Carige and Unicredit opt for the new release of CAD IT's "Finance Area Web 2.0"

CAD IT’s new WEB 2.0 platform is continuing to flourish on the market

CAD IT reports that two leading Italian Banking Groups, Carige and Unicredit, have opted for the new release of “Finance Area Web 2.0”.

Finance Area WEB 2.0 already boasts an important conquest in July 2010 when it went live at Mediobanca. The new release optimises front desk procedures by integrating financial tool sales functions: derivates, funds and securities. Moreover, the level of corporate action, middle and back office automation has been considerably developed. The new reporting functions give a multi-dimensional analysis of data with both summary and detailed displays that can be enabled according to the user profile.

The design of the WEB 2.0 user interface is a result of the notable investment that CAD IT has made into ergonomic study and planning, thus simplifying operability and system management.

The Finance Area WEB 2.0 release reflects CAD IT’s philosophy to guarantee compatibility with the data structures of previous versions and to ensure the management of enormous volumes of data relating to millions of security positions, thus minimising the risks of changing in the innovation of processes.

Since the platform does not depend on the infrastructure of the hardware, the basic software or databases, CAD IT customers can freely and flexibly make immediate and future decisions. Unicredit, for example, has decided to install the new release on operative Linux system.
Furthermore, the fact that the platform can manage several languages and currencies fully meets the expectations of leading banking groups in terms of internationalisation.

The user licence for these two contracts will have an incidence on CAD IT’s 2011 revenues by approximately 5%. The amount of design effort and the relative financial incidence cannot be estimated at the moment but will be defined as the project proceeds.