Finantix establishes local presence to target financial institutions

Some 30 percent of revenue directed to R&D

Component-based front office retail solutions provider, Finantix is ramping up operations in the region opening new headquarters in Sydney yesterday.

With more than 50 banks in 19 countries already using its technology, Finantix expects strong demand in the Australian market for financial institutions seeking to renew their branches and achieve true multi-channel banking.

The company's general manager, Frank Falco, said Australia is a highly competitive market with mature customers, demanding tailored services and options.

"We believe firms are primed to invest significantly in their technology stacks to address this demand for systems to deliver superior customer experience. Our technology supports a single customer view and capabilities such as profiling and customer-specific pricing," he said.

With a background in wealth management, Finantix has delivered front-office solutions to tier-one and two banks since 1994. The company has an established presence across Europe and Asia, and Sydney is the location of its ninth office.

Finantix's technology includes functionality for advice-led selling, CRM, lending and wealth management. Its component librarycan slot into legacy systems.

Falco said financial institutions are able to configure the components to match different retail strategies and types of customers to support new sales and customer service channels.

Speaking at day one of the Retail Financial Services Forum in Sydney yesterday, the company's strategy director, Alessandro Tonchia, said having established a top-tier customer base across Europe and Asia, an Australian presence is an important step in its global strategy.

Tonchia said financial institutions in Australia deploy similar sales and services models to Northern Europe by placing an emphasis on channel integration and advice-led selling.

"This is an ideal fit for our technology, which can help them achieve greater profits from their branch networks," he added.

With over 100 developers, Finantix invests some 30 percent of revenues in R&D. The company is headquartered in Venice, Italy.

Finantix will go head to head with a long list of rivals also targetting the financial services sector. Earlier this week Progress Software established a specialist team dedicated to selling its trading software to Australian financial institutions.

Progress Software's A/NZ country manager, Jeremy Goddard, also said the time is right to target the Australian market due to its level of maturity.

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