UK-based financial services systems integrator AIT has reported pre-tax profits of 2.2m pounds for the year to 31 March 1998, up 40% from last year’s 1.5m pounds. Revenues increased 21% from 11.2m pounds to 13.6m pounds, and operating margins improved slightly from 14% to 15%. The Henley, Oxfordshire-based company, which raised 1.6m pounds net on the London Stock Exchange last June, had 2.6m pounds cash at its year end. AIT provides front-end systems integration for large retail financial services companies and recently added a consultancy arm called Channel Services to help financial services groups develop strategies for using new technology. Major customers include NatWest, The Halifax, Standard Life and Tesco Personal Finance in the UK. AIT also has a long-term contract to supply call centers, internet sales software and kiosks to KeyCorp ,the 14th largest US retail bank, and is involved with computer services giant CSC in setting up call centers for First Tennessee Bank. It also has a technology partnership with US banking software supplier FIserv. Another new market for AIT is Web TV and internet banking, and an unnamed UK bank is currently carrying out a home banking trial using AIT’s software.
