New York, NY - June 12, 2000 - Financial Technologies International (FTI), the world’s leading provider of next generation real-time information applications, today announces its new "street" solutions product line. FTI’s "street" solutions comprehensively address the industry-mandated challenges faced by today’s financial services providers such as e-commerce, T+1 settlement, decimalization and true global straight-through processing.
FTI's innovative rules-based "street" solutions provide data standards, real-time transaction and market data consolidation, and operational accounting efficiencies for the financial services industry with applicability across key industry segments, including capital markets, asset management, retail sales and trust & custody. FTI's customers include global financial institutions and emerging e-businesses with specific need to create a flexible, robust infrastructure that can support innovation and scalability at the speed of e-business.
"FTI is the only financial software company currently positioned to help large financial institutions transition their tremendous investment in functional legacy technology into a new and more robust infrastructure without trashing the thousands of person-years invested in creating proprietary differentiating applications," says Larry Tabb, TowerGroup's Group Director of Securities & Investments. "FTI's solutions are designed to off-load and centralize enterprise information facilitating the upgrade or redesign of a firm's IT infrastructure."
"The industry challenges faced by financial services providers today are not only about optimizing current processes, but are about fundamentally re-engineering the way financial data is captured, updated and distributed to customers," says Predrag Dizdarevic, FTI's President and CEO. "Real-time financial information is no longer a distinguishing value-add feature, it is a necessity for financial control and operational efficiency. Institutions need to either adopt a tactical migration path from legacy systems or strategically re-engineer their infrastructure to one that is flexible and robust enough to quickly scale to future business and IT needs."
FTI's re-branding efforts are further defining FTI as an independent software company building products with an unsurpassed level of business knowledge and experience, bringing quick-to-market solutions with rapid ROI benefits to a broad range of financial services providers that are grappling with the challenges of the New Age Economy.
FTI's innovative "street" solutions include the following products and services:
· streetmap Formerly known as the Global Financial Data Model (GFDM), FTI’s streetmap is considered the industry’s standard data model for designing and building information architecture and solid data migration strategies. streetmap facilitates application interoperability, performance, data consistency and customer connectivity. Supporting multi-lingual, multi-currency, multi-time zone operations on a 24x7 basis, streetmap can streamline or reorganize domestic and global operations.
streetbooks - FTI's streetbooks is an enhancement of the former FTI product, The Box. streetbooks, a single source of consolidated real-time financial information, is the world’s most comprehensive accounting and operational platform. streetbooks provides total consolidated financial information throughout every business line within an enterprise. streetbooks' unique horizontal functionality is made possible by two main components: a financially intelligent, rules-based accounting engine, and a proven, comprehensive global financial data architecture. Internal and external users alike are provided with immediate access via the Internet to the financial details needed for fully informed financial decisions, customer service, and daily operations. streetbooks empowers financial services providers to drive their businesses.
streetledger - FTI's new global financial markets subledger is a powerful rules-based financial control solution which processes and consolidates transactions in real-time and integrates with industry leading financial software such as Oracle, PeopleSoft and SAP’s general ledgers. Complete with drill down and roll-up audit capability, streetledger delivers timely, accurate and consolidated information and eliminates costly and time-consuming reconciliation.
streetdata - FTI's global securities master, streetdata, is a financial software solution for the management and consolidation of all securities information financial institutions require such as, indicative data, prices, corporate action announcements, analytics and reference data. streetdata is a cost-effective securities data management system, reduces operations and systems overhead by automating manual work and eliminating redundant processes like acquisition, validation, consolidation and distribution.
streetalliance - FTI's partnership program, streetalliance, extends the company’s real-time information solutions to a growing base of clients worldwide. Strategic alliances with Big Five consulting firms, leading technology market leaders, and specialized services companies further demonstrates FTI's commitment to the financial services industry in providing expertise and e-business innovation with solid, professional support and implementation services.