LONDON, November 04 2004: COR Financial Solutions (COR-FS), international provider of asset management and banking software today announced it has completed sales of its PARAGON product to two US banks.
PARAGON is a leading fixed-income portfolio/collateral management and
accounting solution that can be customized to meet the varying needs of banks
and fixed-income broker/dealers. The flexibility of PARAGON lends itself to being a true, straight-through processing system, creating operational efficiencies from front to back office among our bank and broker/dealer clients. Paragon’s data, analytics and integrated reporting provide the most comprehensive, singlesystem solution in the industry.
Pat Philpott, President, COR Financial Solutions, New York: "We are excited to
add two more prestigious institutions to our current user base. PARAGON was
selected over its competitors because of its strength in MBS and CMO processing
in one instance and because of it’s funding and collateral management in the
other. Two diverse business lines in two different institutions just validates the breadth of coverage within PARAGON. We look forward to providing a
comprehensive solution at both organizations. PARAGON’s flexibility helps our
clients in so many different ways. These two sales illustrate how PARAGON can
provide value in a number of areas. It is all built on our accounting and spreads out from there. PARAGON is capable of handling multiple products and business lines thus eliminating the need for multiple systems, spreadsheets and manual work arounds. We are pleased to provide value to two more clients."
The product coverage of the PARAGON Core System includes support for the full
range of variable rate instruments and early redemption features, and more
specifically, includes the following:
• Asset-Backed Securities
• Treasury Securities
• Other Fixed-Income Instruments
• Money Market Instruments
• Equity Instruments