UK banking software vendor Financial Objects has upgraded its component-based product, activebank, to include new modules for CRM, trade finance and derivatives processing. The new release will be launched at this year's Sibos conference and tradeshow in Singapore.
Financial Objects, which made a pre-tax loss of £1.2m in the first six months of this year, has committed to investing £1.5 million of additional funds over the next 12 months in an effort to arrest declining activebank sales.
The new CRM module provides instant access to client data and enables users to predict customer requirements. The tool automatically routes service enquiries and provides users with access to a knowledge base of support articles and customer data. The application can be used to generate reports and also enables users to track and manage prospects throughout the sales cycle - allowing managers to monitor employee sales performance.
The trade finance module manages a range of transactions including commercial letters of credit, standby letters of credit, bank guarantees, collections, reimbursements, claims, loans, refinancing and letters of indemnity. The system automatically logs and stores all workflow statistics in a database
Financial Objects says its new derivatives processing module was developed in response to client demand for a product that combined derivatives pricing, capture and processing with middle and back office functions. The tool also provides real time calculation of the greeks for pricing trades and portfolios, pre-trade limit checking and integration of portfolios for all traded instruments.
Activebank also comes with a software development kit which allows banks and third parties to extend the products capabilities and to integrate it with existing systems through XML web services.
Financial Objects is exhibiting from booth 6034 at Sibos this year.