Financial Objects, a leading supplier of software to the banking, wealth and energy sectors, announced a partnership with e-portals, a company focused on delivering innovative web-based treasury services.
This alliance will see Financial Objects integrate e-portals' technology into its Banking solutions, enabling clients to better monitor and manage risk.
As part of the collaboration, Financial Objects will enhance its banking software to include e-portal Ltd's "Exposure Alert" product; a real-time, exposure-tracking desktop suite that alerts users to anomalies during operations. The product consolidates the available data within a financial institution and applies external market data to derive key risk and exposure indicators. The user can then set personal parameters for alerts that they wish to be notified of, including gaps, liquidity, FX positions, hedge positions and VaR.
"A lack of operational transparency has contributed to many of today's high profile corporate failings," says David Carruthers, group technology director at Financial Objects. "The combination of these products means that our clients can be the first to find out about any operational transactions that require attention."
Hal Hovland, CEO at e-portals Ltd., and the key architect of Exposure Alerts believes that technology can be exploited to reflect the working practices of today's senior management. "The product optimises the new wave of Microsoft technologies; designed to use Silverlight and Windows Sidebar on Vista, or a proprietary program in XP. The product displays risks and exposures graphically, and allows drilldown for more detailed information. It is a perfect solution for today's busy executives."
Users in transit can also be alerted via SMS or to their Blackberry. The product is available to new and existing Financial Objects clients of ibis, ibis s2, activebank and Treasury via a simple interface to the alerting software.