Dassault Systèmes, a product design software provider, has launched its first product for the financial services sector.

The companies "Product Innovation Factory" aims to make it easier for financial service providers to create new products and change existing ones to meet customer and regulatory demands.

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Monica Menghini, executive vice president of industry and marketing at Dassault Systèmes, said: "Financial services firms must constantly innovate in order to profitably meet customers’ needs while maintaining their bottom line performance."

She added: "With the rigor of an explicit, repeatable and fully traceable product creation process, "Product Innovation Factory" establishes the foundation needed to provide speed and agility to deliver new financial products and drive market profitability."

According to Dassault Systèmes the "Product Innovation Factory" intends to allow financial services companies to develop, manage and organise complex product details in real-time, from anywhere and with full control.

Dassault Systèmes estimate that 20%-30% efficiency can be saved by spending less time collecting, organising and validating data.

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Dassault Systèmes develops and markets product lifecycle management application software and services that support industrial processes.

 

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