Throughout SIBOS 2009, Global Custodian will be conducting brief five-minute interviews with various delegates. On Monday, we spoke to Parth Desai, CEO of ACE Software Solutions.
Ace was set up in 1991 to provide end-end STP solutions based on advanced Artificial Intelligence and Natural Language Processing techniques.
18 years later, Desai sees the current turmoil as the key impact to his company. It is important to see how the banks can react. Only then can we manage the business accordingly. Luckily for ACE, bank indecision creates the need for flexibility, with an unsurprising focus on cost cutting for clients. As ACE is the only company in the world capable of providing holistic STP solutions for ALL message types e.g. Fax, Telex, Email, Structured Electronic, and ALL message formats e.g. SWIFT, EDIFACT, Fedwire, DTA, BACS, etc, its tailor made solutions are in demand.Past experience has caused us to create rule based and knowledge driven products. We can therefore create solutions quickly, says Desai.
He also explains there is a common focus across the payment and messaging industry, not only on cost reduction for the client, but also on operational risk. With a 6-9 month return on investment, and an intelligent automation of manual processes, ACE combines both focus points neatly.