FinIQ Structured Deposit System to be Deployed Across Standard Chartered Bank’s Global Operations

FinIQ Structured Deposit System will be deployed across Standard Chartered Bank’s global operations. The system that is being used in Singapore for past 2 years will now be rolled out to various other locations. The first phase roll-out includes Taiwan, Indonesia, Brunei, Malaysia, Japan and UAE.

Singapore (PRWEB) August 6 2006 -- FinIQ Consulting Pte Ltd announces that it has been selected as the provider of a global Wealth Structured Deposits solution at Standard Chartered Bank. The bank is already using FinIQ for its Singapore wealth management Premium Currency Investment (PCI) business for the past two years. The FinIQ system is live at all retail branches, international banking unit and the central dealing room. The system helps relationship managers to quote real-time executable prices for Premium Currency Investment (PCI) transactions.

Post deal-capture, the FinIQ system captures settlement instructions, generates confirmations and processes maturity. The solution has been integrated with various other systems including volatility surface, option trading system, retail banking platform, general ledger and MIS system. Under the global deployment initiative, the bank will now link its PCI businesses in Taiwan, UAE, Indonesia, Malaysia, Brunei and Japan to its Singapore hub. Relationship managers across these centers can now offer customers real-time pricing on transactions, with option risk centralized in the global book while customer deposits flow into the local retail banking systems.

Sutat Chew, Head, Investments & Treasury Products, Group Wealth Management at Standard Chartered Bank comments that, "The FinIQ System has helped the bank to improve the pricing and processing efficiency for its Premium Currency Investment business, ultimately benefiting our customers. The system installation in Singapore was performed in record time, and the bank has since integrated the solution with other core systems. Based on our requirements, FinIQ has further enhanced the solution to make it multi-entity compliant and we now expect to empower other global centres with the same real-time pricing capabilities. We also plan to extend the system deployment to include other treasury and structured deposit product types. The FinIQ solution allows us to enhance our service and deliver value through innovative solutions to our retail customers.”

Milind Kulkarni, Managing Director, FinIQ says, "Our key strength is our position to offer complex FX & equity option linked products on a retail oriented platform. Our flexibility to adapt to client inputs, quick turnaround time, ability to interface with other systems has helped our solution to grow as the markets evolve, and we believe that this is what allows us to build a robust retail-oriented platform for such emerging products. We are most pleased to support Standard Chartered Bank so that they deliver leading edge products and services to their customers. We believe that option linked deposits and investments are growing in popularity and we expect strong demand for our solution in coming years."

About FinIQ - The FinIQ System is being used at large financial institutions to manage retail treasury and structured deposits business. It has helped its clients to increase their profitability by reducing costs, creating automated controls and improving customer service. The solution is specifically designed to handle retail volumes and automates complete transaction workflow including pricing analytics, deal capture and customer settlement. FinIQ's product suite includes Dual currency deposits, Equity linked notes, Principal protected deposits, Tranche management, Order Management, Margin trading, FX spot, forward and option dealing, retail FX and SPAN margining."

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