ISID enters non-Japanese financial industry market in US
-Establishes joint venture with US partner for co-development of Web asset management and 401k software packages-
On March 28, 2000, ISID Holdings, Inc., the US-based strategic holding company
for Information Services International - Dentsu Ltd. (ISID, headquartered
in Nakano, Tokyo; Jutaro Takinami, CEO; ¥743 million in capital) and the
E/W Group Inc. (established 1993; representative: Samuel D. Eckelmann; based
in Connecticut) co-financed the establishment of Enterprise Financial Solutions,
Inc. (based in New York: CEO: Samuel D. Eckelmann), a joint-venture focused
in financial systems development.
With the establishment of this joint venture, ISID has demonstrated its interest in becoming a serious player in the US market for financial systems.
Enterprise Financial Solutions has already completed and begun marketing Basis Point, a Web technology-driven portfolio management system for clients in the mutual funds, life insurance, and financial asset management fields.
ISID's efforts to penetrate the US market began in 1987 with the establishment of ISI-Dentsu of America in New York. That venture marketed products and services primarily to Japanese-affiliated financial institutions, but had problems attracting non-Japanese institutional clients.
The E/W Group, for its part, had earned a measure of acclaim as a provider of asset management consulting services and as a developer of financial systems. However, it had little contact with Japanese clients in the U.S and faced difficulty in marketing goods to them.
The new joint-venture arrangement is aimed at helping both firms mutually supplement their financial systems expertise and customer relations. Another goal is to help both tap into the global market with the development and debut of Basis Point, a financial asset portfolio management system powered by advanced Web technologies and aimed at customers who manage assets for mutual funds and 401k programs, areas where demand is expected to show sharp growth in the years ahead.
ISI-Dentsu of America will cater chiefly to Japanese-affiliated financial
institutions whereas Enterprise Financial Solutions will focus its market
efforts on foreign-affiliated clients. With this arrangement, ISID will
have effectively completed the formation of a strategy for penetration into
the global financial systems marketplace.
A portfolio management system for clients in the fields of mutual funds, insurance, and financial asset management. Basis Point is a completely integrated system that handles all stages of front- and back-office work flow. Its development was driven by the goal of creating the industry's first Internet-ready system with the latest innovations in Web technology.
ISID has good reason to be confident about the market viability and innovativeness of Basis Point. It has already received a number of inquiries from the New York subsidiaries of various Japanese life insurers, as well as from trust banking institutions and the Tokyo branches of several U.S. security houses.
Application overview:
• Integrated front end with investment accounting package
-Portfolio management
-Order management
• Technical design summary
-Relational Database
-Process and Workflow Design
-Proven Technology coupled with State of Art Web Delivery
• System Functionality Overview
-Multi-currency/International Management Design
-Integrated Trade Execution Flow
-Integrated FX Process and Cost Assignment
• Global Reach and Support
Price: US $500,000 (tentative)
FY 2000 sales target: 5 sets
Market debut: April 1, 2000
Name : Enterprise Financial Solutions,INC.
Representative : Sam Eckelmann
Headquarters : NewYork,USA
Shareholders : ISID Holdings (34 percent) and E/W Group (66 percent)
Business scope:financial systems consulting services, application development
Name : THE E/W GROUP,INC.
Headquarters : Sam Eckelmann
Headquarters : 59 Rainbow Road East Granby,CT 06026
Work force : 12
Business scope:Since its founding by Sam Eckelmann and Laird Wiggin in 1993, the company has been focused in systems development and the provision of consulting services for financial clients.
