Bricknode Financial Systems launched by East Capital
Bricknode (www.bricknode.com) signed an agreement to replace existing systems at East Capital (www.eastcapital.com) by implementing Bricknode Financial Systems (BFS). At East Capital BFS will serve as the complete software platform for back office, financial advisory and end-customer portal. This is the first time BFS is used for real time trading of stocks and fully automated trading of mutual funds.
Bricknode develops and offers a cloud based financial business platform including modules like back office, financial advisory, account management, customer portal, real time trading and insurance. Bricknodes main competitors within financial systems are Advent Software and AbaSec. During May of 2015 Bricknode Financial Systems replaced AbaSec for the first time and now Bricknode replaced systems from Advent Software.
By switching to Bricknode, East Capital is able to deliver real time trading of stocks, automated trading of mutual funds, currency exchange and much more. Everything is accessed by end-customers via the Bricknode Customer Portal. BFS keeps track of custody accounts, counterparty accounts and which transactions are traded and settled. In turn this enables automated reconciliation of accounts.
“Launching BFS for East Capital has been completed in record time even though it included a full migration of each transaction made by customers since 2013. Since BFS is highly configurable it was possible to set up transactional workflows, account types, behaviours and events without having to embark on lengthy programming projects.
East Capital is also the first customer at Bricknode to use e-signing and e-authentication with BankID who is a participating partner in Bricknode Financial Systems.” said Stefan Willebrand, Executive Chairman of Bricknode.
“We are satisfied with finally having found a white-label solution which fulfills our requirements. With more than 9 000 direct customers and a diverse product offering we put high demands on our suppliers.” said Torbjörn Odenhagen, Head of East Capital Direct.
About Bricknode AB
Bricknode is a young innovative company focusing on financial software. Our mission is to empower our business partners to deliver the best financial products to their end customers and partners in the most efficient way possible.
Bricknode Financial Systems is a cloud-based platform, which makes it possible for securities firms and other financial institutions to establish themselves online.
About East Capital AB
East Capital specialises on emerging markets. The company, which was founded in 1997, bases its investment strategy on deep knowledge of the marketplace, fundamental analysis and frequent visits at portfolio companies by its investment teams. East Capital activiely manages 24 billion SEK in listed and unlisted equities and properties. East Capital is headquartered in Stockholm with offices in Hong Kong, Luxembourg, Moscow, Oslo and Tallinn.
Stefan Willebrand, Executive Chairman
Torbjörn Odenhagen, Head of East Capital Direct
East Capital AB