History of NFS
The modern treasury function was created in the 1980-ties when the financial markets were deregulated and financial risks could be off-loaded in the financial markets. Besides the deregulation the evolving information technology made treasury activities expand very fast. The Scandinavian countries early adopted this evolution especially in the technical field and there were a large amount of Treasury Management System vendors starting – of which SimCorp and Trema (now Wall Street Systems) were the most successful. Scandinavian corporate treasury practices were among the leaders in the late 80-ties and early 90-ties by ABB, Volvo, Electrolux and Ericsson and other large multinational companies. It was with this background NFS was created in 1992.
However NFS early started to plan for that treasury and business would be globalized and virtualized and that Scandinavia was a too limiting geographical area to reach our long term growth targets. We therefore decided to expand our geographical scope to cover a larger region with a niche offering and at the end of the 90-ties we had expanded our market to include Western Europe, Americas and Asia Pacific.
The original business mission of NFS was formed in 1992-94 from Magnus Lind’s – the founder – experiences of corporate and bank’s treasury operations. Their IT solutions are very complex and they did not have any internal or external counterpart to assist in issues relating to support and development. This was and still is especially true for many corporate treasury, asset managers, central banks, government debt offices and bank treasuries. They usually have few users and the internal IT support is not sufficiently specialized. NFS has created proprietary methods and models to handle this situation – one is
NFS Treasury Support Center™. With time we gradually have widened the scope of our services while staying faithful to the treasury industry.
In 2004 NFS co-founded the European Treasurers’ Peer Group (ETPG) together with a handful of large multinational companies. Since then the ETPG has grown in numbers and participated in developing the treasury profession. In 2008 NFS sponsored the ETPG launch of a new Treasury Benchmark initiative.
Over the last few years NFS has expanded its scope to cover a larger area of consultancy to corporate treasuries and financial institutions:
NFS has customers in over 30 countries in three time zones and is a privately held company.