Financial Objects Share Discussion Threads

[moogies] 22/5/2007 09:45

Also found this dated 14 May 2007



Svenska Handelsbanken to roll out Financial Objects' activebank in Luxembourg and Switzerland
Financial Objects, a leading provider of software solutions for banking, wealth management and energy, today announced that Svenska Handelsbanken S.A. has licensed its activebank Wealth Manager and Orchestrate solutions to support the bank's growing wealth management businesses in Luxembourg and Switzerland.


This implementation of portfolio management and client reporting software also includes the delivery of a secure client web access facility.


A wholly-owned subsidiary of Svenska Handelsbanken, one of the largest banks in the Nordic region, Luxembourg-based Svenska Handelsbanken S.A. needed to replace software that had been developed in-house, with a more advanced and scaleable system. Financial Objects was chosen ahead of a number of competitive vendors to deliver and implement an integrated solution that would address the bank's requirements.


Scheduled to go live in June of this year, the Financial Objects implementation will streamline the investment management process with improved portfolio management and client reporting - enabling the bank to take on more clients without increasing headcount. Svenska Handelsbanken's high-net worth private clients will also be able to access their investment details via the internet as well as to send and receive secure messages to and from the bank.


"Financial Objects offered us one solution for two pressing issues" said Erick Rossion, head of IT for Svenska Handelsbanken S.A. "With the need for a secure website application and new portfolio management functionality, we anticipated a two-phase project. Financial Objects was able to implement a single solution in one phase - limiting disruption, while saving time and money."


"This is the first implementation of our activebank Wealth Management solution in Switzerland and our seventh client in Luxembourg. We're delighted to be working with Svenska Handelsbanken and to offer the bank a system that reflects its size and success in the wealth management market," said Gary Linieres, sales director at Financial Objects. "This new solution will be a valuable tool for supporting the portfolio managers in providing a broader range of strategies to their clients, while allowing their relationship managers to better track and report to a growing client base. Importantly our solution will allow the bank to take on more business while keeping operational costs in check."

[moogies] 22/5/2007 09:41

FINANCIAL OBJECTS' ACTIVEBANK SOLUTION ENABLES SBAB TO EXTEND AND IMPROVE BANKING SERVICESLondon and Stockholm - 21 May 2007

Successful implementation of activebank Retail at SBAB further strengthens Financial Objects presence in the Nordics Financial Objects, a leading provider of software solutions for banking, wealth management and energy, has today announced that SBAB has successfully deployed its activebank Retail solution. This implementation will enable the Swedish residential mortgage provider to improve and extend the services it offers to savings and loans customers.
Wholly owned by the Swedish Government, SBAB was mandated to contribute to competition in the residential mortgage market in Sweden. SBAB now has a total market share of 10.6% (as of 31December, 2006) and continues to increase its market share. In 2005 SBAB's mandate expanded to include borrowing for the public. This new objective to offer savings accounts in addition to residential mortgages and corporate loans, led SBAB to opt for a new banking solution. Following a competitive tender it selected activebank Retail from Financial Objects due to its advanced web services, SOA architecture, and the ease and cost effectiveness of running the system.
Following a successful pilot of payments transactions, which was trialled by more than 100 SBAB employees, the Nordic-customised front and back office system went live in April 2007.
This system replaced the previous payments system at SBAB, and processes manual and standing instruction payments securely. activebank Retail has extended the functionality of SBAB's existing system to enable its customers to register accounts, make loan repayments and manage all related transactions online. The solution's customer centric database provides all core information and processing. Additionally it has been further enhanced to meet SBAB's individual needs.
activebank web services provide a consistent method for accessing the rich set of functionality provided by the activebank Retail solution. Based on industry standards and supplied as a fully documented package, activebank web services enable SBAB to provide core functionality in real-time with ease and without complexity through their Service Oriented Architecture - the back bone of their overall solution.
Some of the benefits associated with providing activebank functionality as web services, include an improved integrated development cycle, rapid prototyping, and a consistent approach to security and access control.
"We were very impressed with the speed and efficiency of the installation, as well as the support from the Financial Objects' team," said Ulf Tingström, chief information officer at SBAB. "Not only can we now take deposits to the open market and lend against these, but we can also bring new products to market quicker. The capabilities of activebank Retail have improved the services we offer to existing customers and we are now better placed to attract new ones."
"Our software supports SBAB's changing business model and empowers it to operate like a full service retail bank," said Karim Peermohamed, CEO of Financial Objects. "This was an important and strategic project for us as we grow our business and strengthen our position as a leading software solutions provider in the Nordics."
Contact information for Financial Objects plc

[polythene] 22/5/2007 09:28

Statement on chairman said trading as expected, positive outlook etc. Maybe the retiring chairman is offloading?

[tole] 22/5/2007 08:42

Perhaps another chart intent on closing that gap-up from mid-jan at 55p.
Not seen any sell tip anywhere - obliged if anybody knows differnt.

