish-language news service – EFE Dow Jones News - to serve financial professionals, corporations, media, institutions and private investors in Spain. Dow Jones Alliance with EFE- -Dow Jones, a leading provider of global business news and information services, has signed a strategic alliance with Agencia EFE, the world’s fourth-largest news agency. Together they will develop an exclusive joint Spanish-language news service – EFE Dow Jones News - to serve financial professionals, corporations, media, institutions and private investors in Spain.
Impulse Software and Syndicate Asset Management
Paul Mepham, Sales Director at Pulse explains; Syndicate Asset Management is an AIM listed specialist investor in the global asset management industry with approaching £6 billion funds under management. Syndicate Asset Management has built a strong fund management group by consolidating a diverse, yet complementary, group of growing asset management companies based predominantly in the UK but also in the EU and other “offshore” centres. Impulse Software and Syndicate Asset Management- -Paul Mepham, Sales Director at Pulse explains; Syndicate Asset Management is an AIM listed specialist investor in the global asset management industry with approaching £6 billion funds under management. Syndicate Asset Management has built a strong fund management group by consolidating a diverse, yet complementary, group of growing asset management companies based predominantly in the UK but also in the EU and other “offshore” centres.
Orc Software Selected by Liquidez
Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity, today announced that Liquidez, one of Brazil’s largest futures brokers, has selected Orc’s trading and connectivity solutions to connect customers to local markets. This deal was booked Q2 2008.Liquidez will use Orc Trader and Orc CameronFIX to directly trade the BM&F, Brazil’s derivatives exchange. Orc Software Selected by Liquidez- -Orc Software (SSE: ORC), the leading global provider of technology for advanced derivatives trading and connectivity, today announced that Liquidez, one of Brazil’s largest futures brokers, has selected Orc’s trading and connectivity solutions to connect customers to local markets. This deal was booked Q2 2008.Liquidez will use Orc Trader and Orc CameronFIX to directly trade the BM&F, Brazil’s derivatives exchange.
TietoEnator Impelemted by Nordic Banks
TietoEnator, one of the largest IT services providers in Europe, announces that SEPA Credit Transfer Solutions (SEPA Bulker) have been implemented for three of the largest Nordic Banks, Swedbank, Handelsbanken and Nordea, as well as for two Danish bureaus, BEC and SDC. The Nordic banks have implemented TietoEnator’s SEPA Credit Transfer solution, group-wide enabling offices in different countries to connect to one single infrastructure. TietoEnator Impelemted by Nordic Banks- -TietoEnator, one of the largest IT services providers in Europe, announces that SEPA Credit Transfer Solutions (SEPA Bulker) have been implemented for three of the largest Nordic Banks, Swedbank, Handelsbanken and Nordea, as well as for two Danish bureaus, BEC and SDC. The Nordic banks have implemented TietoEnator’s SEPA Credit Transfer solution, group-wide enabling offices in different countries to connect to one single infrastructure.
TietoEnator and SEB Enskilda
SEB Enskilda has selected TietoEnator’s capital market solution ProBroker to manage the company’s trading operation at the Oslo Stock Exchange. SEB Enskilda is the largest broker dealer at the Oslo Stock Exchange in terms of number of transactions as well as volumes. The implementation project has been running since vinter 2008 and 1st September SEB Enskilda went sucessfully into production with their new trading clearing and settlement solution. TietoEnator and SEB Enskilda- -SEB Enskilda has selected TietoEnator’s capital market solution ProBroker to manage the company’s trading operation at the Oslo Stock Exchange. SEB Enskilda is the largest broker dealer at the Oslo Stock Exchange in terms of number of transactions as well as volumes. The implementation project has been running since vinter 2008 and 1st September SEB Enskilda went sucessfully into production with their new trading clearing and settlement solution.
Mark Mobius Claims Recession Fears Exaggerated.
Mark Mobius, managing director, Templeton Asset Management, today claimed that widespread and ongoing fears of a European-wide recession have been exaggerated. Mr Mobius suggests the crisis is being led by repetitive and deepening pessimistic sentiment.The reality, he believes, is that excellent buying opportunities, increased liquidity and a new US administration will create favourable conditions for a rapid recovery in late 2009. Mark Mobius Claims Recession Fears Exaggerated.- -Mark Mobius, managing director, Templeton Asset Management, today claimed that widespread and ongoing fears of a European-wide recession have been exaggerated. Mr Mobius suggests the crisis is being led by repetitive and deepening pessimistic sentiment.The reality, he believes, is that excellent buying opportunities, increased liquidity and a new US administration will create favourable conditions for a rapid recovery in late 2009.
LME SMART Connectivity by Brady
Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has today announced the forthcoming launch of a new interface to LME SMART (the System for Matching and Registering Trades from the London Metal Exchange). LME member firms will be able to interface directly to the LME’s matching system which will forward trades to the London Clearing House (LCH) for clearing. LME SMART Connectivity by Brady- -Brady plc (BRY.L), the leading supplier of trading and risk management solutions for metals and commodities, has today announced the forthcoming launch of a new interface to LME SMART (the System for Matching and Registering Trades from the London Metal Exchange). LME member firms will be able to interface directly to the LME’s matching system which will forward trades to the London Clearing House (LCH) for clearing.
Optial Compliance Management
Optial announced today that the Bank of England has selected Optial’s Compliance Management module from the Optial Operational Risk Management platform, to support its internal control processes. Chris O’Brien, CEO of Optial, said “Every financial institution needs a strong internal control framework and we are delighted that the Bank of England has selected our flexible, workflow-enabled platform to further streamline the Bank’s already very strong monitoring and tracking procedures Optial Compliance Management- -Optial announced today that the Bank of England has selected Optial’s Compliance Management module from the Optial Operational Risk Management platform, to support its internal control processes. Chris O’Brien, CEO of Optial, said “Every financial institution needs a strong internal control framework and we are delighted that the Bank of England has selected our flexible, workflow-enabled platform to further streamline the Bank’s already very strong monitoring and tracking procedures
Temenos Appointments
Temenos (SWX: TEMN), the provider of integrated core banking systems, today announced the following appointments:Keith Stonell has been appointed as Regional Director for Northern Europe (NEU) and Commonwealth of Independent States (CIS), which is one of Temenos' largest and fastest growing regions. Stonell will also be responsible for the integration of the majority of the Financial Objects business, which falls into his regional portfolio. Temenos Appointments- -Temenos (SWX: TEMN), the provider of integrated core banking systems, today announced the following appointments:Keith Stonell has been appointed as Regional Director for Northern Europe (NEU) and Commonwealth of Independent States (CIS), which is one of Temenos' largest and fastest growing regions. Stonell will also be responsible for the integration of the majority of the Financial Objects business, which falls into his regional portfolio.
