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Financial Technologies expands into the Asia Pacific Region …Company adopts Israel’s ‘Product Business model’ to globalize.

Financial Technologies (FTIL) starts Singapore Business operations as the hub for its A-PAC expansion. Finalizes Australian operations from Sydney.

April 16, 2002 - Financial Technologies (India) Ltd. (FTIL), a technology specialist company delivering mission-critical technologies for the global STP space, has expanded its international operations with the opening up of A-PAC regional operations at Singapore. This is in line with the Company’s strategy to have a significant presence in A-PAC to take advantage of the new technology deployment opportunities coming up in the region. The Company’s entry into the Australian market from Sydney, which is the hub of Australian financial district having Australian Stock exchange (ASX) & major Investment banks, ensures good business potential.

In addition to its existing Global Product Development center in India, theCompany, like Israel’s Global Product Business model, has successfully established the Indian market as a proof-point for its technologies and as the next step has started opening the business offices in the major global financial hubs. The entry into the global markets would be through strong business alliances having a proven track record with premium client base and responsibility of marketing and implementation, through which FTIL proposes to establish ground presence for its technologies / products in these key markets. For Indian Product companies looking at establishing a mark in the international markets, the ‘alliance’ model is the best strategy to break into the global accounts.

FTIL is seriously evaluating opportunities to establish marketing alliance with like-minded partners in Australia having synergistic business model, similar to its tie-up in Singapore with ‘KEYSTONE’, an alliance of Compaq, Intel & Microsoft.

Commenting on these developments, Jignesh Shah, Managing Director & CEO – FTIL, said, "Commencement of our A-PAC operations, represent an important milestone progress in taking our products to the global securities industry. This presents strong growth opportunities for FTIL which, combined with our presence in the US, gives us the necessary spread in evolving a multi-pronged marketing strategy for our products in different geographies."