London, 6 October 2004 –
Finantix, the leading software vendor of
process-oriented, client-centric and
sales-driven financial components for
retail, private, corporate and financial
services firms, is pleased to announce that
Abbey has signed a deal with the company to
develop the online toolset for its wrap
service.
The contract, which initially runs for three
years, covers the implementation and
maintenance of an enhanced set of financial
tools for Abbey and is based on Finantix own
market-leading OneWealth™ product.
Abbey and Finantix are working together to
define the precise make up of an
Abbey-specific toolset that will encompass
risk profiling, asset allocation and
simulation tools that will be available to
advisers using Abbey Wrap, at no additional
cost.
Ambrose McGinn, Director Abbey for
Intermediaries said:
“We started with sixteen possible
providers and whittled that down to a
shortlist of six before identifying the top
three that we wanted to put through a full
technical evaluation. From that we selected
Finantix because of their understanding of
the financial services industry in the UK
and their track record in delivering
technically complex functionality that we
know will sit well with our existing
systems. They are recognised as experts in
the provision of advice tools and, at the
same time, their skills complement our
expertise in asset administration.”
Alessandro Tonchia, Co-Founder Finantix
said:
“We see this as further validation of the
functional excellence of our financial
planning solution and its ability to deliver
real value within an innovative Wrap
proposition. The stringent technical
requirements demanded by a framework as
advanced as Abbey’s were perfectly met by
our component-based approach and our
technical architecture. We are very proud to
have been selected to partner with Abbey in
pioneering the Wrap concept within the UK
market.”
About Abbey
Abbey is the sixth largest bank by assets
and the second largest provider of mortgages
and savings in the UK. The product range
include personal financial products and
services including mortgages, savings,
investments, banking, general insurance,
life assurance and commercial banking
including asset financing, commercial
lending operations, securities financing and
risk management activities.
The Wrap service is provided by Abbey
National Wrap Managers Limited. Abbey
National Wrap Managers Limited is owned by
Abbey National plc (Registered in England
no. 2294747) and is authorised and regulated
by the Financial Services Authority.
About Finantix
Finantix develops component-based software
that enable financial institutions to better
service clients, increase sales and optimise
multi-channel delivery organization. With
offices in Helsinki, London, Milan, Munich,
Singapore and Venice, Finantix provides
process-oriented, client-centric,
sales-driven financial components for
retail, private, corporate and financial
services including: retail advice and
financial planning, branch innovation,
lending and mortgage origination, financial
relationship management, wealth management
and private banking, bancassurance, mutual
fund supermarkets, brokerage and internet
banking, SME and corporate banking advisory
services.
Leading financial institutions such as
Standard Chartered Bank, Bank of China,
Dunfermline Building Society, Credit Suisse,
Friesland Bank, Banca Popolare di Milano,
Banca Intesa, Kookmin Bank, Banca Lombarda
among others selected Finantix solutions to
turn their delivery organization into a
sound orchestration of human and technical
resources that innovates branch servicing,
improves advice capabilities, increases
sales productivity and supports customer
satisfaction.
Finantix Components follow a consistent
approach that leverages a client-focused,
enterprise-wide data model. They adopt a
flexible process and workflow management
architecture with specific attention to
reusability, process assembly and
customization capability across multiple
business channels. A set of Model Driven
Architecture and J2EE compliant development
tools, offers to Finantix Components clients
complete ownership options, Rapid
Application Development capabilities, strong
maintenance and ownership cost-reduction,
with full control on multi-channel and
branch renewal projects. Finantix Components
have been smoothly integrated with many
proprietary legacy systems and standard
back-end products allowing financial
institutions benefit from a front-to-back,
proven integration that eliminates all risks
and costs related to expensive and time
consuming integration activities.
High reputable market analysts -
Datamonitor, Forrester and Celent amongst
others -have recognised Finantix as one of
the most relevant financial services
software provider in Europe and Asia thanks
to the end-to-end product coverage and the
solid architecture of its solutions. In 2003
Forrester ranked Finantix solution as the
leading European Advisors Planning Tools.
For further information please contact:
FINANTIX Ltd - London
Roger Brooker
Business Development Manager
Tel. +44 (0)20 7423 3739
Email:
roger.brooker@finantix.com
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