ROLLING MEADOWS, Ill., Dec. 23, 2013 (GLOBE NEWSWIRE) -- Q4 Systems Corporation (OTCQB:QFOR) ("Q4") is pleased to announce the extension of its contract with Lewtan, a pioneer in providing asset backed securities (ABS) software, data analytics, and services.
Q4 will build and provide a software development, analytics and quality assurance team of thirty professionals to augment Lewtan's ABSNet product offerings. Lewtan's clients include issuers, investors, underwriters, servicers, credit enhancers and rating agencies representing more than 300 financial institutions worldwide that rely on Lewtan's intelligence and surveillance solutions.
Ned Myers, SVP for Market Development of Lewtan, stated, "Q4 has been providing software development, QA and data analytics to Lewtan for the past 8 years. We have always been very impressed with Q4's robust software engineering processes, its resident knowledge of Lewtan's products/services and its ability to scale in short notice. We were looking for a global partner that could not only offer a comprehensive, turn-key solution to help us implement scalable, cutting-edge initiatives but who also brought significant financial services market domain, and Q4 Systems met that challenge."
Raj Kumar, Vice President - Financial Services of Q4, said, "We have built a solid partnership with Lewtan for some time, and it is exciting to formalize a dedicated global center that delivers software development, enhancement, and testing for their premier product, ABSNet. Q4's analytics group is providing 24x7 support to Lewtan's global teams, and together we are delivering world class solutions to the global financial services market place."
About Q4 Systems Corporation
Q4 Systems is an IT software company that develops and implements mission-critical cloud-based enterprise systems for both Fortune 500 companies and smaller enterprises. With over 1000 associates around the globe, Q4 services over 150 companies worldwide. The company is a leading provider of Health Exchange platforms (QHIX) and a proprietary set of SMAC (social media, mobility, analytics and cloud computing) technology solutions to enterprise clients in the Financial Services, Health Care, Retail and Manufacturing sectors. More information about Q4 Systems can be found at http://www.qfor.com.
About Lewtan
Through offices in North America and Europe, Lewtan offers a wide range of data, software, and analytics solutions to the global asset-securitization industry. Lewtan provides risk assessment and valuation while facilitating greater transparency, better decision-making, and greater access to capital in the global financial services markets. Lewtan's flagship products for the securitization platform, ABSNet and the ABS System, unite the data flow between the hundreds of issuers and investors that Lewtan serves. More than 300 institutions worldwide rely on Lewtan's intelligence and surveillance solutions, and the company has twice been named Global Technology Provider of the Year by the International Securitisation Report. More information is available at www.lewtan.com.
Forward-Looking Statements
This release contains forward-looking statements, which are subject to the inherent uncertainties in predicting future results and conditions. Any statements that are not statements of historical fact should be considered to be forward-looking statements. Certain factors could cause actual results and conditions to differ materially from those projected in such forward-looking statements. We do not undertake any obligation to release publicly revised or updated forward-looking information, and such information included in this release is based on information currently available and may not be reliable after this date.