Mumbai April 2008: FinEng Solutions has announced that Barclays Egypt has signed an agreement with FinEng to implement their wealth management product Telesto.

Telesto is a leading suite of products that spans the wealth management lifecycle, and is tailored for the use of relationship and wealth managers of private banks. The product is proven, scalable, and provides the technology that allows firms to increase their level of customer service, reduce costs and enhance revenue.

Unmesh Nadkarni, Business head for Telesto commented, “The implementation at Barclays Egypt will help the group create a single repository of their clients’ financial relationship with the institution and that of all the relationship managers’ interactions with their clients. Barclays PLC has been our valued client for over a year now, having implemented Telesto in India, Kenya and the UAE. The implementation in Egypt further strengthens our relationship with Barclays.”

About FinEng

FinEng is a software company developing and supporting products for the financial services industry. They have expertise in institutional funds management, wealth management and credit risk analysis. FinEng has 2 offices located in Mumbai and Chennai and a global clientele.

About Barclays PLC

Barclays PLC is a major global financial services provider operating in Europe, the United States, the Middle East, Latin America, Australia, Asia and Africa. It is a holding company that is listed in London, New York and Tokyo. Barclays PLC is the 18th largest company in the world according to Forbes Global 2000 rankings (2007 list). Barclays PLC is the 4th largest financial services provider in the world by Tier 1 capital ($32.5 billion), and among the 10 largest banks in the industry by market capitalization ($94.79 billion). It is the third largest bank in the United Kingdom based on market capitalization.

For further information please contact media@fineng.com