Ness Technologies to Launch New Version of its Enterprise Reference Data Management Platform at FIMA 2006 (Europe)
November 13 2006 - 5:30AM
PR Newswire (US)
HACKENSACK, New Jersey, November 13 /PRNewswire-FirstCall/ -- Ness
Technologies (NASDAQ:NSTC), a global provider of IT services and
solutions, today announced that it will launch a new enhanced
version of Financial Data Enterprise (FDE) at FIMA 2006 (Europe) -
the fourth European senior-level financial data conference, to be
held on November 14-17, 2006 in London, UK. FDE is an enterprise
reference data management platform developed by Ness Innovative
Business Services (Ness IBS) to efficiently address the reference
data needs of global financial institutions. A cost-effective,
flexible solution, FDE allows financial institutions to take
complete control of their enterprise data by automating end-to-end
acquisition, management and distribution of reference data. FDE
acts as a transformation and enrichment hub that consolidates all
disparate data sources leveraging its intelligent and dynamic
metadata layer and delivers data to end users, systems and
value-chain participants. FDE ensures that the data that drives
performance attributions, risk analysis, pricing, research, fund
accounting and customer servicing and other mission-critical
applications is clean, complete and consistent. The new version,
FDE 3.0, includes new features such as enhanced data acquisition
interface allowing users to dynamically map, cleanse and transform
incoming data from various formats to the user's underlying
database model. In addition, FDE 3.0 includes improved exceptions
and workflow management interface as well as a new extraction rules
engine providing rules-driven golden copy generation and
distribution. "The new version enhances data acquisition,
management and distribution, leading to increased productivity and
improved performance," said Rajkumar Velagapudi, President of Ness
IBS. "It reduces data sourcing costs and eliminates downstream
needs for validation and exception management, thus saving time and
administration costs, meeting the critical needs of financial
institutions. The combination of FDE 3.0 with Ness' EnVue
Analytical Platform 2.5 enables financial institutions, especially
wealth managers, financial advisors and fund managers, to review
and distribute detailed performance data near-real-time." Ness IBS
provides strategic operational and technical integration services
to global financial institutions including investment managers,
mutual funds, brokers/dealers, third party administrators and hedge
funds. Ness IBS offerings include solutions for wealth management,
transfer agency and investment management operations, research and
trade operations, payer/provider revenue management, customer
software engineering and packaged products implementation. In
addition to the solutions, Ness IBS provides outsourcing and
offshoring services, such as advisory, system integration, product
development and business process outsourcing services. Ness IBS
clients include Franklin Templeton, Standard & Poor's, Finaplex
Inc., PayPal, Wells Fargo Bank, Weiss Ratings and ING Investments,
among others. About Ness Technologies Ness Technologies
(NASDAQ:NSTC) is a global provider of end-to-end IT services and
solutions designed to help clients improve competitiveness and
efficiency. Ness specializes in outsourcing and offshore, systems
integration and application development, software and consulting,
and quality assurance and training. With 7,200 employees, Ness
maintains operations in 14 countries, and partners with over 100
software and hardware vendors worldwide. For more information about
Ness Technologies, visit http://www.ness.com/. Forward Looking
Statement This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements often are preceded by words
such as "believes," "expects," "may," "anticipates," "plans,"
"intends," "assumes," "will" or similar expressions.
Forward-looking statements reflect management's current
expectations, as of the date of this press release, and involve
certain risks and uncertainties. Ness' actual results could differ
materially from those anticipated in these forward looking
statements as a result of various factors. Some of the factors that
could cause future results to materially differ from the recent
results or those projected in forward-looking statements include
the "Risk Factors" described in Ness' Annual Report of Form 10-K
filed with the Securities and Exchange Commission on March 15,
2006. Media contact: David Kanaan USA: 1-888-244-4919 Intl:
+972-3-540-8188 Email: Investor contact: Drew Wright USA:
1-888-267-8160 Email: DATASOURCE: Ness Technologies Inc CONTACT:
Media contact: David Kanaan, USA: 1-888-244-4919, Intl:
+972-3-540-8188, Email: , Investor contact: Drew Wright, USA:
1-888-267-8160, Email:
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