Lianne Dent, SHRM-CP, Director of Human Resources at St Andrew's Hospital
Posted 2 months ago
SoftPak Financial Systems, Inc
19 Reviews
Verified
Visionary Leaders in Fintech
SoftPak Financial Systems was founded in 1994 and specializes exclusively in enterprise software development, software integration and consultant placement for the financial sector. The company is headquartered in Wayland Massachusetts and has 100 employees worldwide, consisting of product and project managers, developers, QA experts. Our offshore development center, Matrix Systems, is ISO 9001:2015, ISO 27001 (ISMS) certified and working towards CMMI ML 3 with completed Class-C appraisal. SoftPak’s clients are among the leading financial institutions in the country. We have built strong, loyal relationships based on personalized service and close attention to quality and detail. SoftPak’s expertise in developing intuitive software solutions to complex business challenges have made it a proven partner for leading global financial institutions. Our technical consultants bring with them extensive experience in financial services software development, which enables us to integrate quickly with internal business and IT teams.
United States
35 Main Street Ste 5,
Wayland,
Massachusetts
01778
1 (781) 235-3500
United Kingdom
15 Gladstone Road Horsham,
West Sussex
RH12 2NN
Pakistan
603 Progressive Square Nursery,
Karachi,
Sindh
Sri Lanka
No. 6 Tickell Road Columbo 8,
Colombo,
Colombo
$25 - $49/hr
50 - 249
Review Analytics of SoftPak Financial Systems, Inc
- 19
- Total Reviews
- 5.0/5
- Overall Rating
- 16
- Recent Reviews
What Users Say
Softpak delivered a great compliance solution using AI driven fraud prevention and secure audits.
Mohammad Bitar , Deputy CEO at Al Ansari Exchange at Al Ansari Exchange
Softpak brought innovation, empathy, and excellence, revolutionizing elderly care at COLISEE.
Carole Devalla Launay , Business Units Manager I Health I Services at COLISEE
Softpak made our financial security smooth, reliable, and stressfree, with this project
Richard Stott , CEO at Connectum Capital Management, past President CFA Society Norway and past Chairman BNCC at Connectum Capital Management AS
Softpak transformed our portfolio management with AI driven insights & real time analytics
Sundeep Kumar Mehta , Custody and Clearing- VP & Head of Domestic Sales at BNP Paribas Securities Services at BNP Paribas - Securities Services
A transformative experiencel, Softpak delivered beyond expectations with innovation and care.
Ramzi Bazzy , Vice President of Business Development at Dubai Investment Fund (DIF)
What Users Like The Most
- What truly sets Softpak apart is their deep commitment to understanding our vision and values. They didn’t just see us as clients, they became partners in our mission. Their team went above and beyond to ensure the solution was designed to the specific needs of our residents and caregivers. I appreciated their ability to take complex AI functionalities and make them accessible, intuitive, and relevant to our elderly care model.
- What stood out was that they genuinely understood our unique requirements and offered solutions that would meet those needs, Unlike other software providers we have worked with, they did not provide the standard multipurpose solution but worked closely with us to develop a solution for us.
- What stood out to me most about Softpak was their deep understanding of our needs. Instead of offering a general solution, they took the time to learn about our business model. They engaged our team in thoughtful conversations, ensuring they understood how consultation with placed experts ties into property management and our clients evolving priorities.
What Users Like The Least
- If there is anything, I would point out that, there was a slight delay during the final implementation phase due to additional adjustments we requested, this cannot be seen as negative since we were the cause of the delay
- I find it difficult to pinpoint an issue regarding this particular project.
- While everything turned out well the only area I noticed issues was with the initial stage as they took their time to understand our company which led to a bit of delay but they made up for this slight delay.
