Indian-based investment technology firm Credence Analytics has launched a new application development platform for the delivery of workflow and collaboration services using instant messaging technology.
Mercury-fx, the first application developed by Credence Analytics using the Windows-based platform is aimed at forex treasury operations.
The company says Mercury-fx acts as a workflow bridge between the front office, back office and the authorised dealing branches of the bank. It allows real-time sharing of information, mapping of the specific processes and business logic of the trade services operations of the bank, transaction reporting to HO and confirmation exchange of authorisations and deal processing. It also delivers support for reconciliation between branches and HO including Swift reconciliation.
Credence Analytics says it is currently demonstrating the Mercury-fx prototype to various banks.
The Munbai-based company believes the Mercury platform could also be used to develop similar workflow-type applications in the areas of treasury management, risk management, ALM management, trade finance, and cash management.