Aleri Inc, New York-based developer of innovative, ultra-high-speed information processing software, has announced the acquisition of mpct Solutions Corporation, the leading banking solutions provider. mpct’s products include the well-known Atlas international wholesale banking operations software used by over 30 leading banks, such as Deutsche Bank, Barclays, ABN-Amro, ING, Socit Gnrale and Bank One.
Alan Hambrook, CEO of Aleri, said “The merger gives banks access to products which dramatically improve their ability to process, store and analyze strategic data. For the first time it will provide them with real-time, operational control and management of core banking activities. High data volume organizations have been constrained by existing database and processing technologies. These prevent corporations from having a rapid, complete, multi-dimensional view of their business and forces the fragmentation of data amongst numerous databases, OLAP tools and spreadsheets, etc. They also constrain them from quickly adapting their systems to changing business needs. Aleri has solved these problems. Our products are built by a group who fully understand the challenges of the industry and are powered by patent-pending new technologies.”
The company will provide the financial services industry with a unique combination of mpct’s highly respected banking domain knowledge and operational integrity, allied to Aleri’s class-leading ultra high speed business process management software. Aleri’s core product combines the ground breaking use of vectors for data processing and storage with a rules- based process/business logic definition, allowing users to manage complex processes and analyze unparalleled amounts of data in real- or near real-time with ease, a combination essential to manage today’s world of hectic business change.
Clive Pedder, CEO of mpct, added “mpct users will gain enormous benefit from these new capabilities, enhancing the throughput of their core applications. It will allow them to easily integrate with other applications or databases and consolidate data. We will also be able to add sophisticated functional enhancements to incorporate new business requirements. Most importantly we can provide our users with an overall picture of their trading and business activities with unprecedented detail and speed. This is a holy grail our industry has been seeking for many years.”
Aleri products are already in use by a variety of banks and telcos to create a range of highly flexible rule-based applications. Examples include: complex management reporting, worldwide P&L attribution, real time trading P&L, real time position servers call log analysis, fraud detection, uptick analysis, sophisticated real-time management reports, billing system analysis, and trading floor analytic applications.
Users have achieved throughputs over 700 times faster than previous processing times – the greater the data volumes and the more complex the analysis, the stronger the Aleri advantage. Data set sizes range to multiple terabytes, with over a billion transactions.
The integrated Aleri infrastructure also provides tools for data movement, integration, transformation and analysis. It includes many functions previously only available by the purchase of multiple products such as ETL, OLAP, EAI, databases and data warehousing.
The combined company will trade as Aleri Inc, with Alan Hambrook as CEO, Eric Sandler as CTO and Clive Pedder as Executive Vice President of International Operations.
TwentyTen, L.L.C. served as financial advisor to Aleri in the transaction. Financial details of the transaction were not disclosed.