Financial Objects restructures Activebank division

Source: Financial Objects

Financial Objects, a leading provider of advanced banking and financial services software solutions, announced today that the Investment Software Services Division of Wealth Management Software (WMS), acquired in May 2005, has been incorporated into the Activebank Division of Financial Objects plc.

As part of this move, the LISA suite of products is being renamed under the activebank brand.

The products formerly known as LISA Retail, LISA Pensions (including LISA Pensions for A-Day), LISA Portfolio Manager, LISA Commission Manager and LISA Child Trust Funds will be incorporated into the activebank Wealth Management Application Suite. Financial Objects' wealth management solutions now include: Wrap, Pensions, Wealth Manager and Client Reporting.

By combining both Divisions, LISA customers will benefit from a stronger support and maintenance team, along with the cost-competitive advantages of Financial Objects’ Off-Shore Development Centre in Bangalore. Other advantages include synergies across the activebank platform which will enable customers to take full advantage of the comprehensive component library to add further functionality, or build custom capabilities into their activebank solution.

Stewart Foster, Director, Activebank Division will continue to head up the enlarged division. He comments, "By integrating the ISS Division with Activebank, Financial Objects is providing a range of highly attractive wealth management products that are underpinned by improved customer support services. Our expertise in wealth management technology will ensure both LISA and activebank customers will benefit from advanced functionality that is unrivalled in the industry."

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