News & Events

FinArch builds on Record Results - New Year Continues Trend of Major Customer Wins and International Expansion

Ghent – 3 May 2005 - Financial Architects (FinArch), international provider of financial management software, today reports a strong start into 2005, building on its record results of 2004.

Customer Wins and International Expansion

Already this year FinArch has notched up major wins with tier 1 banking institutions in the US, Europe and Asia and opened a new regional headquarter in Singapore to cope with strong expansion in the APAC region. Customers are confirming their trust in FinArch.

Operational Highlights

  • 70 % increase in revenues for the year 2004 (compared to FY 2003),
  • 30 % operating profit for 2004,
  • 180 % increase in revenues for Q1 2005, compared to the same quarter last year,
  • increase in workforce by 55 %,
  • 115 % increase in net assets,
  • strong cash position,
  • strengthened partnerships with global consulting practices,
  • substantial increase in budget for R&D and marketing,
  • continuous organic growth.

Plans for the Future

FinArch intends to continue on the road taken with product development addressing a growing demand in advanced financial management platforms. The offering as a combined solution of different disciplines in the area of advanced accounting techniques, faster and more detailed reporting, risk calculators and compliance is the direction that FinArch has taken to grow its business.

“The outstanding financial results reflect our success in convincing the market of our in-depth knowledge of the banking sector and the expertise in offering financial management solutions that allow banks to comply with complex matters such as Basel II, IFRS and SOX”, says FinArch CEO, Dirk De Beule. “The projects we have realised enable not only the banks to take an international financial management approach; it also emphasizes the global scope of FinArch as a multinational organisation.”

In recognition of FinArch’s success, the company has been granted several awards, such as Trends Gazelle 2005 (one of the 500 fastest growing companies in Flanders) and the regional Lion of the Export 2004 in the category of ‘Best Performer’.

About FinArch

Financial Architects (FinArch) is an international provider of business intelligence and financial reporting software. Founded in 1997 FinArch has built a global reputation as a vendor, developer and consulting partner of a financial analysis and reporting platform specifically for the finance industry.

Financial institutions around the world - including several of the leading names in the industry - use FinArch’s flagship products FinReporter and Financial Studio, addressing banks’ internal and external financial management needs, for legal reporting as well as for internal group analysis and reporting, including financial accounting, IAS/IFRS accounting, profitability, solvency and risk calculation, Basel II reporting, Sarbanes-Oxley compliance, etc…
www.finarch.com

For more details, please contact:

Dirk De Beule
CEO Financial Architects nv
Verlorenbroodstraat 122
B-9820 Merelbeke
Belgium

tel : +32 9 272 64 10
e-mail : info@finarch.com