NEW YORK â February 7, 2005 â Financial Technologies International Inc. (FTI), a global software provider of Enterprise Data Management (EDM) solutions to the securities and financial services industry, today announced a strategic decision to rename the company GoldenSource Corporation. The renaming of the company more accurately reflects the companyâs long-term heritage of providing data centric solutions and its unique ability to solve some of the industryâs biggest challenges in deploying global EDM platforms. The new name also aligns the company with its recently unveiled GoldenSource Enterpriseâ¢ product suite, which provides a single source of trusted data, on a real-time, integrated platform.
The data management and business solutions delivered under the GoldenSource brand are a result of $250M in research and development investments over the 20-year lifetime of the company. GoldenSource is successfully in production at many leading global financial services firms and is deployed in multiple lines of business including: investment banking, broker-dealer, asset management, private banking, wealth management, depository, custodial and securities services operations.
GoldenSource transforms a financial institution from multiple disparate master files and incompatible systems into an integrated financial enterprise, without the costly replacement of legacy systems. Customers benefit from a system that standardizes, repairs, stores and aggregates data from both disparate market data vendors and a multiplicity of silo transaction systems. As a result, GoldenSource becomes the "single source of truth" for a companyâs securities (products), customers, counterparties, positions and transaction data.
"Enterprise data management is finally becoming a reality among leading financial services companies as more institutions are investing in core infrastructure to bring visibility and consistency to data that flows from external sources and throughout the enterprise." said Tim Lind, senior analyst, TowerGroup. "Solutions in the marketplace are also transforming themselves and are rising to the challenge of meeting the complex requirements of these data management initiatives."
The new GoldenSource company name is the result of a three-year effort led by Mike Meriton, president and CEO and represents the complete transformation from a customized technology toolkit offering, into a comprehensive software product company delivering a rapid customer return on investment.
GoldenSource connects and powers the entire range of transaction and decision systems spanning: front office, client service, risk, regulatory, compliance and back office functions. GoldenSource improves information quality and efficiency and delivers a substantial return on investment by reducing operational costs, as well as, supporting strategic enterprise risk management and revenue generation initiatives.
"As a total EDM solution, GoldenSource is driving the long-awaited industry change in how institutions manage data and power their enterprise applications," said Mike Meriton, president and CEO of GoldenSource. "Organizations around the world have seen how poor data leads to missed opportunities, customer defection and higher costs, as a result GoldenSource EDM solutions are being installed to consolidate company data at an enterprise level to gain a substantial competitive advantage."