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FinApps builds new business partnership in Mauritius, providing solutions to the Wealth Management sector

Press Release 22nd May 2006

FinApps, the UK solution provider of the Troika range of wealth management software, has announced today that it has signed heads of agreement to appoint State Informatics Limited of Mauritius as an International Alliance Partner.

State Informatics Limited, a state-owned enterprise established in 1989, is today one of the largest IT companies in the Republic of Mauritius providing highly specialised services in IT systems development and implementation.

The signing took place at the STEP Indian Ocean conference in Mauritius last week. Alex Adams Head of Business Development at FinApps said “I am delighted to have the opportunity to work with State Informatics in Mauritius and in Africa. Their commitment to excellence in client service fits well with the Troika philosophy.” This was echoed by Kushan Naik General Manager of State Informatics who said, “It is very appropriate to announce this partnership at the STEP conference where one of the key themes is the use of Mauritius as a gateway for offshore investment. With our wealth of experience in the management and operation of information and communication technology, I am confident that we will offer world class wealth management solutions with Troika, both to a regional and an international client base.”

Mick Jones, Managing Director of FinApps said, “This partnership is right for us and for State Informatics. The Troika suite of software has moved beyond traditional UK and Channel Islands wealth management with its reliance on the trust as the main vehicle. We now offer modules that cover investment management and fund management. With fully integrated fund and client management administration and accounting we can offer an exciting alternative to OEIC, SICAV and SIPP managers. I am excited by the technical aspects to this partnership. Our new pending deal module for fund management is released in .NET and C# and with the excellence of State Informatics technical resources and their experience in client delivery I know they can help us reach a wider user base.”