London, 6 October 2003 - Financial Objects, a leading supplier of advanced
technology banking software and services, today announced the launch of activebankv6, a comprehensive upgrade of its award-winning software. The release features new modules for CRM, trade finance and derivatives processing, as well as greatly extended functionality across the board. activebankv6 will be launched officially at this year's Sibos, which takes place from 20 - 24 October at The Singapore International Convention & Exhibition Centre, Singapore. Financial Objects will be on stand number 6034.
activebankv6 offers financial institutions a modern, flexible system for wholesale and retail banking. It delivers enhanced business agility, lower cost of ownership and unrivalled connectivity with internal and external systems. Users will also benefit from a dramatic boost to throughput - current activebank users report productivity gains of up to 60 per cent. The solution also comes with a full Software Development Kit. This tool allows banks and third parties to extend the core activebank capabilities, and to integrate it with their own systems through XML web services.
Steve Lane, group development director, Financial Objects, says: "The new modules for CRM, trade finance, and derivatives make activebankv6 one of the most comprehensive core banking solutions in the marketplace. As well as meeting the diverse business requirements of today's financial institutions,
its flexible component-based architecture will allow it to adapt and evolve
in line with future developments."
Lane continues: "We have extended and refined every activebank module, building on the strengths of activebank to offer financial institutions an agile, cost-effective and functionally rich system for wholesale and retail banking. As the world's foremost forum for financial technology, Sibos offers us the opportunity to demonstrate the benefits of activebankv6 to the international banking community."
activebankv6's CRM module is a powerful tool for improving client service and increasing sales. It enables users to predict and identify customer requirements, giving them instant access to client data and generating extensive reports to forecast sales, evaluate trends and identify new opportunities. The CRM module also features a leads management capability, allowing users to track and manage prospects throughout the sales cycle. As well as helping users to close sales efficiently and consistently, the tracking facility enables managers to monitor employee sales performance. This module also features tools to manage customer service requests, including automatic routing of service enquiries and a knowledge base of support articles and customer data.
activebank trade finance gives users a real time, integrated solution to manage the complete range of trade finance transactions, including commercial letters of credit, standby letters of credit, bank guarantees, collections, reimbursements, claims, loans, refinancing and letters of indemnity. Trade finance processing is notoriously paper intensive. activebankv6 is designed to minimise manual intervention, reducing the turnaround time and increasing productivity and efficiency.
The trade finance module automatically logs and stores all workflow statistics in a database, making it easy to create reports on work in progress, identification of bottlenecks and worker productivity. Thanks to the solution's state-of-the-art user interface and online search capability, users can also work more quickly and effectively. The module offers a high level of flexibility, allowing users to customise fields and transactions with a simple point-and-click procedure.
activebankv6's derivatives processing module was created in response to client demand for a product that combined derivatives pricing, capture and processing with full middle and back office functionality. activebankv6 sees the introduction of FX Over The Counter option's (OTC's) to this module with full support for Vanillas (American and European), Binaries (One Touch, No touch ....), Barriers, Barrier Binaries, Double Barriers and Asians. The module offers dealers real time calculation of the greeks for pricing trades and portfolios, immediate pre-trade limit checking and integration of portfolios for all traded instruments. This gives users an instant overview of their position and enabling them to make rapid and informed trading decisions. The module also features full straight through processing and risk management capabilities, boosting operational efficiency and reducing costs.