Fidessa Next Phase of European Multi-Asset Strategy
Fidessa group plc (LSE:FDSA), a leading global provider of multi-asset trading systems, market data and global connectivity solutions, has added an enhanced multi-asset, pre-trade risk module for account-based trading across equities, futures and contracts for difference (CFDs) to its European sell-side trading platform. The move marks the latest phase in Fidessa’s comprehensive multi-asset strategy, and is a direct response to increasing asset convergence seen in both the US and Europe. Fidessa Next Phase of European Multi-Asset Strategy- -Fidessa group plc (LSE:FDSA), a leading global provider of multi-asset trading systems, market data and global connectivity solutions, has added an enhanced multi-asset, pre-trade risk module for account-based trading across equities, futures and contracts for difference (CFDs) to its European sell-side trading platform. The move marks the latest phase in Fidessa’s comprehensive multi-asset strategy, and is a direct response to increasing asset convergence seen in both the US and Europe.
DBFS Acquires Tradermade International
DBFS, the IT Consultancy and Project Delivery specialist, has announced that it has recently acquired Tradermade International Ltd, a premier provider of real-time technical analysis solutions to the financial markets.‘The acquisition of TraderMade is the first of several steps in our growth plans, and a welcome addition to our business’ says David Upton, Managing Director DBFS. DBFS Acquires Tradermade International- -DBFS, the IT Consultancy and Project Delivery specialist, has announced that it has recently acquired Tradermade International Ltd, a premier provider of real-time technical analysis solutions to the financial markets.‘The acquisition of TraderMade is the first of several steps in our growth plans, and a welcome addition to our business’ says David Upton, Managing Director DBFS.
Standard and Poor's Risk Solutions
Greek data and information provider Hellastat and Standard & Poor’s Risk Solutions have announced a new alliance to combine Standard & Poor’s probabilities of default (PD) and Hellastat data and information in a new service for the domestic Greek market.Standard & Poor’s already uses Hellastat financial statement data, along with default information from 3 leading Greek banks, to produce 1 through 5 year PDs on over 35,000 Greek SMEs. Standard and Poor's Risk Solutions- -Greek data and information provider Hellastat and Standard & Poor’s Risk Solutions have announced a new alliance to combine Standard & Poor’s probabilities of default (PD) and Hellastat data and information in a new service for the domestic Greek market.Standard & Poor’s already uses Hellastat financial statement data, along with default information from 3 leading Greek banks, to produce 1 through 5 year PDs on over 35,000 Greek SMEs.
Celoxica PCI Express
Celoxica Holdings plc (AIM: CXA) a leading provider of low latency trading solutions, announces today that as a result of customer demand for Celoxica's hardware-accelerated market data products on the latest server platforms it is working with Intel to produce a PCI Express® implementation of its Accelerator Series. Celoxica PCI Express- -Celoxica Holdings plc (AIM: CXA) a leading provider of low latency trading solutions, announces today that as a result of customer demand for Celoxica's hardware-accelerated market data products on the latest server platforms it is working with Intel to produce a PCI Express® implementation of its Accelerator Series.
Trintech AssureNET GL Selected by Chrysler Financial
Trintech Group Plc (Nasdaq: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that Chrysler Financial has selected AssureNET GL to automate the review, approval, and status tracking of account reconciliations and manage the accounting close process and ReconNET for high volume transaction matching. Trintech AssureNET GL Selected by Chrysler Financial- -Trintech Group Plc (Nasdaq: TTPA), a leading global provider of integrated financial governance, transaction risk management, and compliance solutions, today announced that Chrysler Financial has selected AssureNET GL to automate the review, approval, and status tracking of account reconciliations and manage the accounting close process and ReconNET for high volume transaction matching.
First STAC-M1 Benchmark
The Securities Technology Analysis Center (STAC®) today announced that the STAC Benchmark Council has approved the STAC-M1 Benchmark™ specifications. This marks the first industry-standard benchmark for trading technology.The STAC Benchmark Council is a group of 40 leading trading firms and technology vendors that was formed one year ago to develop standard ways of measuring the performance of trading technologies (see www.STACresarch.com/council). First STAC-M1 Benchmark- -The Securities Technology Analysis Center (STAC®) today announced that the STAC Benchmark Council has approved the STAC-M1 Benchmark™ specifications. This marks the first industry-standard benchmark for trading technology.The STAC Benchmark Council is a group of 40 leading trading firms and technology vendors that was formed one year ago to develop standard ways of measuring the performance of trading technologies (see www.STACresarch.com/council).
Advent Software Record Attendance
Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services to the investment management industry, today announced record-setting attendance at its 2008 Annual Client Conference held in Las Vegas. The event, which took place September 8 – 10, was Advent’s largest and most successful conference to date with nearly 1,400 attendees. The conference also included Advent’s Annual Analyst and Investor Event.“As Advent celebrates its 25th anniversary. Advent Software Record Attendance- -Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services to the investment management industry, today announced record-setting attendance at its 2008 Annual Client Conference held in Las Vegas. The event, which took place September 8 – 10, was Advent’s largest and most successful conference to date with nearly 1,400 attendees. The conference also included Advent’s Annual Analyst and Investor Event.“As Advent celebrates its 25th anniversary.
