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Financial Software Systems Signs Marketing Pact in Brazil

Jose Carlos Passaretti and Antonio Vinhas’ Clearview Consulting and Financial Software Systems Announce a Partnership to Expand the Distribution of the Spectrum Treasury, Capital Markets and Private Banking System in Brazil

Financial Software Systems (“FSS”), producer of global Treasury and Private Banking software, announces a partnership with Clearview Consulting Ltda (“Clearview”).a leading provider of management consulting and customer support services to financial institutions in Brazil. Clearview Consulting was founded by Jose Carlos Passaretti (former executive from Cambio and Treasury Operations from Banco Fibra), and Antonio Vinhas former Chief Information Officer from Deutsche Bank S.A. The partnership agreement was completed on June 21, 2010.

The combination of Financial Software Systems and Clearview will provide many opportunities for Brazilian banks to expand their treasury and private banking capabilities and offerings. FSS’ products fully support the entire Spectrum of treasury and capital markets instruments for both cash and derivatives, including FX, Money Market instruments, Bonds and Equities. Spectrum provides full front, middle, and straight-through back-office processing, along with a robust suite of internet portals and web-publishing capabilities. Spectrum fully supports the treasury, capital markets and private banking activities of the bank as well as the activities of the bank’s customers.

“The partnership with Clearview will strengthen our presence in Brazil and further expand our product offerings” said Gerald Thurston, President of FSS. Gerald futher commented, “Clearview Consulting brings a wealth of business development expertise to FSS. We are excited by the opportunities before us in Brazil, and we know that Clearview will provide the personal and professional leadership required to further expand Spectrums’ global dominance by expanding our presence in Brazil. Passaretti and Vinha’s 30 years of experience within the financial market in Brazil are directly applicable to FSS. Our Spectrum Treasury, Capital Markets, Private Banking, and Web Portals are recognized industry-leading applications. With Clearview leading our Brazilian support efforts we look forward to
introducing our software to an increasing number of financial institutions in Brazil.”

Clearview Consulting was founded by Jose Carlos Passaretti (former executive from Cambio and Treasury Operations division from Banco Fibra which is positioned among the ten largest private banks in the national capital operating in Brazil by total assets.) and Antonio Vinhas (former Chief Information Officer from Deutsche Bank S.A. - Banco Alemão in Brazil, one of the most prestigious global banks in Brazil) in 2010. Together they bring over 30 years of professional financial industry experience. Clearview serves a wide range of financial institutions in Brazil as a consultant in Foreign Exchange, Treasury, Loans and Funding, and others financial services.

José Carlos Passaretti, CEO of Clearview remarked, “Spectrum brings to the Brazilian market a comprehensive system for front, middle and back office that can supply in one single platform all of the Brazilian Banks necessities, including full risk and cash flow management, accounting, data base integrity, reconciliation, and other Operational Risk and Basel II requirements. Spectrum is fully compliant with Brazilian financial instruments and the Brazilian regulation requirements and covers a wide range of international financial products within a robust platform. We are delighted with the opportunity this partnership provides for Clearview.”