Citibank Selects Montclair Financial Technology's Apps

Montclair Financial Technology (MFT) announced that Citibank Worldwide Security Services (WWSS) has chosen MFT's suite of applications to build Citibank's own Global Custody data warehouse. The MFT products selected include the MFT DataWarehouse, InVision, Investor Workstation (IVW) and Global Performance Measurement. MFT applications will provide a major part of the infrastructure to enable the integration of WWSS's various systems around the world, as well as providing a suite of dynamic browser/Internet-based portfolio inquiry and analysis tools.

"MFT has developed a data warehouse that is specifically designed to service our business," explains Mike McGovern, vice president and Manager of Cross Border Custody Services. "MFT's application architecture provides an extremely flexible, effective and efficient means of making data available to both our customers and employees worldwide. This architecture will also provide the framework for consolidated data storage, information systems needs, and management information," adds McGovern.

"We are extremely pleased that Citibank has chosen MFT to be such an integral part of this strategic initiative," said Tom Charlton, MFT's president. "Our selection demonstrates that MFT products can meet the needs of even the very largest financial institutions. We are very proud that Citibank has selected us and are delighted that our products mesh so well with Citibank's own business and automation plans."

MFT's DataWarehouse will be utilized by Citibank to consolidate information from its global network of securities processing and accounting systems. The MFT DataWarehouse will also be the central repository of customer information, including holdings, transactions, securities, FX, and corporate action information. Once consolidated on the MFT DataWarehouse, the information will be accessed online using MFT's desktop products, either over the Internet using the MFT's InVision offering, or via MFT's Windows-based Investor Workstation. Citibank will deploy the MFT desktop and data warehouse products both for its own internal use and for its customers, on a worldwide basis.

"We were especially impressed that MFT provides an integrated and well architected approach for both Internet and Windows-based access to their data warehouse," adds McGovern. "A key element in our strategy is to deliver information over the Internet, and MFT matched up very well in this regard."

"From our perspective, one very exciting aspect of the Citibank implementation is that Citibank will be updating information on our data warehouse on a continuous and real-time basis," noted MFT's Charlton. "Our applications were always designed to support real-time data feeds, and this will certainly be the broadest use of this facility to date."

"Our goal continues to be to enable end-users to access their own portfolio information easily, where ever they are and whenever they need it, whether at home, at the office, or on the road," adds Charlton. "Our work with Citibank will take us another important step toward achieving this goal."

MFT's first product, its Windows-based Investor Workstation, was first announced in late 1995 and is now in its fourth release. Since then, MFT has delivered to the market place a complete suite of complementary application products, including Global Performance Measurement, InVision, DataLink, Enterprise Reporting, and its newest offering, a "rules based" the Compliance Monitor module. MFT's next product offering (scheduled for year-end 2000) is a fully integrated portfolio analysis and decision support component. MFT's technical architecture is multi-tiered, COM object-based, and utilizes modern relational technology running under Microsoft SQL Server, Oracle, or Sybase. MFT's desktop products require either Microsoft Windows or a standard Internet browser, either Netscape Navigator or Internet Explorer.

Montclair Financial Technology (MFT) is a software and consulting services company that specializes in the development of information management and accounting software applications for the investment management, trust and insurance industries. MFT software products operate off a central data warehouse and are designed to enable end user computing and information delivery over the Internet.

Contact Montclair Financial Technology, Hoboken, Dan O'Brien, 201-792-7622 x321.