London - January 28, 2003 - Financial Technologies International (FTI), a leader in the emerging market for Financial Enterprise Software (FES), has
announced a strategic alliance with m.a.partners, a leading management
consultancy serving the global financial markets. The partnership will
ensure financial institutions receive the required combination of strategic
advice and project management from m.a.partners and state-of-the-art
financial enterprise software and product development expertise from FTI.
The new partnership will result in streamlined back office operations that
will provide financial institutions with major cost efficiencies. Financial
institutions, which are increasingly looking for a complete and effective
solution, will benefit from the combined services.
Michael Meriton, President and CEO, FTI, says: "With m.a.partners we can provide our customers with the key elements to reduce costs and strengthen
their back-office operations. Together, our aim is to create beneficial FES
solutions, comprising a common business process infrastructure allowing
end-to-end processing. This will help firms improve risk management and
increase revenue-generating opportunities while reducing their overall
FTI has the extensive product base and talented product specialists.
m.a.partners has flexible, highly skilled business consultancy and technical
resources that can be drawn on to complement FTI clients' in-house resources
The new agreement aligns two of the industry's foremost enablers of
back-office solutions and will focus on FTI's StreetEnterprise suite of
products through strategic initiatives, business and educational
Jon Moore, CEO, m.a.partners, says: "Our customers are increasingly looking
for a way to achieve STP, resolve reference data issues, improve risk
management and ensure regulatory compliance. Key concerns are ensuring
successful integration and realizing demonstrable value, particularly in
cross-architecture and cross-product environments. Our in-depth knowledge
of the financial markets combined with FTI's StreetEnterprise product suite
will offer institutions tangible results in these key areas."
Both companies will focus efforts on:
- StreetReference - which cleanses and consolidates data from multiple sources into a comprehensive reference data repository.
- StreetBooks - a source of integrated real-time financial information powered by a rules-based accounting engine.
- StreetActions - end-to-end corporate actions processing.
All StreetEnterprise solutions are based on StreetModel, a standard data model for designing and building information architecture. Recognizing the needs of today's global institutions, it supports multi-lingual, multi-currency and multi-time zone operations on a 24/7 basis.