[upside potential] 22/5/2007 08:39

perplexed with this selling - something i don't know or people just don't like the chart ? what is it ? any ideas posters ?

[upside potential] 21/5/2007 14:30

strip out the cash and assuming 'steady as she goes' (as per recent updates), looks like mm's trying to shake a few out. gotta be good value down here imo.

[zipstuck] 21/5/2007 14:20

Fullager would not have paid £730,000 for £1M shares less than 2 months ago if he did not have faith in the company

[upside potential] 21/5/2007 10:19

sell tip or something ?

[weatherman] 18/5/2007 07:37

trading inline with exp.

[zipstuck] 18/5/2007 07:36

NO SURPRISES HERE AS FOSTERS HAVE NOW COMPLTED HANDOVER PLANNED LASY YEAR AND INDICATED LAST OCTOBER

[skyship] 04/5/2007 16:37

It will be intriguing to read the RNS to follow today's trades. Foster had 2,800,203 shares left after his sale to PF - so the figures in today's trades don't seem to fit - but we'll see soon no doubt.

[techmark] 03/5/2007 11:28

Postive outlook remains, things on track. Trading on a PEG of 0.6 and strong growth forecast. Around 10% of the market cap in cash. Operating cash flow was £2.5 million last year, so cash on the balance sheet likely to be signifcantly higher next year. Paul Fullager bought more stock recently at 73.5p. My valuation for this company would be 100-108p a share.

Regards.

[weatherman] 30/4/2007 09:07

Am I the only one left in this?

[weatherman] 30/4/2007 08:40

news item says - Expect more aquisitions, some non core disposals and planned doubling of t/o in 3 years.

[weatherman] 30/4/2007 07:42

item in the torygraph yesterday.

[skyship] 11/4/2007 14:51

WJCetc - 67.7p was a very well-timed re-entry. Tipped on Friday by Paul Hill in his regular column in MoneyWeek- "A fast growing niche play with some heavyweight customers".

[upside potential] 04/4/2007 16:22

taken a small long on this dip too - strip out the cash and this aint expensive imo (and the business is on the mend also which is helpful !)

[wjccghcc] 04/4/2007 16:12

Bought back in at 67.7p after selling post-results.

[verdley] 04/4/2007 14:59

This stock often falls a few pence before carrying on rising. I agree that the chart looks less promising than a couple of weeks ago, but the fundamentals are just as robust

[ian.g] 03/4/2007 16:07

Anyone have any idea why the fall this pm? or is it just people trying to take profit before the tax year end in a thin market?
Not inclined to jump out (especially with current spread) but if it closes at this level the chart starts to look as though it has broken downwards, which is always a little uncomfortable.

[skyship] 30/3/2007 08:16

The IC also liked the figures. In last week's Issue they uprated status from HOLD to BUY.

Stewart Charles Foster is MD of the Activebank division, but I regret I don't know whether there is any relationship to Roger Foster.

[verdley] 29/3/2007 10:55

Yes thanks SS - I agree with this assessment. Particularly important is the operational gearing comment. All new business goes straight to the bottom line. Further the chart supports the view that this share is going to be hitting £1 during 2007. The only slight cloud is whether Roger Foster has spotted a good time to get out and whether other management will use share price rises to sell, holding back the price. Does anyone know whether the other Foster on the Board is his relation?

[johnroger] 29/3/2007 10:43

SS thanks for sharing that

[skyship] 29/3/2007 10:00

EVOLUTION UPDATE – MAR'07

Wealth begets wealth

# Revenues up 43%

Group revenues will continue to benefit from recent acquisitions. Underlying
demand for Wealth Management and Energy software solutions will be key
earnings drivers

Banking division delivered 6% turnover growth & dividend payments have been resumed demonstrating Management's confidence in the future

# FY06: A transitional year

Revenues increased by 43% to £20m, the operating margin expanded to 12% (FY05: 7%) as more development work was carried out by the Group's facility in Bangalore.

This all helped EPS (Adj. for goodwill and exceptionals) rise to 5.6p. The Group has resumed dividend payments; 1p in FY06 (FY05: nil). FIO significantly reduced its reliance on Banking as the recent acquisitions - Wealth Management and Energy – successfully integrated in FY06 and are showing strong opportunities for growth.

# Strong growth expected for Energy and Wealth Management

Wealth Management and Energy should drive earnings going forward. We have
pencilled in CAGR of 15% and 22% respectively for these divisions over the next three years as FIO capitalise on the poor uptake of technology in these areas to date. The core Banking division is more mature and we expect mid single-digit revenue growth over the next few years.

# Valuation and recommendation

We have moved up our EPS forecast by 7% to 6.2p - representing 10% growth on FY06. This feels conservative. As revenue growth continues, Financial Objects should enjoy the benefits of operational gearing, and so small upgrades to top-line expectations could lead to larger movements in earnings. This makes the stock's P/E of 11.8x – a 35% discount to the software & computer services sector - look like a bargain. Remains a Buy.