Online financial information provider McGregor BFA says its new flagship product, a real-time investment solution aimed at South African businesses, is ready for commercial deployment.
The development of the tool, JRAID, cost the Naspers-owned company R1.5 million to develop and took an eight-man team five months to create.
The company originally announced the development of the tool in January and it has been running 30 beta sites since then.
"Until the development of JRAID - which will essentially be our new flagship offering - we did not have a foothold in the provision of real-time investment information, " says business development manager Dan Farr, who headed the development team.
JRAID is a Java-based financial investment application providing a wide range of real-time financial data, such as information on the local bond market; international currencies and indices; major metal prices; intraday real-time graphs; and a host of international real-time news, which is piped via 40 international news wire dailies.
It also provides brokers with forecast consensus and recommendations for a three-year period.
Last month McGregor BFA formed a strategic alliance with M-Web`s Siyanda Satellite. Andries Malherbe, MD of bfanet.co.za, said the partnership would position the service as the first online financial services portal to disseminate information to clients via high-speed satellite.
It also announced this year it had opened an office in London following a decision by management that the company needed a direct presence to better serve its growing number of UK-based clients.
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