Financial Services

The Financial Services industry includes several different lines of business such as Mortgage Banking, Security & Commodity Brokers, Pension, Health, and Welfare Funds, Holding & Other Investment Firms, Real Estate Investment Trusts (REITs).

The 1999 REIT Modernization Act, Financial Services Modernization Act (FSMA) and the Gramm-Leach-Bliley Act of 1999 (GLBACT) have all changed the way the Financial Services industries operate.

The REIT Modernization Act allows REITs to own taxable subsidiaries that provide various services, both to the parent REIT and tenants. While some subsidiaries provide routine services such as dry cleaning, others have the potential for greater income, such as real estate management, telecommunication services, real estate development, and construction.

The Financial Services Modernization Act (FSMA) has lifted many restrictions on the permitted lines of business for an Investment Bank. Banks are now engaged in credit card services, equipment leasing, real estate investment trusts, hedge fund operations, and commercial banking.

Because of these regulation changes, Financial Service organizations need more flexibility with their accounting systems including the ability to track, reconcile, and report on various segments of their business.

The Flexi solutions were developed with flexibility in mind and can assist companies in the Financial Services industry manage their various lines of business.

Financial Statements

Real-time posting allows you to generate daily financials statements, which can include un-posted transactions. Drilldown capabilities provide the details to support all balances. You do will not have to wait until the end of the month to find out the financial health of your business.

Allocations

Rules-based allocations provide the flexibility to spread costs to many divisions, departments, or cost centers.

Consolidations

Flexible consolidation rules allow for unlimited consolidations, inter-company eliminations, and full reporting.

Streamline Processes

FlexiFinancials helps businesses become more efficient and productive while still having all the security and controls your business demands.

Attach an Excel spreadsheet, document or image to any transaction!

Add a Sticky Note to any transaction!