Datasoft Group of Companies
| File:Datasoft Group of Companies.svg | |
| Private | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 1999 |
| Founder 👔 | Rahim Harji |
| Headquarters 🏙️ | , |
Area served 🗺️ | Worldwide |
Key people | Rahim Harji (CEO), Jon Eckler (COO) |
| Members | |
Number of employees | 51–200 (July 2023)[1] |
| 🌐 Website | Datasoft Website |
| 📇 Address | |
| 📞 telephone | |
Datasoft Group of Companies (commonly Datasoft) is a Canadian Fintech company that develops financial applications for foreign exchange and payment software solutions. The company is headquartered in Toronto, Canada, and is a leading provider of technological solutions. Datasoft aims to craft technological solutions that create value for clients’ businesses. Datasoft is recognized as a multi-national Fintech company serving banking and non-banking institutions and B2B clients in North America, Australia, and Europe.
History
Datasoft traces its roots to 1999 when it started with a few employees. It started constructing FxOffice in 2005 and established its dedicated development center in 2008 in Karachi. In 2011, Datasoft launched FxOffice enterprise in Canada. In three years, it expanded its operations in Australia and USA in 2014.
2016 was a year of revolution for Datasoft when the product was expanded to the UK. The company also introduced new industry verticals via API connections. In 2020, the company attained SOC 2 type 1 accreditation. A significant leap was observed in the subsequent year when the company launched FxOffice Platform-as-a-Service (PaaS)[2] and FxOffice SalesIQ front office branch and agent portal in 2021. In the same year, Datasoft Smartforms was deployed for digital onboarding.
In 2022, Datasoft attained SOC type 2 accreditation with web 4.0 released for FxOffice. Most recently, at the end of the same year, Datasoft launched a new platform titled Cadency, a credit management cloud platform designed to automate and improve the accounts receivable processes, serving B2B customers.
Operations
Datasoft extends its operations to 700 companies with FxOffice solutions for FX dealing, risk management, and compliance. The company offers cloud-based solutions for international payments where businesses with B2B clients can enhance their payment processes and accounts receivables. The core offering of Datasoft embeds a correspondent banking-as-a-service platform[3]. With FxOffice, banks, brokers and money services businesses can benefit from global coverage, competitive FX liquidity pricing, and optimal payment routing within an end-to-end technology platform. Leveraging the power of the FxOffice platform and Datasoft’s curated global partners is set to transform how financial institutions source FX liquidity and grow global payment rails. Datasoft serves in Toronto, Canada, with its head office. The clients and business are extended to the USA, UK, Australia and Europe
Functional Areas and Solutions
Datasoft covers many functions with their FxOffice and Cadency technological solutions.
FX Office Functions
- Financial Accounting Functions
FxOffice offers a complete foreign exchange solution in financial accounting that includes front-end, back-office, and middle-office functionality. It also provides real-time data and insights to monitor the position of cash flow, profit and loss, blotters, and ladders.
- Credit Risk and Trading Functions
In this domain, FxOffice offers limitless pricing templates for customers empowered with auto-pricing or manual trader intervention pricing features. With seamless mid-office integration functions, the product covers confirmations, payments, collateral management, limits, and workflow. The risk exposure reporting tool is another significant feature important to track risk in real-time
Extensions
FxOffice and Cadency offer API to integrate and escalate the existing functions of the software to enhance efficiency. FxOffice enables customers to optimize, customize and innovate their own products. The product continuously evolves to support more applications and functions to improve the user experience.
Similarly, Cadency offers integration with a number of existing enterprise resource planning (ERP) platforms that include Quickbooks, Xero, Sage, and Oracle’s NetSuite, among others. With this integration, the ERPs can automate their functions and sync their existing invoices, customer information, payment methods, and other information to enhance the productivity and efficiency of their existing platforms and systems.
This article "Datasoft FxOffice" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Datasoft FxOffice. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
- ↑ "Datasoft". July 14, 2023. Retrieved July 14, 2023.
- ↑ "Datasoft Embeds Correspondent-Banking-as-a-Service into its Core Offering Datasoft's FxOffice Platform-as-a-Service Launch Enables Unparalleled Access to Global Payments Corridors". GlobeNewswire. Retrieved 2021-04-19.
- ↑ Katz, Charlie (2021-01-03). "Datasoft Embeds Correspondent-Banking-as-a-Service into its Core Offering". GlobeNewswire. Retrieved 2021-04-19.
