TRASSET

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History

1997 The company started operation as a software developer and consulting provider to banks in Budapest, Hungary. Albert Fekete founded the company and was known as FX Software Ltd. Our first client was the European Commercial Bank owned by Bank Austria and Banca Cariplo Milano. Different modules of treasury front office system were developed for Citibank Hungary. Initial focus was on Treasury Management Solution. 1998 Asset Management solution was added to our suite of products and enhanced the Treasury Management Solution to cover treasury operations of conventional banks and large corporates. 1999 The first fully integrated and straight trough processing Treasury system was implemented for Hungarian Post Bank; the major modules implemented were Foreign Exchange, Money Market, Fixed Income, Derivatives and settlement management. Treasury front office system implemented for KELER (Central Clearing House - Budapest). 2000 First Custody and Depositary Management system implemented for Citibank Hungary. We won the first contract for Asset Management with CA-IB, Hungary. Oracle Technology was introduced in our development as we converted our solution to browser based, 3 tier architecture based, scalable and robust application. 2001 Compaq Inc. selected us as their preferred vendor for Treasury and Capital Market solutions. First central bank project was implementation of Treasury and Loro account Management in Bank of Albania 2002 We developed a complete suite of products for Treasury and Asset Management areas. Treasury Solution catering to Central Banks, Commercial Banks, Government Debt Management and Large Corporate and Asset Management Solution for Banks, Pension Funds, Investment and Insurance Companies. National Bank of Hungary selects our Treasury System for bank-office and settlement purposes. Split of the original FX Software in two companies: FX Software Co., which continues the development on Microsoft platform while 21st Century Financial Systems Co. (TRASSET Co.) develops Oracle platform based solutions. 2003 We had 30+ sites using its suite of products including multinational banks, asset management, pension fund and insurance companies in its client list. By this time our operation was spread directly and through strong partnership alliance across 7 countries in Europe. Software Development Centre established in Budapest, Hungary, a centre dedicated mainly for product research and development. It has 50+ developers, economists and programmers. 2004 - 2006 Hewlett Packard Inc. selected 21st Century Financial Systems Co. as their preferred vendor for Treasury and Capital Market solutions. In 2005 together under HP main contracting we have won the international tender to implement the Central Banking Treasury system for the National Bank of Serbia and the Government Debt Management solution for the Ministry of Finance of Serbia. We continued to establish presence in Europe and had operations in 11 countries in Europe including Italy and Germany directly and through partners. Our customer base grew rapidly; we had more than 90+ sites across the globe. Our solution was rated among top 3 in Central Europe Region. In 2005, we changed our name from 21st Century Financial Systems Co. to TRASSET Co. In 2006, we got our first client in Middle East; we won the tender to implement Treasury and Asset Management solution in world's largest Islamic Bank - Al Rajhi Bank. 2006-07 Our suite of products was made completely Shariah compliant to cater for Islamic Banking needs, while enabling the co-existence of Islamic banking and conventional banking on the same platform. TRASSET added corporate banking solution to its suite of products covering both conventional and Islamic banking products.TRASSET tied-up with China Systems - worlds' no. 1 trade finance solution provider to offer a completely integrated comprehensive corporate banking solution. In 2007 TRASSET expanded beyond Europe. As part of our Global expansion plans, we started our operations in Middle East with the office in United Arab Emirates. 2008 Financial Institutions over 100+ sites in 15+ countries started using TRASSET suite of products, which included big banners like ING Bank, Raiffesen Bank, AXA, Allianz, Al Rajhi Bank etc. Today TRASSET has geographic coverage in Europe, Middle East, Asia and Far East regions with a plan to have a worldwide coverage by 2009-10. 2009 2009 is the year of further expansion: TRASSET opened new office in USA, in Los Angeles, and office will be opened soon in Panama City and Mexico City. R&D Center as well as local support office will be also opened in Malaysia. We have closed major projects (Ministry of Finance, National Bank of Serbia) and we have started new ones in different regions of the world, like ACCESS Fund Management in Hungary or Al Rajhi Kuwait Branch - covering treasury, asset management and corporate suite of products. At the same time TRASSET entered into alliance with several major system integrators and system providers, like S&T Worldwide or zeb/information.technology. We believe that the new alliances will bring mutual benefits to both our partners and us by opening new opportunities on different markets. We at TRASSET are continuously trying to extend our suite of products - that is why we have purchased the software development business unit of our partner company, Menas Ltd. This process brings in-house new products (i.e.: factoring, agent system, automated reporting system for mandatory banking reports) which TRASSET will offer to its clients fully integrated into the existing modules. Over the past couple of years, we've enjoyed steady growth and a rising share of the market. It is thanks to our employees that we have been able to come so far, so fast.


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