BISYS has formed a strategic alliance with Vestmark aimed at enhancing its servicing solution for separately managed accounts. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />
BISYS will support asset wealth managers with state-of-the-art functionality and a more robust and cost-effective servicing platform following the integration of its proprietary technology with Vestmark's key technology components, including its JAVA-based, scalability technology; a sophisticated workflow engine; and an interface development and maintenance application.
Kevin Keefe, senior vice president of BISYS Wealth Management Solutions, said: "The well-documented operational challenges that asset managers face in today's separately managed account marketplace include the lack of a robust and scalable processing platform; the need to interact with multiple, disparate external platforms; and limited aggregate business line data."
He said: "Until our development of this servicing platform, which will efficiently leverage proven state-of-the-art technology, no servicing solution we know of adequately addresses these key challenges in a flexible and cost-effective way. We are confident that our competitively distinct servicing solution for separately managed accounts will support the near- and long-term demands of this dynamic marketplace."
David Blundin, chief executive officer of Vestmark, added: "We will ultimately establish an industry-leading servicing solution for separately managed accounts."
Vestmark, Inc., based in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Boston, Mass. is an enterprise software company providing managed accounts solutions to the financial services industry. The Vestmark management and engineering teams include the founders and key technologists from several companies spanning the portfolio management, investment analytics, business intelligence, personalization, and content management industries.
By developing innovative workflow and integration capabilities, Vestmark aims to deliver efficiency, flexibility, and scalability to the front- and back-offices of investment managers, sponsors, and service providers. Vestmark supports a range of managed account products, including traditional separately managed accounts (SMAs), multi-style portfolios (MSPs, MDAs, DMAs, etc.), and emerging unified managed accounts (UMAs).
copyright hedgeweek 2004