Software solutions in the past have traditionally evolved as either banking systems or financial markets systems. Near-zero interest rates that have lasted for over a decade have pushed retail banks to offer more and more market linked products. FinIQ was an early adopter of the philosophy that banking and markets are meant to co-exist. We believe it is only the organisational and system constraints within banks that have kept them apart. We worked towards the confluence. We were one of the first applications at the turn of the century that linked branch bankers with financial market traders.
Banks prospered from these products, but the increased volumes and complexities were not matched by the prudence in sales practices, which led to the financial markets crisis. FinIQ clients were better poised to deal with increased compliance requirements due to the readiness of the FinIQ software.
After branch distribution and compliance, the 3rd wave in recent years has been best-price execution. FinIQ's Market-Connect offerings link our clients to leading market makers for FX and Equity linked products. We do not just stop at dealer-to-dealer connectivity. We let you connect your client-facing bankers to your price providers, making order management and execution even more efficient.
The product complexity at the front has to be matched by the back office processes, as it creates a flurry of option expiries, redemptions, advices in the event of large market movements. FinIQ product design framework addresses the nitty-grities of fees, payouts, redemptions, exercises, accounting, documentation, corporate actions and settlements, making it scalable from front to back.
Having established itself in the market-linked OTC and investment products, to make its offerings more wholistic, FinIQ further added fixed income bonds, deposits, retail and commercial FX, cash equity and mutual funds. Today we take pride in being one of the only live end-to-end multi-asset platforms that reach to the retail bankers, traders, operations and soon the end-clients.
FinIQ is a packaged software product company with its head-office in Singapore and branches in India, Hong Kong, Malaysia, Australia, Taiwan, Thailand and the UK. We are a production-proven platform, having worked with 30 banking groups and over 80 of their banking units since we first went live in 2003. We connect seamlessly with core banking, treasury risk, accounting, client master, login security, eCommerce, regulatory, data warehousing and other systems to give an integrated platform. We offer on-premise software licenses based on Microsoft web technologies. In 2014, we also launched our SaaS offerings and have already gone live with two large clients.