SunGard buys Financial Technology Integrators

SunGard buys Financial Technology Integrators

SunGard has acquired the assets of Philadelphia-based Financial Technology Integrators (FTI), which provides Web services applications to banks, trusts and investment firms. Financial terms of the deal were not disclosed.

Founded in 1999 FTI provides portfolio management, pre-trade compliance, regulatory compliance, integrated performance reporting and modelling systems in a Web services environment.

SunGard says FTI - which will become part of its wealth management unit - provides ASP-based products, data integration and services that help lower costs and increase return on investment for mission-critical operations.

FTI's services combine financial data from legacy systems with a Web-based application to enhance and streamline investment processes and workflows.

"Investment managers are facing a new set of complex challenges in managing their businesses," says Kevin Rafferty, president of SunGard's wealth management business. "In order to help our customers excel in this changing environment we are pleased that FTI has become part of SunGard's growing wealth management business."

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