Jun 2014, Hong Kong
FinIQ announces that it has signed an agreement with another local bank in Hong Kong to implement the FinIQ wealth management solution. Terry Hung, FinIQ's regional head for Greater China adds, "This will be our 9th success in Hong Kong and 21st client site in the region, which covers China, Macao, Taiwan, The Philippines and Hong Kong. We are expecting to add at least 5 more new clients this year". The FinIQ system will improve pricing and processing efficiency of the bank's structured products business connecting relationship managers to the central dealing and operations teams via its electronic platform.
Over the past decade, FinIQ has successfully automated trading and banking workflows for various Hong Kong banks covering functionality such as Suitability, Product search, Liquidity Links, Volatility Surface Analytics, Option pricing, OTC and Notes Structuring, Subscription Handling, Termsheet, Documentation, Fixing, Life Cycle Events, Payouts, Corporate Action, Redemptions, Limits, Collateral, Margin Calls, GL Accounting, etc. These years have also seen FinIQ successfully interfacing to over 80 core banking and other satellite systems via the FinIQ Messaging Platform.
The product range used by FinIQ's Hong Kong clients is of a diverse variety and includes Equity Accumulator, ELI, ELN, CLN, Equity Basket, Range Accrual, Autocall, Quanto, Primary & Secondary Bonds, FX Spot, Forward, Options, Bullion, DCI, Exotic DCI, Digitals, Pivots, Multi-Currency Structures, FX Accumulator, Target Redemption and many other ad-hoc structures. FinIQ's core strength lies in its framework approach where product schema, building blocks, payoff, suitability, documentation and accounting can all be designed and configured by each bank to suit its own requirements. To complement this flexibility FinIQ also offers over 100 pre-set products as part of its standard off-the-shelf offering.