Built on Microsoft Technology, ATOMS Automates Trade Execution for Strategic Advantage in Mutual Fund Operations
HONG KONG, Sept. 16 /Xinhua-PRNewswire-FirstCall/ -- WealthCraft Systems Inc (OTC Bulletin Board: WCSY), a leading IT solution provider for financial institutions, today announced the successful deployment of ATOMS Enterprise for SWIFTNet Funds for ING Platform Services in Asia. Built on Microsoft BizTalk Server 2006, ATOMS Enterprise for SWIFTNet Funds is a gateway application which acts as messaging middleware for in-house unit trust applications.
It fully supports ISO20022 for funds and 100 per cent of available messages on SWIFT for the current SWIFTNet Funds Release 4 business solution. The gateway application takes advantage of BizTalk Server’s robust industry-standard architecture and helps transform messages from different in-house applications into the corresponding SWIFT messages, and sends them via their own direct connection to SWIFT, automating the process of funds trading and achieving straight through processing (STP).
“By implementing fully automated STP transactions with their distributors, fund houses can greatly reduce risk and costs of operations while supporting rapid expansion of business growth and open architecture,” said Eric Chua, SWIFT’s Regional Head, Investment Fund Solutions. “ATOMS enables automation and scalability of mutual fund operations in financial institutions by significantly reducing the dependency on re-keying or manual intervention.”
WealthCraft CEO Kelly Tallas added: “Financial institutions and ultimately markets have much to gain with straight through processing by reducing the complexity, cost and risk associated with processing domestic and cross-border trades and speeding the flow of standardised information to all parties involved in the mutual funds sector.”
ING Platform Services Ltd (ING PS) was the first company to successfully deploy the ATOMS solution in Asia. Integrated with its existing WealthCraft Advisor Workbench (AWB) application, ATOMS provides ING PS with improved operational scalability for its I-WRAP services in Hong Kong and Singapore. I-WRAP, an integrated transaction recording, account keeping and valuation reporting service, consolidates and enables investors and their advisors to monitor their investments easily, with a broad menu of more than 1,000 mutual funds available for subscription.
Sheida Hadji-Ashrafi, worldwide industry manager for payments, Microsoft, commented: “Fund houses have found in Straight-Through Processing a way that helps them automate their processes and increase their efficiency and thus, respond to customers more efficiently. To do so, they need to have the right technology and Microsoft’s commitment to the financial industry is to partner with leading financial technology firms to develop empowering solutions. WealthCraft’s gateway application, which is built using BizTalk Server, offers financial institutions a secure and reliable platform and help them meet their clients’ needs now and in the future.”
“In addition, the WealthCraft solution can consolidate statements and manage consolidated customer portfolios, enabling financial advisors to spend more time in value-added customer service rather than compiling statements, and provide more opportunities to cross-sell to existing customers,” said ATOMS Product Manager, Danny Leung.
Detailed product information is available at
http://www.wealthcraft.com/Solutions/ATOMSEnterpriseforSWIFTNetFunds.aspx
About WealthCraft
WealthCraft Systems Inc. (OTCBB: WCSY) headquartered in Hong Kong SAR, is the parent company of WealthCraft Systems Ltd, an information technology company that designs, develops, markets and supports a flexible, scalable and secure technology platform for wealth management services to financial institutions, including investment advisory firms, securities brokerage firms, retail and private banks, mutual fund companies and insurance companies.
WealthCraft’s Advisor Workbench enables professionals to develop their wealth management business while its ATOMS Order Management provides an integrated back-office system providing order execution, order management and portfolio and commission management. WealthCraft’s products facilitate seamless implementation of the industry standard SWIFTNet Funds solution for automated mutual fund transactions.
ING Platform Services is part of ING Group, a global financial services company which offers banking, investments, life insurance and retirement services to over 85 million clients around the world, including Asia.
All product and company names herein may be trademarks of their respective owners.
This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on WealthCraft management’s current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to WealthCraft as of the date of the press release, and it assumes no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Further information on risks or other factors that could affect WealthCraft’s results of operations are detailed in the filings of WealthCraft with the SEC.
For more information, please contact:
Investor Contact:
Mr. Cliff Harkins
WealthCraft Systems Limited
Tel: +852-3586-8232
Email: cliff.harkins@wealthcraft.com
Media Contact:
Ms. Jennifer Shay
Upstream Asia Limited
Tel: +852-2973-0222
Email: Jennifer.shay@upstreamasia.com
