Corticon Technologies
Unveils the First Decision Management Software for the Financial
Services Industry
STW Fixed
Income Management fully integrates Corticon enterprise software
into securities trading system
SAN MATEO, CALIF., October 29, 2001—Corticon Technologies,
a supplier of enterprise software for the financial services and
insurance industries, today announced that STW Fixed Income Management,
a $8 billion institutional asset manager, has selected Corticon's
Decision Management Software to seamlessly enable the in-process
enforcement of individual customer account guidelines. Corticon
is the first enterprise software provider to automate and manage
complex and volatile business decisions. This full integration of
Corticon's software with STW's securities trade capture system was
managed with minimal IT assistance and maintenance.
STW incorporated Corticon's Decision Management Software into its
trade capture system to easily comply with frequently changing customer
requirements. At the same time, the company was able to virtually
eliminate noncompliant trade allocations. Corticon's software automatically
assesses a trade for compliance, before the trade is allocated to
a client's account. This allows all violations to be tagged and
immediately fed back to the portfolio manager for review.
"The ability to seamlessly integrate Corticon's Decision Management
Software into our trade capture system has saved us time and money,"
said STW Chief Information Officer Tony Plasil. "Corticon's
software has been successful where rules engines have failed in
the past. First, Corticon's software allows the portfolio manager,
instead of the IT department, to directly update and maintain constantly
changing information in real time. Second, now that our managers
have the ability to make changes, our company has seen a reduction
in penalty fines and costly trade reversals."
"The demand for our Decision Management Software is rapidly
accelerating," said Corticon Chief Executive Officer Mark Allen.
"Until now we have seen little progress made in automating
complex decisions. The software bought by STW illustrates that not
only can decisions be automated but they can be directly changed
no matter how complex or volatile the business decision may be."
In an ongoing attempt to maximize shareholders' value, increase
revenue and decrease costs company decision makers are forced to
redefine and refine business strategy and policy. One way to accomplish
this objective is to increase productivity by streamlining the business
process and automating business decisions. Problems arise when there
is no easy way to capture and thus automate complex and volatile
business decisions. Corticon's software directly equips decision
makers with the ability to easily and directly capture, formalize
and automate a company's best policies, practices and guidelines.
This enables the consistent and reliable execution by all employees
throughout an organization.
STW has fully integrated Corticon's software into its securities
trading system and is currently exploring additional applications
including building an accounting system and a projected income system.
"Right away STW saw success with Corticon's Decision Management
Software. We are therefore working with Corticon to enhance some
of our other systems," continued Plasil. Corticon's Decision
Management Software can be purchased for a standard licensing fee
based on the number of CPUs deployed. Yearly maintenance fees are
also applied.
About STW Fixed Income Management
STW Fixed Income
Management, located in Santa Barbara, California, has been a fixed
income manager since 1977. STW manages approximately $8 billion
in assets. Most portfolios are denominated in U.S. dollars, but
home currency sterling and global portfolios are also managed.
About Corticon
Technologies
Corticon™ Technologies provides the leading enterprise software
for the automation and management of decision-intensive business
processes. Corticon Decision Management Software ensures
the consistent, efficient, and reliable execution of a company's
strategies and policies. This results in transformational productivity
improvements in key business processes. Headquartered in San Mateo,
Calif., with an engineering center in Culver City, Calif., Corticon
is a venture-backed, privately held company. Visit http://www.corticon.com
for additional company information.
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