Xterprise Inc., a provider of enterprise-class RFID-enabled software applications, has announced plans to expand its collaborative relationship with the Financial Services Technological Constortium (FSTC). The increased collaboration comes at a time when the financial services industry is particularly challenged to find new ways to reduce costs and improve performance, and is looking to technological innovation as one solution.
The FSTC was founded in 1993 in response to the initial commercialization of the Internet. The organization’s mission is to apply emerging technological advances and innovative ideas to the financial services industry. Members include some of North America’s largest financial institutions, other finance-oriented businesses, technology providers, government representatives and academics.
Xterprise and its strategic partner Microsoft have worked in the past with FSTC and its members on a number of technology adoption efforts, including attempts to standardize the use of RFID-enabled tracking systems to protect data center and IT resources. The announced expansion of the FSTC-Xterprise collaboration signifies the increase of these efforts.
“No industry has been more affected by the economic downturn than the financial industry,” said Rich Feldmann, U.S. banking industry solutions director at Microsoft. “Financial institutions are under pressure to reduce costs and show immediate improvement, and their leadership is increasingly turning to IT to find innovative ways to achieve these goals.” ![[end]](/resources/bullet/archive-4.gif)
