GFI signs up for Torstone's Inferno 16 July 2014London Reporter: Stephen Durham
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Torstone Technology’s latest client, GFI Group, has signed a multi-year contract for the use of Torstone’s Inferno back office technology for reconciliations.
GFI has chosen Torstone’s back office software to improve business agility, management control (given the current regulatory environment) and reduce the total cost of ownership.
Torstone’s team and hosted solution speeds up the on-boarding of new clients, allowing GFI to see its own data in Inferno for reconciliations within a matter of weeks.
“Working with an agile technology firm such as Torstone means that we’ll be using the latest technology. In addition, their hosting service and upgrade process mean that they will keep us on the latest version so that we don’t need to go through painful and costly upgrades,” commented Prash Naik, GFI managing director finance & operations for Europe, the Middle East and Africa.
Unlike other reconcilers on the market, which tend to be generic, Inferno reconciliation is tailored to reconciling positions, cash and trades.
“Switching your back office technology isn’t as daunting as you’d first think,” said Brian Collings, Torstone’s CEO.
“Our modular, flexible technology means that we can quickly and easily take-on a new client’s transaction processing at the level and timescale that suits them.”
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