FINANCIAL SOFTWARE SYSTEMS ANNOUNCES STRATEGIC ALLIANCE WITH i-flex TO PROVIDE A COMPLETE TREASURY SOLUTION

Financial Software Systems, the U.S.-based developer of Spectrum, a comprehensive Treasury System, has announced a strategic collaboration with i-flex solutions limited, a world leader in technology solutions for the financial services industry. The partnership of i-flex and Financial Software Systems yields a seamless solution that provides financial institutions with an end-to-end treasury application system that features straight-thru processing.
i-flex provides financial institutions pre-packaged products, custom solutions, consulting services, and offshore development facilities. i-flex's flagship product, FLEXCUBE, caters to core processing for retail and corporate banks, investment banks, mutual funds, and brokerages, and has been deployed at leading financial institutions across the globe.

Financial Software Systems is the developer of the Spectrum Treasury System, a foreign exchange and interest rate risk management system. Spectrum provides electronic and manual deal capture, real-time profit and loss calculations, real-time portfolio risk analysis, and counterparty, country and currency limit controls. Financial Software Systems has installed and maintains Spectrum at many of the leading banks, brokerages, corporations and investments funds around the world.

The partnership between Financial Software Systems and i-flex offers a compelling proposition for an end-to-end treasury application, combining Spectrum’s front- and middle-office modules (for deal capture and risk management) along with FLEXCUBE’s treasury back-office processing capabilities. FLEXCUBE is ranked among the world’s top-two selling wholesale back-office banking systems (International Banking Systems, UK 1999 and 2000). i-flex’s incorporation of Spectrum as a Front-Office system provides users a completely integrated application for trading, risk management, and life-cycle processing for a wide range of financial instruments such as FX, Money Markets, Fixed Income, and Derivatives.

R. Ravisankar, CEO – International Operations and Technology - i-flex, stated, "We are delighted to partner with Financial Software Systems. Its Spectrum product enhances our basket of offerings which will truly add value to our financial institution customers globally."

Gerald Thurston, President of Financial Software Systems, stated, "The coupling of our companies’ products is a testimony to the capability of both Spectrum and FLEXCUBE to easily integrate with other systems. Our combined system optimizes our respective strengths and enables our clients to benefit from the knowledge, experience, and resources of two industry leaders. The tight integration of FLEXCUBE and Spectrum provides clients with a powerful and reliable tool that provides straight-thru-processing in a high volume environment."

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