Amid continued banking industry belt-tightening, the Financial Services Roundtable has acquired the Financial Services Technology Consortium, the groups announced Thursday. The consortium, which sponsors non-competitive collaborative research and development of interbank technical projects affecting the financial services sector, will become a division of the Roundtable, which represents 100 of the largest integrated financial services companies. The merger creates a Roundtable Technology Group that will allow the best practices and technology policy developed by the Roundtable's BITS division to be translated into technical solutions by the FSTC division, providing full stewardship to member companies, according to a press release.
"The total is greater than the sum of the parts," Roundtable CEO Steve Bartlett said. "Having BITS and FSTC under one umbrella will dramatically provide better resources for less overhead. We are pleased that FSTC's relationship with the vendor community will bring another unique element to the Roundtable." Historically, BITS and FSTC have collaborated while maintaining separate but similar memberships. By combining the organizations, the merger will eliminate redundancies and streamline resources within the financial services industry, as well as formalize the pipeline of BITS-developed business requirements into FSTC's technical development projects, the groups said. Neither group has planned layoffs but the Consortium will reduce its use of contractors.
To post a comment, you must provide a name and a valid e-mail address. Messages must be limited to 400 words. By using this service you agree not to post material that is obscene, harassing, defamatory, or otherwise objectionable. Although Tech Daily Dose does not monitor comments posted to this site (and has no obligation to), it reserves the right to delete, edit, or move any material that it deems to be in violation of this rule.
New Media
Online Politics
Tech Policy
Responded on September 16, 2009 9:48 PM
mmcis-investments.com
Dreaming of stable and high income, but do not know where to invest your funds? We already have found a solution - MMCIS investments is the most profitable decision! Your funds will be invested into innovative projects worldwide and you will receive income by several times exceeding bank interest rate! We diversify our assets greatly, which allows us to minimize all kinds of risks. We will make our Fund your reliable partner for many years. Make a deposit now and appreciate all benefits of working with our Fund!
Responded on June 5, 2009 7:09 AM
Inheritance tax Help UK
You worked hard all your life so that you can give best home and amenities you can to your family and children. Inheritance tax will take away bit of happiness when finally you will be handing over the keys to your treasure box to your children.