FinArch named one of the fastest growing companies for sixth year in a row

Ghent - 14 May 2009

Financial Architects (FinArch), international provider of a Finance Resource Planning (FRP) platform for the finance industry, today announced that, for the sixth consecutive year, the company has been awarded the ‘Trends Gazelle’ as one of the fastest growing companies in the region.

"Trends Gazellen 2009" is a unique platform set up by Trends, a Belgian business magazine, which awards fast-growing companies, the so-called "Gazelles". Based on a number of criteria, companies that are thought to contribute significantly to economic dynamics, create jobs, innovate, and exhibit creative entrepreneurship are nominated to receive this prestigious award.

Dirk De Beule, CEO of FinArch states, “Obviously, we are very honored to be a Trends Gazelle for the sixth year in a row. We are well aware that, in these challenging economic times, it is an incredible achievement to be selected among the fastest growing companies.” He adds: “This nomination is a demonstration of our great team, our added value and our continued focus towards our customers, the banking industry worldwide. I want to thank all stakeholders of our company for their efforts and contribution over the last years. This award will receive a place of honor alongside the awards of previous years. We had a very successful first part of the year with important new customer assignments around the globe. The business demand we see for our products will assure our growth ambitions for the coming years. "

Amid the current market turmoil the future remains positive for FinArch. In order to meet the growing demand for its Finance Resource Planning (FRP) platform and the company’s flagship Financial Studio with its risk and financial management modules, FinArch recently opened a new office in Dubai and doubled its business development team worldwide. A promising outlook stimulates FinArch to continue investing in R&D and in its personnel. FinArch recently increased its office space by more than 50 %. Further product developments are underway in advanced risk, financial management and finance transformation projects to address growing worldwide demand.

Financial Studio is the first fully integrated Finance Resource Planning (FRP) solution for banking and financial institutions. Financial Studio solves the specific needs of the finance sector and addresses all the factors involved in the convergence of risk management and accounting practices across all banking and financial disciplines. Financial Studio’s ‘out-of-the-box’ functionality, with its highly customisable modules and scalable database, allows for rapid deployment of any sized project, from small local implementations to full-scale enterprise-wide solutions on a global basis. A suite of generic, or foundation, modules underpin the power and security of the Financial Studio FRP solution. These include an industry standard data model, highly flexible multi-dimensional reporting hierarchies, powerful archiving tools, audit trail and historical information management, and rule-based engines.

Based on an open architecture, FinArch’s solutions allow for easily integrating with any existing banking IT systems, while easing the burden of regulatory reporting as it complies with the reporting requirements of central banks and monetary authorities all over the world. FinArch has been positioned by Gartner, Inc. as one of the leaders in the Magic Quadrant for Basel II software applications.

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