Bricknode introducing game changer within transaction management
The management of financial transactions and accounts represents an area of expanding complexity in need of simplification. Bricknode has invested time and resources to arrive at a new concept, which is called Account Worlds & Dimensions or AWD in short.
Bricknode is now introducing Account Worlds & Dimensions ("AWD"), which is a new concept within account and transaction management. AWD is the largest upgrade of Bricknode Financial Systems ("BFS") since its creation in 2011. AWD uses what is called Business Transactions to define a business event like a deposit of cash or purchase of shares. The Business Transaction then triggers a configurable chain of events resulting in Account Transactions, which simultaneously can create transactions within Customer Accounts (one type of Account World), Warehouse Accounts (another type of Account World) and Accounting Accounts (yet another Account World). These transactions can occur at various dates and in different Transaction Dimensions like the Trade Dimension or the Settlement Dimension. BFS can manage and keep track of an infinite number of Account Worlds and Transaction Dimensions where each Account Transaction chain easily can be configured without any programming skills. By utilizing AWD the users of BFS can easily conduct time consuming operations like reconciliation of external accounts in a more automated way.
"AWD and the associated configuration framework is truly a revolutionary concept," said Stefan Willebrand, Executive Chairman of Bricknode. "We are going to see how this new framework impacts how BFS handles everything from corporate actions to fee processing. With AWD you can litteraly model and implement any sort of business event without the need of programming."
AWD is being rolled out to current Bricknode customers during the first months of 2015 and the framework is already being used by some early adopters.
Learn More About AWD
To learn more about the AWD concept please visit Bricknode.com and our developer site at http://www.bricknode.net/en-GB/concepts/awd-24247279
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.
Stefan Willebrand, Executive Chairman