State Street Continues to Enhance Product Capabilities and Technology
January 18 2007 - 2:00PM
Business Wire
State Street Corporation (NYSE:STT), the world�s leading provider
of financial services to institutional investors, today announced
several product and technology enhancements that strengthen its
comprehensive online information delivery platform for customers,
insurance servicing capabilities, and retirement plan participant
system. �State Street�s commitment to technological innovation
helps our customers to access critical investment information, save
time and streamline services for their own customers,� said Joseph
Antonellis, vice chairman for State Street. �Our understanding of
the industry�s complexities and the constantly evolving investment
process enables us to select the best technology solutions for our
customers� needs.� Alert Center State Street now offers Alert
Center as part of its comprehensive suite of customer applications
offered through my.statestreet.com, its integrated online
information delivery platform which serves as a secure,
single-entry point to a full suite of sophisticated market data and
analysis applications. Alert Center enables customers to configure
alerts across a variety of financial events and receive targeted,
actionable information, such as corporate governance alerts.
Customers can also elect to receive alerts based on operational
events such as the availability of data or new reports or
documents. Alerts can be requested through multiple delivery
channels, including e-mail. The inventory of alerts will continue
to expand, increasing depth and breadth across State Street�s
investment servicing products and evolve to enabling users to
define alerts. Unit Value System (UVS) for Insurance Separate
Accounts State Street�s Portfolio Accounting System (PAS) for the
insurance industry has added the Unit Value System (UVS) to provide
24-hour support for customers with insurance separate accounts
which calculate accumulation unit values using the Net Investment
Factor Method. This system computes these values daily, retains a
historical data repository for a rolling 13-month period, supports
a recalculation process, and is capable of automatic
reconciliations which aid in determining if any aspect of the Unit
Value calculation is missing and maintains consistency within
different accounting systems. mypenpay.com mypenpay.com, a
Web-based tool that provides retired plan participants with direct
and secure access to personal payment information and account
transactions, has added three new components. Online Tax Forms
allow participants to view their 1099R tax form, thus eliminating
the need for retirees to contact their benefits administrator for
lost forms. Automated Stop and Reissue allows participants to
initiate a stop payment on checks that remain outstanding for a
minimum amount of days from the payable date as determined by the
plan sponsor. Online Check Images provide retirees with the ability
to view a front-and-back image of a paid check issued within the
prior 18 months. About State Street State Street Corporation is the
world�s leading specialist in providing institutional investors
with investment servicing, investment management and investment
research and trading services. With $11.9 trillion in assets under
custody and $1.7 trillion in assets under management as of December
31, 2006, State Street operates in 26 countries and more than 100
geographic markets worldwide. For more information, visit State
Street�s web site at www.statestreet.com.
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