SoftModule Grid Computing for Tervela
Tervela, the leading provider of high-performance, low-latency messaging systems, today announced that SoftModule, an innovative provider of enterprise-class grid computing solutions, has joined the Tervela Advantage Partner Program (TAPP). The companies will be working together to provide a high-performance GridSwitch computing solution that leverages the Tervela Message Network™ to effectively meet the demanding requirements for large-scale grid computing platforms. SoftModule Grid Computing for Tervela- -Tervela, the leading provider of high-performance, low-latency messaging systems, today announced that SoftModule, an innovative provider of enterprise-class grid computing solutions, has joined the Tervela Advantage Partner Program (TAPP). The companies will be working together to provide a high-performance GridSwitch computing solution that leverages the Tervela Message Network™ to effectively meet the demanding requirements for large-scale grid computing platforms.
Advent Portfolio Exchange
Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that River Road Asset Management, LLC and Knightsbridge Asset Management, LLC are enjoying the benefits of Advent Portfolio Exchange® (APX), its award-winning, fully integrated portfolio and client relationship management solution. Advent Portfolio Exchange- -Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that River Road Asset Management, LLC and Knightsbridge Asset Management, LLC are enjoying the benefits of Advent Portfolio Exchange® (APX), its award-winning, fully integrated portfolio and client relationship management solution.
Linedata Services Award
Linedata Services (LIN:FP), the leader in award-winning investment software, solutions and services, today announced that its Hedge Fund Solution has been recognized as the "Best Provider of Portfolio Management Systems," at the 2008 U.S. Hedge Fund Journal Awards.This award reflects the growing dominance of Linedata Services in the North American hedge fund space during what has been an incredibly productive year across its entire asset management division. Linedata Services Award- -Linedata Services (LIN:FP), the leader in award-winning investment software, solutions and services, today announced that its Hedge Fund Solution has been recognized as the "Best Provider of Portfolio Management Systems," at the 2008 U.S. Hedge Fund Journal Awards.This award reflects the growing dominance of Linedata Services in the North American hedge fund space during what has been an incredibly productive year across its entire asset management division.
DST Opens Jakarta Office
ST International (DSTi) has today confirmed the opening of its new office in Jakarta. The office is located in Menara Prima, in the heart of Jakarta’s thriving central business district, bringing it closer to DSTi’s many local clients in Jakarta. DSTi Indonesia Director Liz East talked about DSTi’s commitment to the Indonesian market: “DST International has been operational in Jakarta for 3 years and in that time we have built a very good reputation here. DST Opens Jakarta Office- -ST International (DSTi) has today confirmed the opening of its new office in Jakarta. The office is located in Menara Prima, in the heart of Jakarta’s thriving central business district, bringing it closer to DSTi’s many local clients in Jakarta. DSTi Indonesia Director Liz East talked about DSTi’s commitment to the Indonesian market: “DST International has been operational in Jakarta for 3 years and in that time we have built a very good reputation here.
IDOM Alliance with Acclaim Resources
IDOM, Inc. today announced that they have formed a preferred vendor relationship with Acclaim Resources, LCC, a leading provider of cost effective solutions to support regulatory and business objectives. IDOM and Acclaim Resources have formed a strategic partnership under which Acclaim Resources is a certified reseller of both IDOM’s industry leading regulatory reporting software - REG-Reporter, and its document and compliance management software application – DOC-Tracker. IDOM Alliance with Acclaim Resources- -IDOM, Inc. today announced that they have formed a preferred vendor relationship with Acclaim Resources, LCC, a leading provider of cost effective solutions to support regulatory and business objectives. IDOM and Acclaim Resources have formed a strategic partnership under which Acclaim Resources is a certified reseller of both IDOM’s industry leading regulatory reporting software - REG-Reporter, and its document and compliance management software application – DOC-Tracker.
Manam Infotech Bahrain Subsidiary
Manam Infotech Pvt. Ltd., a leading provider of Mobile, Speech, Contact Center and Origination solutions to Banks, Financial Institutes and Government Agencies has announced the opening of Manam Infotech W.L.L., a Middle East subsidiary based in Bahrain. The company hired Mr. Amarnath Choudhary, Director, will be responsible for the Middle East Sales and Operations Manam Infotech Bahrain Subsidiary- -Manam Infotech Pvt. Ltd., a leading provider of Mobile, Speech, Contact Center and Origination solutions to Banks, Financial Institutes and Government Agencies has announced the opening of Manam Infotech W.L.L., a Middle East subsidiary based in Bahrain. The company hired Mr. Amarnath Choudhary, Director, will be responsible for the Middle East Sales and Operations
CSC Offers Flexcube as Managed Hosting
CSC (NYSE:CSC) today announced that it is offering banks Oracle FLEXCUBE on a managed hosting basis. This new offering leverages Oracle's financial services software assets and CSC's managed hosting operational capabilities to provide mid-tier banks, initially in North America, with economical access to a modern and comprehensive, core banking solution with both retail and commercial banking functionality.
The hosted deployment model offers a total cost of ownership advantage without the costs associated with a traditional in-house implementation. The new offering also provides an opportunity for banks to replace legacy core banking systems that are expensive and inflexible with a secure hosted solution managed by CSC. FLEXCUBE, installed at banks in more than 120 countries since 1999, is a complete software suite for retail, consumer, corporate, investment, private and direct banking, asset management and investor servicing.
"More banks in the mid-tier are viewing hosted, platform-agnostic solutions as an attractive alternative for managing costs and improving efficiencies," said Tom Brogan, research director of Retail Banking for TowerGroup. "The challenge is developing solution alternatives that contribute to a bank's growth by providing functionality, efficiency enhancements and reliability at a predictable cost."
"CSC is one of the few leading information technology providers to focus specifically on managed hosting services as a core line of business," said R. Ravisankar, vice chairman, Oracle Financial Services Software Limited, and group vice president, Oracle FSGBU. "Banks demand secure, highly available environments with 100 percent reliability, and we are pleased to tap CSC's proven hosting capabilities to offer banks a new delivery option for FLEXCUBE."
