QUINCY, Mass., Feb. 9, 2012 /PRNewswire/ -- Boston
Financial Data Services, Inc., a leading financial services
provider, introduces its new Financial Intermediary Administration
(FIA™) Solutions business. There has been a shift in the
industry due to financial intermediaries transitioning to an
omnibus environment. Boston Financial has developed
customized FIA services that assist fund companies in the
management and oversight of their intermediary
relationships. Leveraging Boston Financial's deep
experience in shareholder servicing and data management, FIA
Solutions offers servicing and automated tools that foster
increased transparency and oversight, in addition to mitigating
risk.
Boston Financial's FIA Solutions provides intermediary data and
relationship information, improves intermediary payment
administration, and simplifies inspection and monitoring
obligations. It helps fund companies understand and track key
aspects of their financial intermediary relationships through one
portal. Boston Financial's customized capabilities provide
fund companies with a dynamic suite of services that support their
evolving business models.
Terry Metzger, president of
Boston Financial, notes, "Boston Financial's FIA offering
reinforces our commitment to identify and solve industry needs and
gaps. We concentrate on new products and services that help
our clients succeed in this constantly changing marketplace.
We are excited by the positive response from our clients to the FIA
product suite and look forward to expanding our capabilities as the
industry further evolves."
Client engagement through focus groups and an "early adopter"
program was a key factor in identifying opportunities to address
fund company needs and in developing the FIA suite of
services. Commenting on the collaboration, Michael McNeill, FIA division vice president
said, "Client input is critical to Boston Financial's entire
product development process. We have worked closely with our
clients to deliver relevant and timely solutions that streamline
the operating environment. Our objective is to continue to
provide market-leading, cost-effective ways to support our clients
as they expand their distribution through financial
intermediaries."
There are three primary components of Boston Financial's FIA
offering:
- FIRMport(TM) - Provides a comprehensive view of all
aspects of a fund company's intermediary relationships through a
dynamic on-line portal that also includes enhanced business
intelligence, trending, and proactive alerts.
- Intermediary Payment Administration - Offers a full
service solution with automated tools for the validation and
approval of all intermediary compensation payments, while also
supplying trending and reporting functionality.
- Intermediary Operational Reviews - Enhances a fund
company's oversight and due diligence practices by documenting an
in-depth, on-site review of an intermediary's processes and
procedures and capturing all observations in a detailed
report.
Boston Financial will continue to develop new FIA applications,
collaborating with clients to meet their evolving needs.
About Boston Financial
Boston Financial Data Services is one of the industry's
premier outsourcing providers servicing the financial marketplace.
Boston Financial is a joint venture between DST Systems, Inc.
(NYSE: DST) of Kansas City, Mo.,
and State Street Corporation (NYSE: STT) of Boston, Mass. This joint venture has enabled
Boston Financial's clients to utilize DST's industry-leading
software and technology while benefiting from the institutional
support and global reach of State Street.
For more information, visit our web site at
www.bostonfinancial.com.
SOURCE Boston Financial