Financial Objects upgrades energycredit software

Source: Financial Objects

Financial Objects, a leading provider of software solutions for banking, wealth management and energy, today announced the launch of energycredit 2.0.

The company is unveiling the latest version of its award-winning global credit risk management solution at the International Energy Credit Association European Conference in Vienna from 17 - 19 June 2007.

energycredit 2.0 is set to build further on the success of its predecessor, energycredit 1.18, which is now used by 15 of the world's largest energy trading organisations, including Shell, Statoil, RWE, Constellation Energy, AEP, TXU and others. The new version of this solution will continue to give energy and utilities companies the ability to effectively capture, measure, monitor and report on credit risk and to model Potential Future Exposure dynamically. In addition, energycredit 2.0 provides a number of significant enhancements that include:
  • Improved user experience, due to a highly configurable web-portal, offering a complete thin-client browser based user interface for all the credit functions. This prevents the software having to be installed on each user's desktop and makes it easier to roll-out across an organisation;
  • Real Time Exposures. Version 2.0 makes it possible for various transactions to be entered at any point with the exposure results available in real time. Transactions might include new trades, pre-payments, letters of credit or cash deposits.
  • A liquidity analysis tool which allows users to run 'what-if' margining based on pre-defined scenarios from the analytics module and counterparty downgrades;
  • Upgraded web reporting with a richer set of functions to support the reporting suite. This includes enhanced paging, graphing, multiple export formats, fully customisable layouts and a new report designer;
  • A complete and comprehensive online help system, which also includes a powerful search function;
  • The latest Microsoft technology to enable updates to individual elements of the portal without the complete page load found in most traditional websites.

"This release marks a substantial leap forward for one of the most advanced solutions of its kind available in the marketplace today and demonstrates Financial Objects' commitment to its energy business," said Lee Campbell, director of product strategy at Financial Objects. "Now that it is available as a web portal, energycredit is even easier to install and use. Additionally its advanced capabilities will better equip our customers to manage credit risk effectively."

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