Patni Computer Systems Introduces Innovative Series of Financial Services Solutions

Patni Computer Systems announced an extended suite of services being offered by its Global Asset Management Practice in response to a radically changing financial services landscape. Patni's solutions and services will aid financial services organizations and asset management institutions with containing costs, improving efficiencies and reducing risks during mergers and acquisitions, divestitures and conversions of internal IT systems that directly impact the overall technology infrastructure. Patni's Asset Management Practice, led by Cohen out of Patni's North American headquarters in Cambridge, will be introducing nine industry solutions that empower financial services organizations by stabilizing and growing key technology areas including reporting systems, accounting systems, security systems, compliance systems, among others. The first solution offered by Patni's Asset Management group is the Patni Financial Control & Reporting Program (FRP), a service specifically designed to support the needs of buy-side firms with all activities related to the compilation of the financial statements on a monthly, quarterly, semi-annual or annual basis.

Facing increasingly rapid changes in regulations, increasingly complex instruments and demanding deadlines from clients and regulators, Financial Control and Reporting of statements is becoming a more difficult and error-prone process for fund administrators. Patni's FRP service enables fund administrators to stay current with these rapid changes. The company uses a proven Transition Risk Mitigation Framework coupled with its quality management system.  This unique methodology transforms the Financial Control and Reporting services model by maximizing cost takeouts, limiting customer impact by utilizing proven transition methodologies and protecting the operations against regulatory and compliance infractions.