Sydney, Australia, June 1, 2004 – Financial Models Company Inc. (FMC), a leading provider of technology solutions and services to the investment world, today announced that Wilson HTM Services Ltd (WHTM) have gone live with their integrated asset management solution from FMC Software Pty Limited, FMC’s Australian subsidiary. After a thorough review of systems available to replace their legacy platform, WHTM selected the FMC solution last October.
WHTM selected FMC to replace its previous system, which placed a number of restrictions on their operations in terms of capacity for rapid business growth, predominantly the lack of STP in the processing they were carrying out. "We worked with FMC to establish better, more streamlined processes to support our business needs, said Paul Bryant, Head of Financial Planning at WHTM.
"I am very pleased with the way the system deployment has been carried out - FMC have worked very hard to achieve the deadlines we set and provide us with a customised platform to extend our range of offerings in 2004. We set some pretty aggressive project timeframes to ensure that we could get off our previous platform as quickly as possible and start taking the business forward to where we wanted it to be", continued Bryant.
Part of the project hinged on interfacing WHTM’s installation of the GBST Shares™ back office system to the FMC portfolio management platform, in order to provide tax accounting for managed client portfolios, also traded on the Shares system.
"GBST were open to providing assistance to interface their system to FMC’s", said Enda Mahoney, Managing Director of FMC Software. "Now we’ve got a streamlined interface in place for WHTM, which has mapped transaction types and values from one system to the other. Instead of simply reviewing files of data coming across from Shares, the exception processing tools within FMCRecon™ can be used to manage any data exceptions and create cases for resolution so our two systems are always in sync. It is a much more robust environment," adds Mahoney.
Stephen Lake, Chief Executive Officer of GBST commented that, "we are delighted to support Wilson HTM in the deployment of their new investment portfolio platform". He continued that, "by working with FMC to provide integration between both systems, the portfolio information will now always reflect current values. We are committed to maximising the usability of Shares across our clients’ business applications by providing interfaces to external systems".