New York, NY - July 31, 2000 - Financial Technologies International (FTI), pioneer of next generation real-time information solutions, announced today that WestLB Panmure, a pan-European provider of equities and investment banking services, has implemented FTI's streetmap. streetmap, the industry’s most comprehensive data model, provides a defined data structure that expedited WestLB Panmure's planning and development of an enterprise-wide database of counterparties, instruments and employee data for the bank’s London-based business.
"Even with highly experienced staff, financial data analysis leaves plenty of room for mistakes and omissions, and corrections are time consuming and expensive," said Steve Laing, head of development at WestLB Panmure. "streetmap not only saves us months of development time, but mitigates our development risk by providing a comprehensive, proven data architecture upon which our own applications can be written." Laing continued, "Since streetmap is multi-product and multi-entity, we consider it a strategic foundation for future growth because we’re able to build systems that deal with the complex and multiple relationships and hierarchies inherent in our business."
"WestLB Panmure is client-driven and focused on growth," said Predrag Dizdarevic, FTI's President and CEO. "As part of one of Europe's largest banks, WestLB Panmure knows the value of leveraging consistent and consolidated data storage. We are happy to be able to provide the data foundation for this powerhouse to deliver quality service and products to its customers and business partners."
Used by major firms from international banks to Web-based trading companies, FTI's streetmap has become the de facto standard data model in the financial services industry. Refined over a decade with best practices input from over 100 industry experts and data-modeling specialists, streetmap is the unifying data lexicon for enterprise data processing both internally and externally. streetmap creates the infrastructure for processing, storing and analyzing all financial transactions and reference data across the institution, enabling seamless, end-to-end processing. Additionally, streetmap supports multi-lingual, multi-product and multi-currency operations across all time zones on a 24 x 7 basis.
streetmap is currently used by over 50 industry leading clients throughout the financial services industry such as Deutsche Bank, Fischer Francis Trees & Watts, Intuit, and Merrill Lynch.