This initiative between CSC and Oracle extends an alliance formed in 1992 aimed at driving innovation and delivering quality technology and client service by offering solutions in key industry segments. It is the companies' second collaboration focused on delivering a packaged banking industry solution.
"CSC has joined forces with Oracle again to empower banks by offering them a best-in-class core processing platform on a hosted basis," said Jim Cook, president of CSC's Financial Services Sector. "Together, we are providing an affordable, leading-edge alternative for mid-tier banks, enabling them to better compete in a crowded global marketplace."
CSC offers comprehensive management and hosting of leading packaged applications from state-of-the-art data centers equipped with the latest hardware, software, network, security, monitoring and disaster-recovery technology and services. For more than 30 years, CSC has been providing financial services-specific hosting and business process outsourcing services across the entire lending life cycle. CSC is one of the largest independent consumer finance servicers, administering more than seven million loans and related contracts.
The hosted deployment model offers a total cost of ownership advantage without the costs associated with a traditional in-house implementation. The new offering also provides an opportunity for banks to replace legacy core banking systems that are expensive and inflexible with a secure hosted solution managed by CSC. FLEXCUBE, installed at banks in more than 120 countries since 1999, is a complete software suite for retail, consumer, corporate, investment, private and direct banking, asset management and investor servicing.
"More banks in the mid-tier are viewing hosted, platform-agnostic solutions as an attractive alternative for managing costs and improving efficiencies," said Tom Brogan, research director of Retail Banking for TowerGroup. "The challenge is developing solution alternatives that contribute to a bank's growth by providing functionality, efficiency enhancements and reliability at a predictable cost."
"CSC is one of the few leading information technology providers to focus specifically on managed hosting services as a core line of business," said R. Ravisankar, vice chairman, Oracle Financial Services Software Limited, and group vice president, Oracle FSGBU. "Banks demand secure, highly available environments with 100 percent reliability, and we are pleased to tap CSC's proven hosting capabilities to offer banks a new delivery option for FLEXCUBE."
This initiative between CSC and Oracle extends an alliance formed in 1992 aimed at driving innovation and delivering quality technology and client service by offering solutions in key industry segments. It is the companies' second collaboration focused on delivering a packaged banking industry solution.
"CSC has joined forces with Oracle again to empower banks by offering them a best-in-class core processing platform on a hosted basis," said Jim Cook, president of CSC's Financial Services Sector. "Together, we are providing an affordable, leading-edge alternative for mid-tier banks, enabling them to better compete in a crowded global marketplace."
CSC offers comprehensive management and hosting of leading packaged applications from state-of-the-art data centers equipped with the latest hardware, software, network, security, monitoring and disaster-recovery technology and services. For more than 30 years, CSC has been providing financial services-specific hosting and business process outsourcing services across the entire lending life cycle. CSC is one of the largest independent consumer finance servicers, administering more than seven million loans and related contracts.
Friday, 19 September 2008
Global Payments Launch MobilePay
Global Payments Asia-Pacific Limited, a joint venture between HSBC and U.S.-based Global Payments Inc. (NYSE:GPN) , has introduced a secure GPRS-powered mobile payment service called Global MobilePay(TM) that provides mobile card acceptance capabilities for merchants in the Asia-Pacific region. Global Payments is one of the first payment processors to launch an extensive mobile payment solution for merchants across Asia. This service is now available in Brunei, China, India, Malaysia, the Maldives, the Philippines, Singapore, Sri Lanka and Taiwan.
Global MobilePay is a sophisticated card acceptance solution that uses GPRS wireless communication network for merchants that need to accept card payments beyond fixed locations or when traditional land line communication does not meet business needs. Merchants can now conduct face-to-face transactions anytime and anywhere. Through Global MobilePay, Global Payments now provides a comprehensive package that includes a mobile payment terminal, SIM card and GPRS network connectivity through a telecommunications partner, as well as payment processing services.
This new offering from Global Payments is ideal for merchants who need to accept card payments away from a retail countertop, such as cash-based delivery service providers or trade show exhibitors. With Global MobilePay, mobile merchants can now accept electronic payments to improve customer service and reduce the cost of handling cash significantly. For merchants in hospitality industries, Global MobilePay can help enhance customer payment experience. Hotels can use this payment solution to offer in-room check in and check out services, while restaurants can provide payment at table services to bring more convenience to patrons.
Global MobilePay is a sophisticated card acceptance solution that uses GPRS wireless communication network for merchants that need to accept card payments beyond fixed locations or when traditional land line communication does not meet business needs. Merchants can now conduct face-to-face transactions anytime and anywhere. Through Global MobilePay, Global Payments now provides a comprehensive package that includes a mobile payment terminal, SIM card and GPRS network connectivity through a telecommunications partner, as well as payment processing services.
This new offering from Global Payments is ideal for merchants who need to accept card payments away from a retail countertop, such as cash-based delivery service providers or trade show exhibitors. With Global MobilePay, mobile merchants can now accept electronic payments to improve customer service and reduce the cost of handling cash significantly. For merchants in hospitality industries, Global MobilePay can help enhance customer payment experience. Hotels can use this payment solution to offer in-room check in and check out services, while restaurants can provide payment at table services to bring more convenience to patrons.
Thursday, 18 September 2008
TCS Financial Selected By Clearstream
TCS Financial Solutions, has been selected as technology partner by Clearstream Services S.A. to support the development of the IT infrastructure for Link Up Markets.
While acting as operator for Link Up Markets, Clearstream Services S.A. will use the TCS BaNCS product suite (Service Integrator and Corporate Actions) for transforming and routing transactions and assuring the efficient exchange of information between the participating central securities depositories (CSDs). The solution will enable seamless integration among the CSDs, shielding them from differences in communication protocols and proprietary message standards. As a result the solution can be implemented swiftly, offering minimal adaptations for the participating CSDs.
Michael Jaeggi, Member of the Executive Board of Clearstream Services S.A., said, "Link Up Markets is an innovative joint venture for which time to market is crucial. We find a strong partner in TCS Financial Solutions because they possess a truly wide set of proven products and share a good track record of working together." Yves Baguet, Member of the Executive Board of Clearstream Services S.A., said: "We are confident that the combination of the TCS BaNCS product running on Clearstream's state of the art IT technical infrastructure that we operate is a powerful asset for Link Up Markets."
