For more than 10 years, Wealth Management System Limited (WMSL) is considered to be a leading financial software company. The company provides reliable, trusted solutions to financial institutions in asset, treasury and risk management. With its innovative software systems and value-added consulting services; WMSL has gained more than 40 percent of the market share in the financial application sector, whereas the company has also gained the most of the market shares on the Basel II consulting projects.
With proven success and the experience, WMSL plan to move forward to a more challenging environment in Asia Pacific and the Middle East. With that, WMSL agreed to a joint venture with Alchemy Technologies, which is a boutique Enterprise Risk advisory firm focusing on Basel II solutions. In terms of market share, Alchemy customers represent more than 75% of banking and 80% of life insurance assets in Pakistan. The company's flagship product, the “Alchemy Risk Manager” has won multiple industry awards and has been successfully implemented at multiple client sites including banks and insurance companies.
In its vision and objective corporate management to build the Risk management system with high effectiveness and to strengthen its processing business, WMSL and Alchemy have agreed to the joint venture for the Basel II consulting since the 15th of November 2006. Both of the companies Executive teams have the future perspectives to achieve lasting improvements in its performance and long-term success with its clients and to expand their target market in Asia Pacific and the Middle East. In addition, the partnership will give more benefit to their clients from experienced professionals in Risk management.
