Mumbai August 2008: FinEng Solutions today, announced its agreement with Mashreq 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, said: “Telesto will help Mashreq to provide a single view of its clients’ investments and integrate the process of risk profiling, asset allocation and review in one system. The relationship and wealth managers of the bank will be able to track and manage clients’ portfolios through its entire investment lifecycle using Telesto.”


About FinEng

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

About Mashreq

Mashreq began life as the Bank of Oman, based in Dubai, in 1967. Celebrating its 40th birthday in 2007, Mashreq has grown to its current position as the largest private bank in the United Arab Emirates (UAE).

Named the "Best Bank in the UAE" by Euromoney magazine in 2006, Mashreq is among the largest financial institutions in the region. Through a winning combination of innovation, consistency and prudence, Mashreq has established itself as a stable, profitable bank for its customers. Over the past 40 years it has been consistently ahead of the competition in the development of new products and services, whether in foreign trade services, direct banking or comprehensive mortgage products.

For further information please contact media@fineng.com