"Improving the efficiency of cross-border services, and reducing the costs of post-trade processing in Europe is an exciting challenge for all stakeholders", said N. Ganapathy Subramaniam, President, TCS Financial Solutions. "Our team is proud to assist customers like Clearstream Services S.A. to develop strong partnerships between Central Securities Depository markets throughout Europe."
TCS BaNCS Service Integrator is a flexible and extensible java based integration platform that enables seamless integration among various applications, TCS BaNCS and Standard Messaging Networks and market data feeds. The solution supports integration through Messages, Files and Web Services over the industry standard protocols providing high STP rates for high volume trading. The solution has inbuilt configuration-driven readymade adaptors to integrate with Networks such as SWIFT, FIX and Feeds such as Reuters and Bloomberg, thus saving time and cost and reducing risks.
TCS BaNCS Corporate Actions is an industry-leading solution that enables enterprise-wide corporate actions automation. It takes control of the entire lifecycle of corporate actions processing thus mitigating operational risks and improving overall efficiency with high levels of STP and effective workflow management. It implements a common processing framework supporting a full range of event types, and has a comprehensive operations dashboard, presenting various operation metrics and alerts for critical events and breaks.
While acting as operator for Link Up Markets, Clearstream Services S.A. will use the TCS BaNCS product suite (Service Integrator and Corporate Actions) for transforming and routing transactions and assuring the efficient exchange of information between the participating central securities depositories (CSDs). The solution will enable seamless integration among the CSDs, shielding them from differences in communication protocols and proprietary message standards. As a result the solution can be implemented swiftly, offering minimal adaptations for the participating CSDs.
Michael Jaeggi, Member of the Executive Board of Clearstream Services S.A., said, "Link Up Markets is an innovative joint venture for which time to market is crucial. We find a strong partner in TCS Financial Solutions because they possess a truly wide set of proven products and share a good track record of working together." Yves Baguet, Member of the Executive Board of Clearstream Services S.A., said: "We are confident that the combination of the TCS BaNCS product running on Clearstream's state of the art IT technical infrastructure that we operate is a powerful asset for Link Up Markets."
"Improving the efficiency of cross-border services, and reducing the costs of post-trade processing in Europe is an exciting challenge for all stakeholders", said N. Ganapathy Subramaniam, President, TCS Financial Solutions. "Our team is proud to assist customers like Clearstream Services S.A. to develop strong partnerships between Central Securities Depository markets throughout Europe."
TCS BaNCS Service Integrator is a flexible and extensible java based integration platform that enables seamless integration among various applications, TCS BaNCS and Standard Messaging Networks and market data feeds. The solution supports integration through Messages, Files and Web Services over the industry standard protocols providing high STP rates for high volume trading. The solution has inbuilt configuration-driven readymade adaptors to integrate with Networks such as SWIFT, FIX and Feeds such as Reuters and Bloomberg, thus saving time and cost and reducing risks.
TCS BaNCS Corporate Actions is an industry-leading solution that enables enterprise-wide corporate actions automation. It takes control of the entire lifecycle of corporate actions processing thus mitigating operational risks and improving overall efficiency with high levels of STP and effective workflow management. It implements a common processing framework supporting a full range of event types, and has a comprehensive operations dashboard, presenting various operation metrics and alerts for critical events and breaks.
Yucheng Technologies and Bank of Communications
Yucheng Technologies Limited (NASDAQ:YTEC) , a provider of IT solutions and services to China's banking industry, today announced the deployment of a new Asset and Liability Management Information System (ALMIS) to the Bank of Communications (BoCom). The ALMIS will be the backbone of the BoCom's risk management system going forward.
The system focuses specifically on managing interest rate risk and liquidity risk at BoCom, in accordance with Basel II requirements. For this sizeable contract Yucheng will both adapt software for the ALMIS and customize pre-existing third-party application programs, where available.
Mr. Weidong Hong, CEO of Yucheng Technologies stated, "This is an expansion of our relationship with BoCom. In the past, we provided a variety of channel-related and management-related solutions, such as performance assessment systems, e-banking capabilities, and call centers. Yucheng is pleased to be able to support BoCom as it transforms its services and management systems into an even stronger competitive advantage."
"In light of deregulation in the Chinese banking industry and China's upcoming BASEL II compliance in 2012, we expect strong IT spending to continue," concluded Mr. Hong.
Yucheng has implemented ALMIS solutions for more than 10 leading banks including, China Merchant Bank, the Bank of Beijing and China Construction Bank. According to IDC, it is estimated that the risk management solutions market in China could grow by as much as 29.5% CAGR for the next five years.
The system focuses specifically on managing interest rate risk and liquidity risk at BoCom, in accordance with Basel II requirements. For this sizeable contract Yucheng will both adapt software for the ALMIS and customize pre-existing third-party application programs, where available.
Mr. Weidong Hong, CEO of Yucheng Technologies stated, "This is an expansion of our relationship with BoCom. In the past, we provided a variety of channel-related and management-related solutions, such as performance assessment systems, e-banking capabilities, and call centers. Yucheng is pleased to be able to support BoCom as it transforms its services and management systems into an even stronger competitive advantage."
"In light of deregulation in the Chinese banking industry and China's upcoming BASEL II compliance in 2012, we expect strong IT spending to continue," concluded Mr. Hong.
Yucheng has implemented ALMIS solutions for more than 10 leading banks including, China Merchant Bank, the Bank of Beijing and China Construction Bank. According to IDC, it is estimated that the risk management solutions market in China could grow by as much as 29.5% CAGR for the next five years.
