17 November 2009

Financial Architects and Microsoft have joined to offer Japanese financial institutions solutions that adhere to the International Financial Reporting Standards (IFRS).

Many countries and regions have recently announced their intention to adopt IFRS, which Europe started adopting in 2005. Japan has also indicated a policy obligating listed companies to adopt IFRS in their consolidated accounting, starting around 2015.

Financial Architects provides integrated business intelligence software solutions for financial institutions, enabling them to consolidate finance and risk management according to international accounting standards for financial institutions.

The company’s Financial Studio solution was developed using Microsoft Windows Server, SQL Server and .NET technology, and is the first finance resource planning solution in the industry. This solution’s data model is specialised for the financial industry, meaning it can deal with the challenges inherent in accounting, MIS, capital management, risk management and management reporting.

Under the new agreement, to help Financial Architects develop its solutions in Japan, Microsoft will perform joint sales and marketing activities as well as cooperate with the relevant partner companies in the area.

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