Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VIENNA, Va. – FOLIOfn, Inc. will license its software and intellectual property to a multi-national financial services company for use in a foreign market. The license arrangement is expected to bring in “several million dollars” in revenue during the balance of 2002 and into 2003. Due to “competitive reasons,” FOLIOfn can not divulge the name of the company or the foreign market in question, said Kara Palamaras, communications director. “This agreement marks a very significant milestone for our company,” said Steven Wallman, founder and CEO of FOLIOfn. “This market environment has been challenging to most financial services companies over the past two years. We launched our first offering at the beginning of a very volatile bear market, and have had to grow against that headwind ever since.” Wallman said the “additional financing and revenues that are now committed from other sources, has allowed us to overcome those hurdles and to grow successfully as an independent company.” The company “will still look for growth capital, but (the) license and the related revenue and financing activities we currently have committed should allow us to achieve our financial goals over the next couple of years,” he added. FOLIOfn, is a financial services technology company that delivers brokerage and investment solutions to financial services firms. Through its registered self-clearing broker-dealer subsidiary, FOLIOfn Investments, Inc., the company offers an integrated brokerage and technology platform featuring Folio-trading capability, execution, clearance and settlement services.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times
Live Chat

Copyright © 2022 ALM Media Properties, LLC. All Rights Reserved.