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New management and organisational structure to support planned expansion

London, 27th November 2001 –COR Systems Ltd, the software and services provider for the financial services industry, today announced a new management and organisational structure and a change of company name to reflect its recent growth and plans for new products and services.

The company has been renamed COR Financial Solutions Ltd., reflecting the broader market reach of its products, consultancy and services across the financial sector.

Two market-focused divisions have been formed, each offering specialist software, integration and consultancy services to a particular sector:

· COR’s Investment Solutions (IS) division addresses the marketing and fund administration requirements of the retail investment industry through the CO-STARS™ suite of products. COR-IS is headed up by Chris Kaye.

· COR’s Internet Banking Solutions (IBS) division provides secure Java-based solutions for online commercial and retail banking over the internet. COR-IBS is headed up by Mark Hipperson.

Steve Osborne, executive chairman, comments: “Following the acquisition of IBS - Global in September, we needed a structure which allowed us to meet the needs of differing markets and customers. In the new COR Financial Solutions, central corporate functions will be shared, whilst each division retains the freedom to develop, market and sell as best suits its sector. The senior management team will ensure cross-fertilisation of technologies and skills between divisions, including any new ones we subsequently introduce.“

Steve continues: “We have just secured second round funding for our growth plans. Even in today’s challenging financial climate, the placement was oversubscribed, and this included substantial contribution from the management and staff. Clearly our investors recognise the strength of our product range, the management team and our strategic plans for further acquisitions and developments.”


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About COR Financial Solutions

COR Financial Solutions Ltd provides software solutions to the financial services industry.

Each division of COR Financial Solutions offers specialist software, integration and consultancy services to a specific market sector.

The Investment Solutions (IS) division addresses the marketing and fund administration requirements of the retail investment industry through the CO-STARS™ suite of products.

The Internet Banking Solutions (IBS) division provides secure Java-based solutions for online commercial and retail banking over the internet.

All divisions share COR Financial Solutions’ common goal – to bring to market high quality solutions, quickly and effectively, through component and object reuse. Those solutions offer a demonstrable competitive advantage to the client. Each division utilises the most appropriate technology and platforms and employs specialist, experienced staff to meet that goal.

Through partnerships with other industry leaders in systems integration, technology and software applications, COR Financial Solutions delivers complete solutions for the end-to-end business needs of financial institutions.

COR Financial Solutions has an extensive client base of blue-chip financial institutions, including Marks and Spencer Financial Services, Abbey National Financial Investment Services, Legal & General and Family Assurance.

COR employs over 50 staff at its offices in London, Edinburgh and Eastleigh (Hants).


For further information

Karin Clark/Sara Toal
Write Image
271 Regent Street
London
WIB 2BP
Tel: +44 (0)207 959 5400
Email: Karin@write-image.co.uk
Sara@write-image.co.uk



Chris Brooke/John Bennett
COR Financial Solutions
1 Liverpool Street
London
EC2M 7QD
Tel: +44 (0)20 7956 2042
Email:john.bennett@corfinancialsolutions.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Metia LTD (formally Write Image Ltd) in the following categories: Consumer Technology, Personal Finance, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.