FinArch Releases Year Results

Financial Architects (FinArch), a international provider of financial and risk management software, reported its full year results with an astonishing growth in overall revenues in 2009. The excellent results of 2009 and the promising outlook for 2010 are clear evidence

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Financial Architects (FinArch), a international provider of financial and risk management software, reported its full year results with an astonishing growth in overall revenues in 2009. The excellent results of 2009 and the promising outlook for 2010 are clear evidence of the call in the banking industry for robust, more integrated approaches to implementing finance and risk management systems.

Despite the ongoing worldwide financial and economic crisis, 2009 was successful for FinArch. The close of the year saw the international software company report an increase in overall revenues of 25%, a growth in license sales of more than 250% and an EBIT growth of 300%. The company further reports doubled revenues since 2006.

This strong growth, especially noteworthy in these tough economic times, clearly demonstrates the increasing confidence the international banking community has in FinArchs Finance Resource Planning (FRP) concept. FRP takes an integrated approach to data and business process management across both the finance and risk function. In the last twelve months, FinArch confirmed its position as the leading software company for IFRS solutions by opening up, amongst others, the IFRS market in Indonesia. With significant local and global implementations of its Basel II, Liquidity Risk, Economic Capital and Regulatory Reporting solutions, FinArch was further able to strengthen its global leadership in all disciplines of risk and finance.

This tremendous growth has resulted in the need for FinArch to enlarge its Professional Services team and to establish a Competence Center in South East Asia. To reach out to its clients in the Middle East, the company also opened a new office in Dubai.

Operational highlights

25% increase in overall revenues,

over 250% increase in license and maintenance revenues,

15% growth in head count,

33% increase in net assets,

growing and strong cash position,

EBIT grown 300 %,

revenues doubled since 2006,

contracts with major global banks for Basel II Liquidity Risk and Regulatory Reporting,

major contract wins Financial Studio IFRS Asia,

opening of Dubai office,

launch of Asian Competence Center.

Awards and recognition

6th year in a row Fast Growing Company,

Winner in the new category Risk and Finance Integration, in Chartis Researchs annual report RiskTech100TM (2009),

Validation of IFRS accounting templates by Ernst & Young.

D.C.

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