Detailed Reviews of SoftPak Financial Systems, Inc
19 Reviews
- All Services
- Mobile App Development
- Software Development
- Testing Services
- Business Services
- Relevance
- Most Recent
- Rating: high to low
- Rating: low to high
Pablo Borquez Schwarzbeck, Founder at ProducePay
Posted 10 months ago
Transformative Collaboration with SoftPak Financial Systems
Caroline Horgan, Brand Manager at Alliance Packaging ltd
Posted 10 months ago
Exceptional App Testing Services That Ensure Quality and Reliability
Chad Sanderson, CEO @ Gable.ai (Shift Left Data Platform) at Gable
Posted 10 months ago
A Game-Changing Partnership with SoftPak Financial Systems, Inc.
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Executive Interview of SoftPak Financial Systems, Inc
Naaz Scheik
CEO & Founder
Please provide your feedback on how GoodFirms has contributed to increasing your visibility among potential clients?
We are honored to be recognized by GoodFirms, an independent reviewer and assessor of financial services and tools. This acknowledgment is a significant validation of our product, the Universal Rebalancer (UREBAL), and our efforts to enhance visibility among registered investment advisors who seek the best solutions for their businesses. We also understand that the financial community trusts GoodFirms for its unbiased evaluations of various financial products and services. Since our feature on GoodFirms, we've seen a noticeable increase in the visibility of our Rebalancing tool, which aligns with one of our key goals.
What are the core values and principles that drive your company's culture, and how do you ensure alignment with these values across your team?
The core values of SoftPak are respect for every member of the team, courtesy and teamwork are also the cornerstone of SoftPak. High-quality work, equality, and punctuality. SoftPak focuses on professional growth, a culture of nurturing and growing is embedded in the values of all our employees. We also provide in-house training and professional coaches for growing together and grooming. Celebrate success and accomplishments together.
Can you highlight some of the key achievements or milestones your company has accomplished since its inception?
SoftPak started as a service-based full-service custom software development company initially, but through our hard work and perseverance, our team developed products of our own as well, due to which we have been profitable every single year since our inception. SoftPak’s major competitors are large financial institutions across the globe mainly in America, Canada, Australia, and Europe. Moreover, our services are mostly based in the US, but we have been developing offices offshore as well.
Could you explain your company's business model? Do you primarily operate with an in-house team or utilise third-party vendors/outsourcing?
The company’s business model is based on offshore production. SoftPak produces everything in-house, we do not outsource any of our products and services. We have an office in Boston, United States for the sales and support team as well as product design and client services. However, our software development is all done offshore. The benefit of our in-house production is that we have strong visibility and control ensuring quality assurance through this process as well.
How does your company differentiate itself from competitors in the industry?
SoftPak Financial Systems differentiates itself through its agility, innovation, and cost-effectiveness, which stem from our small size and focused approach. We are highly responsive to client needs, resolving issues quickly and efficiently. Unlike other software companies, our team is specialized in fintech, and many members of our team have advanced mathematical backgrounds as well as being well-versed in the business needs of the financial sector. Softpak has also been in business for over 30 years, forming long-standing trusting partnerships with our clients. This is a testament to how we approach some of the most complex business challenges in the investment world, our ability to adapt and embrace new technology, and above all our commitment to the highest standards of quality. Lastly, I would say that our company size is small, which helps us keep our costs down, making us very competitive from a pricing standpoint.
How would you describe the dynamics within your team, and how do you foster collaboration and teamwork to achieve common goals?
When I started the company, I wanted to build a company that would last and have a generational impact on our employees’ lives and families. To do that, we focused on a culture of respect, processes, professional growth, and development. Culture is something that is often overlooked, especially when companies are growing fast. We are careful about hiring and we put processes in place that ensure diversity, gender equity, celebrations of milestones, and clarity about roles and responsibilities. By aligning individual strengths with project needs, ensuring team members contribute effectively to shared goals. SoftPak also invests in professional growth with in-house training and coaching, which enhances both teamwork and individual development. Celebrating successes together keeps us motivated and united in delivering high-quality solutions. We have an incredible track record for employee retention, but for those who have moved on to their next opportunity, I consider that an achievement as well, knowing that SoftPak played a part in their career growth.
