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  • Business Objects signs worldwide reseller agreement with FICS Group for financial query and reporting soluti...

Business Objects signs worldwide reseller agreement with FICS Group for financial query and reporting solutions

FICS Group`s ABACUS Reporting Product for Financial Services Companies to Bundle Leading Decision Support Software from Business Objects
Issued by Bytes Technology Group
Johannesburg, 06 Jul 1998

Business Objects, the world`s leading provider of integrated enterprise decision support tools, today announced that it has signed a worldwide value added reseller (VAR) agreement with FICS Group, a Belgium-based provider of electronic services delivery and financial reporting software to leading banks and financial service organizations worldwide.

Business Objects products enable non-technical users to access and analyze data stored in corporate data warehouses, data marts, and packaged applications. This agreement enables FICS Group to integrate and bundle Business Objects software including BUSINESSOBJECTS, its full-client decision support system (DSS), as well as its thin-client solution, WEBINTELLIGENCE, with ABACUS, FICS Group`s tool for creating and submitting financial reports.

This technology integration will enable ABACUS customers - including banks, insurance companies, and mutual fund providers - to utilize one system to fulfill their legal reporting obligations and also access, analyze, and share information stored in corporate databases so they can make better, more informed business decisions.

"We look forward to working with FICS Group and helping it supply its extensive customer base with an integrated corporate standard upon which to build financial reporting and query applications," said Dave Kellogg, vice president of corporate marketing at Business Objects. "Business Objects web technology will also allow banks to expand their DSS applications beyond their `four walls` using internet- and extranet-based systems, which can be a vital feature in this time of consolidation and competition in the financial services industry."

"FICS Group is committed to providing a total query and reporting solution to financial institutions," said Jean de Crane, FICS Group regional manager. "The worldwide agreement with Business Objects will combine the strengths of both our companies` tools: The ABACUS package will now provide financial institutions with an integrated tool for fulfilling legal reporting obligations. Business Objects tools will complete the picture, providing functionality for data analysis, report building online analytical processing (OLAP), and data mining. By using a single data source, bank staff will be able to meet a variety of reporting business needs, both internal and external."

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About FICS Group FICS Group, founded in 1989, focuses on two core business activities: Electronic Services Delivery and Financial Reporting Systems. The Financial Reporting Systems (FRS) offering addresses the regulatory, financial and management reporting needs of banks, insurance companies, pension funds, mutual funds, and brokers. It offers integrated and international solutions based around ABACUS, a client-server reporting system. FRS provides solutions for legal and statutory reporting, internal and head-office reporting, Basle regulations/CAD (Capital Adequacy Directive) reporting, Windows-based and Internet-enabled electronic banking solutions for retail and corporate banking to electronic commerce and electronic purse solutions and services. Since its foundation the company has grown from three to more than 550 people with subsidiaries in 10 countries including the United States, Australia, Singapore, United Kingdom, France, Spain, Portugal, the Netherlands, Belgium, and Luxembourg. More than 500 financial institutions worldwide rely on its products and services including ABN-AMRO, BNP, Bank of America, Barclays Bank, Citibank, Commonwealth Bank of Australia, Deutsche Bank, ING Bank, Lloyds Bank, Nomura Bank, and Sumitomo Bank. FICS Group generated revenues of more than $40 million in 1997. About Business Objects Business Objects is the world`s leading provider of integrated enterprise decision support tools. Business Objects products provide non-technical business users with access to information stored in data warehouses, data marts, and packaged business applications. Business Objects provides a complete suite of decision support tools including query, reporting, online analytical processing, data mining, and DSS administration for both client/server and internet environments. Business Objects has sold more than 780,000 licenses to over 6,200 organizations in more than 60 countries worldwide.