Finantech tailors multi-solution

20 October 2008

A specialised unit of Portugal’s Millennium bcp, Millennium Investment Banking is one of the country’s most active and dynamic providers of investment banking, capital markets and brokerage products and services.

Throughout the years, Millennium Investment Banking has spearheaded the banking sector’s drive to participate in and improve brokerage activity, while facing a number of difficult and interesting challenges. In order to handle the constant changes and growing complexity of an expanding market, the bank began searching for a flexible, reliable, easy-to-deploy application that met the needs imposed by those demanding times. The search ended with Sifox, a solution for brokerage operations that exceeded initial expectations.

By choosing Sifox BackOffice platform, Millennium Investment Banking was able to leverage the total cost of ownership while adding to the feature set made available to its internal users. Working side-by-side with Millennium Investment Banking and considering its specific needs, Finantech tailored a versatile multi-currency, multi-country and multi-instrument solution, with specialised modules for brokerage, portfolio management, accounting interfaces and others.

With seamless migrations for Y2K and the euro, when the time came for the transition to Euronext stock exchange from the previous, local stock exchange Bolsa de Valores de Lisboa e Porto, Millennium Investment Banking again chose a Finantech solution. This time around Finantech delivered a middle/front platform, fully integrated with the existing Sifox BackOffice. Using these platforms together, Millennium Investment Banking has streamlined internal procedures, gained functionality and significantly reduced the time needed for critical market-related operations.

Today, Millennium Investment Banking has a straight-through processing-capable platform that is both flexible and reliable, enabling direct connectivity to a number of stock exchanges and brokers; a solution that is MiFID compliant, while catering to the different needs of its business area. Moreover, it is constantly evolving to further support and benefit the institution as a whole.

This article first appeared in the 2008 edition of the Finance on Windows Partner Guide.