The ObjectWay Group was chosen by SEC SERVIZI as a software vendor partner, to provide financial services, in compliance with the MiFID Directive, to the private customers of the banks serviced by SEC

Milan, 31 August 2010

The ObjectWay Group, a leading Italian company specialising in software development, services and solutions for financial operators and companies in Italy and Europe, was chosen by SEC SERVIZI (www.secservizi.it), a consortium of Italian banks, as a partner to provide financial services to private customers of SEC’s client and member banks via the ObjectWay Financial Suite (OFS), in compliance with the MiFID Directive.

The ObjectWay Financial Suite (OFS) was selected by SEC SERVIZI after an extensive evaluation of the market conducted by carefully analysing the solutions and their ability to meet the needs of customers, as well as non-customers. The solution is currently being installed and integrated with the Secnew outsourcing platform and will soon be available with various customisations for differentiating the business of SEC's Customer and Member banks.

The need to identify a software vendor partner capable of providing a platform to support MiFID-compliant financial consulting services to bank’s customers is part of SEC SERVIZI's commitment to work alongside and support the activities and business of its client banks. It also aims at distinguishing and improving the level of the financial consulting services by offering banks high value-added services, even to high-standing customers, in accordance with the national compliance guidelines.

The ObjectWay Financial Suite (OFS) provides customers with a comprehensive financial service, which includes the following steps: identification of internal or potential bank customers, reading/writing of the MiFID questionnaire for identifying the financial profile and determining the model portfolios recommended by banks, analysis of the customer’s current portfolio presented with different financial tools and criteria (macro and micro asset classes, third-party assets, etc.), supply of a portfolio model, personalised for each bank and created based on the customer’s requirements, monitoring of the current portfolio and the model for identifying any movements (by risk, yield, volatility), management of the purchase and sale orders necessary to bring the customer’s current portfolio in line with the model portfolio, delivery of periodic reports to customers, comparison of the portfolio in terms of allocation to the various micro asset classes and back testing (i.e. the portfolio’s behaviour and performances compared to the objectives and risk model), and forecasts based on performance, risk and volatility indicators defined by the Bank.

“We are extremely happy to have been chosen as a partner of SEC SERVIZI, a leading Italian consortium that provides specialised IT application services to Italian banks, and that has always been committed to enhancing the operating capabilities and technological innovation to Client and Member Banks”, declared Luigi Marciano, President and CEO of ObjectWay S.p.A. “The ‘ObjectWay Financial Suite’ to be integrated into the SEC information systems combines two fundamental requirements for banks: compliance with the European directives and provide added value to ensure incremental business and profits for SEC Servizi’s customers within the financial advisory services arena. Objectway Financial Suite significantly contributes to achieving these objectives in accordance with the spirit of the MiFID Directive, aimed at protecting investors and improving their choice of investments”.

Luciano Dalla Riva, Managing Director of SEC SERVIZI declared: “The increasing interest and special attention that Members and Customers place on IT solutions is testimony of the fact that information technologies have become a strategic lever for banks and of how the technological solutions offered are increasingly perceived as an important investment for development. On the strength of this awareness, over the last few years SEC SERVIZI has accelerated a development path that has allowed the company to reach high performance levels. On the basis of the increasing synergies coming from the continual expansion of the company and its clientele, SEC SERVIZI can now provide high quality services that give Members and Customers an evident and real competitive advantage”.

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