HACKENSACK, New Jersey, November 13 /PRNewswire-FirstCall/ -- Ness
Technologies (NASDAQ: NSTC), a global provider of IT services and solutions,
today announced that it will launch a new enhanced version of Financial Data
Enterprise (FDE) at FIMA 2006 (Europe) - the fourth European senior-level
financial data conference, to be held on November 14-17, 2006 in London, UK.
FDE is an enterprise reference data management platform developed by Ness
Innovative Business Services (Ness IBS) to efficiently address the reference
data needs of global financial institutions.
A cost-effective, flexible solution, FDE allows financial institutions to
take complete control of their enterprise data by automating end-to-end
acquisition, management and distribution of reference data. FDE acts as a
transformation and enrichment hub that consolidates all disparate data
sources leveraging its intelligent and dynamic metadata layer and delivers
data to end users, systems and value-chain participants. FDE ensures that the
data that drives performance attributions, risk analysis, pricing, research,
fund accounting and customer servicing and other mission-critical
applications is clean, complete and consistent.
The new version, FDE 3.0, includes new features such as enhanced data
acquisition interface allowing users to dynamically map, cleanse and
transform incoming data from various formats to the user's underlying
database model. In addition, FDE 3.0 includes improved exceptions and
workflow management interface as well as a new extraction rules engine
providing rules-driven golden copy generation and distribution.
"The new version enhances data acquisition, management and distribution,
leading to increased productivity and improved performance," said Rajkumar
Velagapudi, President of Ness IBS. "It reduces data sourcing costs and
eliminates downstream needs for validation and exception management, thus
saving time and administration costs, meeting the critical needs of financial
institutions. The combination of FDE 3.0 with Ness' EnVue Analytical Platform
2.5 enables financial institutions, especially wealth managers, financial
advisors and fund managers, to review and distribute detailed performance
data near-real-time."
Ness IBS provides strategic operational and technical integration
services to global financial institutions including investment managers,
mutual funds, brokers/dealers, third party administrators and hedge funds.
Ness IBS offerings include solutions for wealth management, transfer agency
and investment management operations, research and trade operations,
payer/provider revenue management, customer software engineering and packaged
products implementation. In addition to the solutions, Ness IBS provides
outsourcing and offshoring services, such as advisory, system integration,
product development and business process outsourcing services. Ness IBS
clients include Franklin Templeton, Standard & Poor's, Finaplex Inc., PayPal,
Wells Fargo Bank, Weiss Ratings and ING Investments, among others.
About Ness Technologies
Ness Technologies (NASDAQ: NSTC) is a global provider of end-to-end IT
services and solutions designed to help clients improve competitiveness and
efficiency. Ness specializes in outsourcing and offshore, systems integration
and application development, software and consulting, and quality assurance
and training. With 7,200 employees, Ness maintains operations in 14
countries, and partners with over 100 software and hardware vendors
worldwide. For more information about Ness Technologies, visit www.ness.com.
Forward Looking Statement
This press release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements often are preceded by words such as "believes," "expects," "may,"
"anticipates," "plans," "intends," "assumes," "will" or similar expressions.
Forward-looking statements reflect management's current expectations, as of
the date of this press release, and involve certain risks and uncertainties.
Ness' actual results could differ materially from those anticipated in these
forward looking statements as a result of various factors. Some of the
factors that could cause future results to materially differ from the recent
results or those projected in forward-looking statements include the "Risk
Factors" described in Ness' Annual Report of Form 10-K filed with the
Securities and Exchange Commission on March 15, 2006.
Media contact:
David Kanaan
USA: 1-888-244-4919
Intl: +972-3-540-8188
Email: media.int@ness.com
Investor contact:
Drew Wright
USA: 1-888-267-8160
Email: investor@ness.com
SOURCE Ness Technologies Inc
-0- 11/13/2006
/CONTACT: Media contact: David Kanaan, USA: 1-888-244-4919, Intl:
+972-3-540-8188, Email: media.int@ness.com, Investor contact: Drew Wright,
USA: 1-888-267-8160, Email: investor@ness.com/
(NSTC)
CO: Ness Technologies Inc
ST: New Jersey
IN: FIN CPR HRD STW
SU: PDT
UK
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9610 11/13/2006 05:30 EST http://www.prnewswire.com
