FINTECS PARTICIPATES IN LAUNCH OF MICROSOFT
London: 24 January 2007 -- Fintecs, the independent
financial software vendor, is one of Microsoft's leading financial services
partners in the launch of its new package of MiFID solutions announced today.
Software tools developed by the Fintecs team will play a key role in the
important area of Planning and Testing for MiFID compliance.
Says Fintecs managing director Tony Gratton, 'We have worked closely with
Microsoft in the development of our MiFID compliance tools and are, of course,
delighted that Microsoft has included our offering as part of its package of
solutions. Equally we are delighted to be allied with other leading
Microsoft financial services partners such as Hewlett Packard and
SunGard in what will prove a crucially important compliance exercise for major
financial companies in the coming year.'
Microsoft Corp. announced the launch of a new package of Markets in Financial
Instruments Directive (MiFID) solutions for what it sees as the main problem
areas of MiFID: Planning and Testing, Client Classification, Best Execution,
Reporting, Market Connectivity, Reference Data and Trade History, Systematic
Internalization and Systems Integration. The eight
technology solutions, which can be offered as a complete package or as
individual components can be implemented according to a financial
institution's individual compliance needs.
According to industry research, it is estimated that over 4,000 financial
institutions will be affected by the EU directive and, with the deadline only
10 months away, a considerable number are still looking at ways to upgrade
their systems to ensure they comply with these new requirements.
"By working extremely closely with our partners we have developed an
offering that serves all financial institutions needs to comply with the EU
directive" said Ian Warford, director, Securities and Capital Markets at
Microsoft Financial Services EMEA. "And because Microsoft technology is
familiar to people working in financial institutions and easy to integrate
with existing IT systems, the total budget required to implement a solution
that ensures full compliance with MiFID is very cost effective."
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About Microsoft in Financial Services
Microsoft's Financial Services group helps financial firms leverage
technology to amplify the impact their people can deliver to drive business
success. We help our customers in banking, capital markets/securities, and
insurance achieve four business outcomes: develop relationships, drive
innovation, improve operations, and build connections. To do this, we focus
our products and technologies, and our work with leading solutions, services
and hardware partners, on key areas where we believe we and our partners can
deliver exceptional value - those areas include advisor platforms, channel
renewal, core banking, enterprise risk management and compliance, insurance
value chain, and payments. For more information, visit <http://www.microsoft.com/financialservices>.
Founded in 2001, Fintecs is a Banking IT consultancy and Independent
Software Vendor that combines in-depth expertise in Banking and the
Financial industry with a unique approach to the visual documentation of
systems, business processes and people.
Further information in at the Fintecs website www.fintecs.com
Tony Gratton, MD, Fintecs
Tel: +44 1395 260260
Jacqui Green, JGMpr
Tel: +44 20 8464 6462
Mob: +44 7885 270349