New York, NY (PRWEB) March 01, 2012
Xtiva Financial Systems, a leading provider of enterprise compensation solutions for the financial services industry, today announced that the company has successfully processed payments on more than one billion transactions. Xtiva, founded in 1998, serves the retail wealth management, institutional sell-side brokerage, and correspondent clearing segments of the financial services industry. The company has grown its data center operations in direct response to new client acquisitions as well as increased trading volumes from its existing clients.
“When Xtiva started over 15 years ago, we were sending diskettes in the mail to our deployed clients throughout the U.S. No one imagined growing the business to the point where we were processing 20 million transactions per month in a state-of-the-art data center,” said Thomas Moysak, Chief Executive Officer at Xtiva. “We have been very fortunate that we have been able to create products and services that our clients, both small and large, find valuable. Today, our products can handle the volumes of some of the world’s largest and most sophisticated financial services providers.
“As we look to the future, the scalability of our data center operations is a key competitive advantage. We are continuing to invest significant dollars in expanding our production data centers to meet the forecasted growth of our client business,” said Rob Kenig, Vice President of Operations at Xtiva. “I am very proud of what we have built and the fact that our clients trust us with their critical compensation data.”
About Xtiva Financial Systems
Xtiva Financial Systems is a leading provider of hosted solutions for the brokerage industry. Founded in 1998 and based in New York City, Xtiva has developed state-of-the-art technologies that enable retail and institutional broker/dealers to streamline operations, from sales compensation and production reporting to supervision of advisor licensing and compliance issues. Every day more than 250 firms and 50,000 people rely on Xtiva for compensation management and reporting services. With strategic financial service industry alliances, Xtiva is the leading provider of sales compensation solutions to the brokerage industry. The firm’s clients include American Portfolios, Ameriprise, AXA, MetLife, Mutual of Omaha, New England Securities, Sterne Agee Financial and RBC Wealth Management. For more information about Xtiva, visit http://www.xtiva.com.