Wednesday, 17 September 2008
Polish Win for BizTalk
Microsoft Corp. today announced at Sibos 2008 that the Polish National Depository for Securities (KDPW) is implementing Microsoft BizTalk Accelerator for SWIFT for the transport, management and exchange of more than 4 million SWIFT transactions per year. As the central institution responsible for the management and supervision of clearing and settlement in Poland, KDPW will use Microsoft's leading solution for financial messaging integration, leveraging BizTalk Accelerator for SWIFT to help about 10 domestic and global customers efficiently and effectively connect to SWIFT.
"As the primary organization for the facilitation of clearing and settlement in Poland, KDPW strives to provide its customers with the highest global standards, including those for full securities dematerialization," said Slawomir Panasiuk, member of the management board, KDPW. "We needed to implement a solution that would allow our customers the best and most effective solution for exchanging SWIFT transactions with foreign depositories, but that also took our future international growth plans into consideration. Microsoft BizTalk Accelerator for SWIFT allows us to provide this connectivity quickly and easily, and provides the flexibility for us to connect additional financial institutions from around the globe as our clients need them."
Microsoft BizTalk Accelerator for SWIFT integrates quickly and easily with SWIFT Alliance, providing global connectivity with SWIFTNet. It provides a comprehensive, reliable and highly secure platform for the delivery of financial messages, and integrates easily into KDPW's mainframe system.
"KDPW plays a leading role in the financial markets in Poland, and this implementation demonstrates its commitment to working toward a service-oriented architecture (SOA)," said Sheida Hadji-Ashrafi, worldwide industry manager, Payments at Microsoft. "Microsoft is transforming payments services, and BizTalk Accelerator for SWIFT allows KDPW to continue driving toward both a holistic enterprise approach and new efficiencies for customers in their global connections with SWIFT."
"As the primary organization for the facilitation of clearing and settlement in Poland, KDPW strives to provide its customers with the highest global standards, including those for full securities dematerialization," said Slawomir Panasiuk, member of the management board, KDPW. "We needed to implement a solution that would allow our customers the best and most effective solution for exchanging SWIFT transactions with foreign depositories, but that also took our future international growth plans into consideration. Microsoft BizTalk Accelerator for SWIFT allows us to provide this connectivity quickly and easily, and provides the flexibility for us to connect additional financial institutions from around the globe as our clients need them."
Microsoft BizTalk Accelerator for SWIFT integrates quickly and easily with SWIFT Alliance, providing global connectivity with SWIFTNet. It provides a comprehensive, reliable and highly secure platform for the delivery of financial messages, and integrates easily into KDPW's mainframe system.
"KDPW plays a leading role in the financial markets in Poland, and this implementation demonstrates its commitment to working toward a service-oriented architecture (SOA)," said Sheida Hadji-Ashrafi, worldwide industry manager, Payments at Microsoft. "Microsoft is transforming payments services, and BizTalk Accelerator for SWIFT allows KDPW to continue driving toward both a holistic enterprise approach and new efficiencies for customers in their global connections with SWIFT."
Tuesday, 16 September 2008
BankServ Introduces TurboSwift Suite
BankServ (www.bankserv.com) today introduced its TurboSwift Corporate Suite, a fully-hosted electronic messaging solution that enables corporations worldwide to make international payments and other financial transactions more secure and less expensive. The TurboSwift Corporate Suite combines the power and speed of a SWIFT service bureau model with an all-in-one solution providing essential payment mapping and bulk messaging capabilities to improve operations and cash management.
The SWIFT network has become the industry standard for international payment messages and is used by financial institutions around the globe to efficiently exchange critical financial information in a secure and reliable environment. However, many non-bank companies do not have the know-how or a cost-effective means to access the SWIFT network, and therefore overspend when making daily payment and financial transactions. These companies often employ disparate systems and protocols for electronic messaging related to payment and financial transactions, introducing an additional cost burden and preventing them from automating and integrating financial messaging with critical back-office systems. The TurboSwift Corporate Suite allows corporations to access the SWIFT network without having to maintain their own connection -- gaining the benefits of SWIFT access with none of the headaches and costs.
"Unlike many banking institutions, corporations do not have the capacity to support SWIFT protocols and requirements and very few leverage the full power that SWIFT messaging can bring to their business," comments Mary Ellen Putnam, BankServ's Vice President and General Manager, International. "BankServ's TurboSwift Corporate Suite connects any corporation to SWIFT, removing the technical headaches and high costs associated with setting-up an in-house connection. The TurboSwift Corporate Suite also enables integration with existing front- and back-office systems related to critical payment and treasury operations."
The SWIFT network has become the industry standard for international payment messages and is used by financial institutions around the globe to efficiently exchange critical financial information in a secure and reliable environment. However, many non-bank companies do not have the know-how or a cost-effective means to access the SWIFT network, and therefore overspend when making daily payment and financial transactions. These companies often employ disparate systems and protocols for electronic messaging related to payment and financial transactions, introducing an additional cost burden and preventing them from automating and integrating financial messaging with critical back-office systems. The TurboSwift Corporate Suite allows corporations to access the SWIFT network without having to maintain their own connection -- gaining the benefits of SWIFT access with none of the headaches and costs.
"Unlike many banking institutions, corporations do not have the capacity to support SWIFT protocols and requirements and very few leverage the full power that SWIFT messaging can bring to their business," comments Mary Ellen Putnam, BankServ's Vice President and General Manager, International. "BankServ's TurboSwift Corporate Suite connects any corporation to SWIFT, removing the technical headaches and high costs associated with setting-up an in-house connection. The TurboSwift Corporate Suite also enables integration with existing front- and back-office systems related to critical payment and treasury operations."
WealthCraft Deploys ATOMS for SWIFTNet
WealthCraft Systems has deployed ATOMS Enterprise for SWIFTNet Funds for ING Platform Services in Asia. Built on Microsoft BizTalk Server 2006, ATOMS Enterprise for SWIFTNet Funds is a gateway application which acts as messaging middleware for in-house unit trust applications.
It fully supports ISO20022 for funds and 100 per cent of available messages on SWIFT for the current SWIFTNet Funds Release 4 business solution. The gateway application takes advantage of BizTalk Server's robust industry- standard architecture and helps transform messages from different in-house applications into the corresponding SWIFT messages, and sends them via their own direct connection to SWIFT, automating the process of funds trading and achieving straight through processing (STP).
