Financial Express.com, Hyderabad, February 8, 2001

Fnstar Inc, the US-based solutions provider for global financial services industry, has launched its Indian subsidiary- Electronic Financial Network Private Limited (EFN - here on Wednesday.

Addressing the presspersons, Mr Ram Puppala, chief executive officer, FNSTAR, said that the Indian subsidiary will focus on its flagship business solution - Integrated Financial Management System (IFMS), which addresses the requirements of financial intermediaries in the retail trading.Based on a Straight Through Processing (STP) platform, the IFMS integrates front-office, middle-office and back-office functionalities. It also has the unique advantage of supporting multiple interaction channels (WAP, Web, branch office, telephone and sub-broker), he said.

The IFMS will be available as an end-to-end solution or in the form of individual components, Mr Puppala said, adding that it also inherits the value proposition of FNSTAR's Global Solution Framework (FSF), which enables convergence of multiple financial instruments and delivery/interaction channels in a multi-exchange, multi-currency and multi market environment. To mark the launch of subsidiary, the company has also launched the first component ofIFMS - FN Broker on Wednesday. FN Broker is a real-time integrated investment platform that provides an end-to-end STP solution to financial intermediaries.

About FNSTAR:

FNSTAR, headquartered in Englewood, CO, is a global provider of IT solution and services to the Financial services and Telecommunication industry. FNSTAR provides Offshore management consulting services for the telecommunication and financial services industry and a comprehensive suite of integrated software solutions created for retail financial institutions such as banks, brokerages and insurance companies.

FNSTAR's solution has been successfully deployed at tier 1 financial service corporations; and, enables them to offer a complete line of retail investment products while managing supporting activities such as portfolio management, record keeping, regulatory compliance, risk evaluation and management, clearance and settlement.

FNSTAR Integrated Financial Management Solution (fn*IFMS) provides brokerage house, banks with one stop solution brokerage solution for front office, middle office, internet trading, power trading, and correspondent clearing. Financial institutions can replace their legacy systems or expand globally with the integrated brokerage solution. FNSTAR’s cross border trading solution (fn*CrossBorder) enables financial institutions to execute cross borders trade in seamless way taking into account the cross border regulation, compliance, currency and account ownership.

FNSTAR's cross border trading solution (fn*CrossBorder) enables financial institutions to execute cross borders trade in seamless way taking into account the cross border regulation, compliance, currency and account ownership.

FNSTAR offshore management consulting services includes developing a viable offshore strategy for the company, performing program management and IT delivery services. There is a myth that Offshoring delivers dramatic cost savings whenever projects are off shored using the lowest cost vendor. FNSTAR insists that organizations must also take into account the TCO (Total Cost of Ownership), IT budget, business drivers, added cost of offshoring related to knowledge transfer, logistics, data security, service levels, IT processes integration, long term strategy of the application, and long term strategy with the vendor.