Mr Mukesh Lulla, Manager (Marketing), Electronic Financial Network, Mr Ram Puppala, CEO, and Mr K.A. Shyam Sunder, Vice-President (Investments), at a press meet where FNSTAR Inc US launched its Indian subsidiary in Mumbai on Tuesday. FNSTAR Inc, USA has set up a wholly-owned subsidiary Electronic Financial Network Pvt. Ltd., in Hyderabad.
It plans to launch an integrated financial management system (IFMS) business solution for the financial services industry, particularly for stockbrokers. The system is intended to address the requirements of intermediaries in the retail trading of financial and investment products. IFMS which is based on straight through processing (STP) platform, integrates front, middle and back office functionalities and can be seamlessly integrated into the customers' operations. The system has the unique advantage of supporting multiple interaction channels. FNSTAR IFMS suite includes FN Broker, FN Portal, FN Back Office and FN CRM. "The system enables convergence of multiple financial instruments and delivery and interaction channels in a multi-exchange, multi-currency and multi-market environment,'' Mr Ram Puppala, CEO, FNSTAR Inc, said at a press conference on Tuesday. The company is launching FN Broker, a real-time integrated investment platform that provides an end-to-end STP solution to financial intermediaries. Intermediaries such as banks, financial institutions, depository participants, content providers, vertical portals and financial advisors can benefit from the FN Broker which a customer centric approach to provide single point end-to-end solutions. 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.