"By implementing fully automated STP transactions with their distributors, fund houses can greatly reduce risk and costs of operations while supporting rapid expansion of business growth and open architecture," said Eric Chua, SWIFT's Regional Head, Investment Fund Solutions. "ATOMS enables automation and scalability of mutual fund operations in financial institutions by significantly reducing the dependency on re-keying or manual intervention."
WealthCraft CEO Kelly Tallas added: "Financial institutions and ultimately markets have much to gain with straight through processing by reducing the complexity, cost and risk associated with processing domestic and cross-border trades and speeding the flow of standardised information to all parties involved in the mutual funds sector."
ING Platform Services Ltd (ING PS) was the first company to successfully deploy the ATOMS solution in Asia. Integrated with its existing WealthCraft Advisor Workbench (AWB) application, ATOMS provides ING PS with improved operational scalability for its I-WRAP services in Hong Kong and Singapore. I-WRAP, an integrated transaction recording, account keeping and valuation reporting service, consolidates and enables investors and their advisors to monitor their investments easily, with a broad menu of more than 1,000 mutual funds available for subscription.
Sheida Hadji-Ashrafi, worldwide industry manager for payments, Microsoft, commented: "Fund houses have found in Straight-Through Processing a way that helps them automate their processes and increase their efficiency and thus, respond to customers more efficiently. To do so, they need to have the right technology and Microsoft's commitment to the financial industry is to partner with leading financial technology firms to develop empowering solutions. WealthCraft's gateway application, which is built using BizTalk Server, offers financial institutions a secure and reliable platform and help them meet their clients' needs now and in the future."
It fully supports ISO20022 for funds and 100 per cent of available messages on SWIFT for the current SWIFTNet Funds Release 4 business solution. The gateway application takes advantage of BizTalk Server's robust industry- standard architecture and helps transform messages from different in-house applications into the corresponding SWIFT messages, and sends them via their own direct connection to SWIFT, automating the process of funds trading and achieving straight through processing (STP).
"By implementing fully automated STP transactions with their distributors, fund houses can greatly reduce risk and costs of operations while supporting rapid expansion of business growth and open architecture," said Eric Chua, SWIFT's Regional Head, Investment Fund Solutions. "ATOMS enables automation and scalability of mutual fund operations in financial institutions by significantly reducing the dependency on re-keying or manual intervention."
WealthCraft CEO Kelly Tallas added: "Financial institutions and ultimately markets have much to gain with straight through processing by reducing the complexity, cost and risk associated with processing domestic and cross-border trades and speeding the flow of standardised information to all parties involved in the mutual funds sector."
ING Platform Services Ltd (ING PS) was the first company to successfully deploy the ATOMS solution in Asia. Integrated with its existing WealthCraft Advisor Workbench (AWB) application, ATOMS provides ING PS with improved operational scalability for its I-WRAP services in Hong Kong and Singapore. I-WRAP, an integrated transaction recording, account keeping and valuation reporting service, consolidates and enables investors and their advisors to monitor their investments easily, with a broad menu of more than 1,000 mutual funds available for subscription.
Sheida Hadji-Ashrafi, worldwide industry manager for payments, Microsoft, commented: "Fund houses have found in Straight-Through Processing a way that helps them automate their processes and increase their efficiency and thus, respond to customers more efficiently. To do so, they need to have the right technology and Microsoft's commitment to the financial industry is to partner with leading financial technology firms to develop empowering solutions. WealthCraft's gateway application, which is built using BizTalk Server, offers financial institutions a secure and reliable platform and help them meet their clients' needs now and in the future."
Monday, 15 September 2008
VocaLink Launches SEPA Direct Debit Pilot
VocaLink, is launching a SEPA direct debit (SDD) pilot with BAWAG P.S.K., one of Austria's leading banks. BAWAG P.S.K. will bring the SDD business-to-business service to market by Q1 2009.
VocaLink has launched the SDD pilot to provide banks with an opportunity to test and validate a broad range of SDD services in advance of the scheme launch in November 2009.
Martin Wilson, chief commercial officer at VocaLink, commented: "We are delighted that BAWAG P.S.K. is extending its existing relationship with us. This decision illustrates the success of our SEPA services. Our SDD offering enables more than SDD compliance as it provides BAWAG P.S.K. with enhanced services such as payments capture. These services will reduce the bank's costs by capturing their clients' payments directly, removing the need for unnecessary intervention by the bank. Likewise, our mandate management services will minimise the bank's infrastructure and development costs by centralising critical mandate information on behalf of the bank and its clients. These services have been specifically designed to meet the needs of our client banks and will position BAWAG P.S.K. ahead of the market."
Joseph Laughlin, member of the management board at BAWAG P.S.K., commented, "We have been very impressed with the VocaLink SEPA Credit Transfer service and so deciding to join the SDD pilot was very easy for us. SDD will be the trigger for widespread European adoption of SEPA and our corporate customers will now get a chance to realise the benefits of SEPA early."
"Every bank will have to include SEPA-compliant offerings," adds Wilson. "These need to be supported by robust processes and systems that meet the requirements of the EPC rulebook. Our pilot provides a safe environment for testing SEPA direct debit and the migration to SDD. As such we believe it will be attractive to banks and welcomed by the EPC."
Joseph Laughlin, BAWAG P.S.K. adds, "The SDD pilot will demonstrate to our corporate customers that BAWAG PSK is ahead of the market and delivering the SEPA vision through SDD. The value added services such as payments capture, validation, mandate management, exceptions management, and debtor and creditor services will make a real impact with our customers."
VocaLink has launched the SDD pilot to provide banks with an opportunity to test and validate a broad range of SDD services in advance of the scheme launch in November 2009.
