Modelity Technologies and Finactu announced today that they have begun a strategic collaboration working together on several projects in the Nordic region. The projects will significantly upgrade the financial solutions of structured products deployed at some of the leading Scandinavian financial institutions.
Ayal Leibowitz, Modelity’s Vice President Sales, said “After some hard thinking, we have arrived together at a joint value proposition which is unbeatable for value and quality. We both benefit by each contributing from our complementary areas of particular expertise. We now offer a comprehensive system, a fully integrated solution which is customizable to the needs of every client.”
Sami Järvinen, Finactu’s Managing Director, adds “We all knew that our businesses have devised uniquely valuable technologies for structured products processes and management systems, so our teams have a lot of respect for each other as we have overcome similar challenges. This cooperation will also help us to set up a joint and permanent local presence in the Nordic region which will provide extensive onsite implementation and support. ”
Modelity launched the latest version of Modelity/Structures, a structured products management solution, last June. At the heart of its technology is a unique, fully scalable financial engine that has been utilized within their other successful products, such as Modelity/Advisor, a high-quality tool for Financial Advisors. Finactu have been providing solutions in the area of structured products since 2004. Their product for the management of structured products business and product life cycles, SP Agent, was released in 2006. SP Agent enables clients to manage the business: defining bond issue details, booking trades and tracking payments and positions.
Modelity and Finactu look forward to releasing more details about their joint ventures in the near future.