WealthCraft Systems Introduces ATOMS SWIFTNet Funds On-Demand.
HONG KONG -- The speed and security of funds transactions for Asian financial institutions has received a major boost with the introduction of ATOMS SWIFTNet Funds On-Demand by WealthCraft Systems Inc. (OTCBB:WCSY). This hosted transaction-automated straight-through processing Application Service Provider (ASP) solution allows financial services companies to securely send and receive SWIFTNet Funds messages without being a SWIFT member or installing any middleware onsite.
With ATOMS SWIFTNet Funds On-Demand, a financial services institution can send trade orders in its own format via a secure channel to WealthCraft. WealthCraft transforms the data into a SWIFT format and securely forwards the order to funds houses via SWIFT. WealthCraft then transforms and securely delivers SWIFTNet Funds messages to the institution in the institution's proprietary format.
"While the Asian fund industry has grown rapidly, funds processing still involves a high degree of manual intervention, including the use of fax machines, especially in the back office," says Kelly J. Tallas, CEO of WealthCraft Systems.
He continued, "WealthCraft's ATOMS SWIFTNet Funds On-Demand can help Asia's financial services institutions increase efficiencies in funds transactions, and boost market transactions through cost-effective automation as well as reduction of risk through the elimination of manual input and implementing a straight through process to the end user."
According to SWIFT, up to 90 percent of the 26 million mutual fund orders that are processed in Asia are still handled manually by fax and 80 percent of these are distributed by local banks. Thus, there is considerable room for markets to expedite a much larger number of funds transactions through automation.
ATOMS SWIFTNet Funds On-Demand delivers the following powerful features:
* Fast return on investment and low cost of ownership. There is no need for SWIFT connection onsite installation.
* Wide range of institutions can benefit, including banks, fund houses, IFA, and nominees.
* No SWIFT membership is necessary.
* Easy to implement.
* Comprehensive reporting and audit facility for processed messages addresses corporate governance concerns.
* Remote access functionality provides secure remote login to input, verify and approve SWIFTNet Funds messages manually.
* A dashboard screen to ease monitoring and administration processes and activities as well as the status and performance of the WealthCraft Gateway, the SWIFTNet connection and the private network connection.
To ease integration with legacy equipment and industry-standard architecture, ATOMS SWIFTNet Funds On-Demand is based on Microsoft([R]) BizTalk([R]) Server 2006, a business process management server that enables companies to automate and optimize business processes.
WealthCraft's ATOMS SWIFTNet Funds On-Demand was officially launched on July 18 at SWIFT Business Forum in Hong Kong.
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.
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.
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|Date:||Jul 19, 2007|
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