Martin Wilson, chief commercial officer at VocaLink, commented: "We are delighted that BAWAG P.S.K. is extending its existing relationship with us. This decision illustrates the success of our SEPA services. Our SDD offering enables more than SDD compliance as it provides BAWAG P.S.K. with enhanced services such as payments capture. These services will reduce the bank's costs by capturing their clients' payments directly, removing the need for unnecessary intervention by the bank. Likewise, our mandate management services will minimise the bank's infrastructure and development costs by centralising critical mandate information on behalf of the bank and its clients. These services have been specifically designed to meet the needs of our client banks and will position BAWAG P.S.K. ahead of the market."
Joseph Laughlin, member of the management board at BAWAG P.S.K., commented, "We have been very impressed with the VocaLink SEPA Credit Transfer service and so deciding to join the SDD pilot was very easy for us. SDD will be the trigger for widespread European adoption of SEPA and our corporate customers will now get a chance to realise the benefits of SEPA early."
"Every bank will have to include SEPA-compliant offerings," adds Wilson. "These need to be supported by robust processes and systems that meet the requirements of the EPC rulebook. Our pilot provides a safe environment for testing SEPA direct debit and the migration to SDD. As such we believe it will be attractive to banks and welcomed by the EPC."
Joseph Laughlin, BAWAG P.S.K. adds, "The SDD pilot will demonstrate to our corporate customers that BAWAG PSK is ahead of the market and delivering the SEPA vision through SDD. The value added services such as payments capture, validation, mandate management, exceptions management, and debtor and creditor services will make a real impact with our customers."
Consolidation into Single Transactions Underway Found By Misys
Consolidation of payments, cash and trade into a single transaction banking function is well underway as banks focus on growing their transaction banking businesses, but the delivery of a joined-up service is not there yet, according to research published today by Misys (FTSE: MSY.L).
The results of the research, undertaken by Misys and Finextra Research; the respected information source for the financial technology community, outlines the key challenges and actions being taken by banks to address this area.
IT complexity is seen as the biggest obstacle to transaction banking plans ahead of "domination of global banks", cited by 55% and 40% of respondents respectively. At the top of the list of technical problems that banks say their customers want them to solve are greater integration with corporate systems and delivery of cross-border, multi-currency cash pooling services.
The research found that a majority (57%) have already taken steps to restructure their organisations, bringing together trade services, cash management and payments services as a single offering. A further 19% have plans in place for specific transaction banking units within the next 12 months.
Despite these changes, 45% of respondents -- including half of those who have already restructured -- believe existing customers rate their services as no better than average, suggesting either that the new structures have yet to bed in or that other difficulties prevent them from reaching their potential.
"The research backs up what we have found from our own customers, comments Guy Warren, EVP and General Manager, Misys Banking. "In the current downturn in the financial industry, banks are searching for value-added banking services, which involve low capital usage but promise stable earnings and return on equity. There is a huge shift towards providing new and improved transaction banking services delivered online, so that they can both defend existing corporate business and win new customers. There is a fantastic opportunity for fast moving banks to create credible alternatives to the services offered by global competitors in their multinational heartland as well as going after the smaller corporates and SMEs who tend to operate under the radar of the global banks."
Adding new products and services to satisfy existing customers, and widening their appeal to the smaller customers are the top priorities for 39% and 33% of respondents, respectively. Offering new cash pooling offerings are particularly effective, with banks already seeing an average 14.4% increase in business as a result.
Although nearly half of banks in the survey said their overall 2009 IT budgets had been frozen, average spending on development of cash management systems and services is expected to increase by 8%. As the primary delivery platform for new services, the online channel is the main focus of IT spending. Cash forecasting, invoice and payment reconciliation and real-time payment tracking feature prominently in online investment plans of a third of respondents in the next 12 months.
Guy Warren adds: "Banks have either completed or are well on the way to completing the first stage in their transaction banking strategies. Stage two is about getting the delivery platform right, which is a matter of building viable online channels that feed smoothly into corporate systems. Only then can they deliver the integrated transaction banking services to satisfy both their customers' requirements and their own desire for growth."
The results of the research, undertaken by Misys and Finextra Research; the respected information source for the financial technology community, outlines the key challenges and actions being taken by banks to address this area.
IT complexity is seen as the biggest obstacle to transaction banking plans ahead of "domination of global banks", cited by 55% and 40% of respondents respectively. At the top of the list of technical problems that banks say their customers want them to solve are greater integration with corporate systems and delivery of cross-border, multi-currency cash pooling services.
The research found that a majority (57%) have already taken steps to restructure their organisations, bringing together trade services, cash management and payments services as a single offering. A further 19% have plans in place for specific transaction banking units within the next 12 months.
Despite these changes, 45% of respondents -- including half of those who have already restructured -- believe existing customers rate their services as no better than average, suggesting either that the new structures have yet to bed in or that other difficulties prevent them from reaching their potential.
"The research backs up what we have found from our own customers, comments Guy Warren, EVP and General Manager, Misys Banking. "In the current downturn in the financial industry, banks are searching for value-added banking services, which involve low capital usage but promise stable earnings and return on equity. There is a huge shift towards providing new and improved transaction banking services delivered online, so that they can both defend existing corporate business and win new customers. There is a fantastic opportunity for fast moving banks to create credible alternatives to the services offered by global competitors in their multinational heartland as well as going after the smaller corporates and SMEs who tend to operate under the radar of the global banks."
Adding new products and services to satisfy existing customers, and widening their appeal to the smaller customers are the top priorities for 39% and 33% of respondents, respectively. Offering new cash pooling offerings are particularly effective, with banks already seeing an average 14.4% increase in business as a result.
Although nearly half of banks in the survey said their overall 2009 IT budgets had been frozen, average spending on development of cash management systems and services is expected to increase by 8%. As the primary delivery platform for new services, the online channel is the main focus of IT spending. Cash forecasting, invoice and payment reconciliation and real-time payment tracking feature prominently in online investment plans of a third of respondents in the next 12 months.
Guy Warren adds: "Banks have either completed or are well on the way to completing the first stage in their transaction banking strategies. Stage two is about getting the delivery platform right, which is a matter of building viable online channels that feed smoothly into corporate systems. Only then can they deliver the integrated transaction banking services to satisfy both their customers' requirements and their own desire for growth."
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