Could you share a notable success story or case study that exemplifies the impact your company has had on a client's business?
A notable success story that comes to mind is a recent project we did for one of the world's biggest banks. They asked to develop a proposal generation system, as they planned to attract more than 250 clients a week. We believe they have now reached 400 clients per week, and they are extremely happy with our progress, they are initiating more work for us to improve their scalability for the future.
What industries do you primarily cater to, and do you have a significant percentage of repeat clients? If so, what is the ratio of repeat clients?
We primarily serve the fintech industry, focusing on investment registered investment advisors for our flagship product UREBAL, financial institutions, and wealth management companies. A significant portion of our business comes from repeat clients, reflecting the trust we’ve built. In fact, around 80% of our clients return to us for ongoing solutions and services.
What initiatives does your company undertake to foster innovation and stay at the forefront of industry trends? Do you invest in research and development projects?
At SoftPak, we heavily invest in research and development projects. Since we primarily focus and work on quantitative portfolio management where there are a few aspects that always need to be looked at for example optimization and risk analytics performance. This is why we have built an in-house optimizer as well as an in-house risk model manager. We also continuously do research projects so our team can perform better and learn through this process.
How do you build and maintain strong relationships with your clients, and what mechanisms do you have in place for gathering and acting upon client feedback?
We have a client relationship manager who is always in touch with our clients to gain their feedback and this helps us be in check to improve our services and be at the forefront of things. We keep track and data of our clients' issues that are reported to us, our Boston office handles client queries, and our tech officers ensure whatever issues are reported so that is one of the ways we keep our clients happy and satisfied with our prompt responses.
How has your company adapted to changes and challenges in the business landscape, and what strategies have you employed to ensure resilience and sustainability?
We are very well versed in all fintech regulations in the various tax code and other business rules and regulations that come up or as they change. SoftPak also subscribes to a bunch of publications that keep us informed in advance about what is coming in and it's very important that we implement these changes ahead of time as tax codes or SEC codes must be carefully vetted before they are implemented in our field of work. We always ensure we are compliant with the tax code or SEC code to avoid any sort of mishaps and issues.
What payment structure do you typically follow when billing clients? Is it Pay per Feature, Fixed Cost, or Pay per Milestone (phases, months, versions, etc.)?
For all our products we charge an annual licence fee. We offer a breakdown of four quarterly payments and clients are usually happy with the payment structure. However, we seldom take on a one-off project and break it down into pieces. Each part is called a milestone. After every achievable milestone we prepare a payment schedule and show it to the client upon the client's satisfaction we are flexible with the payment plans.
Do you accept projects that meet your basic budget requirements? If yes, what is the minimum budget requirement? If no, what is the minimum budget you have worked with in the past?
Because we are a small company, we have to be selective with our time and focus, which is why we don’t typically take on projects that are less than $100,000.
Can you provide an overview of the price range (minimum and maximum) of the projects your company worked on in 2023?
Last year, our projects ranged from a hundred thousand dollars to two million dollars.
What technological capabilities does your company possess, and are there any ongoing or planned investments in technology infrastructure or tools to enhance your services?
SoftPak is a full-fledged fintech software development house. We have two teams; one is digital-based, and the other is web technology-based. We use lots of different software for software development, for example, source code control, project management, product management, and resource management. Best practices are also another cornerstone of our work and process until we reach the implementation stage of our work. We are also CMI3 certified, so we strictly follow the software development process, we are proudly a full-function software house, but we still specialize in quantitative finance. That is our unique selling point within the software industry, which is the quantitative finance service specialty.
Where do you envision your company in the next 10 years? What are your long-term goals and aspirations for growth and development?
The company has been growing for the last several years and we picked up the pace of growth, but now we are really paying attention to our sales, marketing, and PR branding and we are on a faster growth trajectory. I wouldn't be surprised if the company grows maybe fivefold and goes public in the next 10 years or so.