TORONTO, April 4, 2012 /CNW/ - International Financial Data Services (IFDS) Canada, a leading provider of technology and outsource services to the financial services industry, announced today their intention to support FundSERV's GICSERV GIC origination and settlement standards as part of their servicing solutions for Canadian deposit taking institutions. FundSERV, GICSERV and the GIC origination and settlement standards are provided by FundSERV, Inc.
IFDS recently announced the introduction of a new technology and operations outsource solution focused on the needs of deposit taking institutions, launching summer 2012. The IFDS Deposit Servicing solution will provide a low cost, innovative and reliable alternative to traditional 'in-sourced' solutions. In addition, the IFDS solution will support existing automated sales channels including GICSERV, FundSERV, CANNEX, and will support client named account orders through branch, direct sales and deposit brokers.
"As a founding FundSERV Member, we are pleased to be able to offer banks, credit unions and trusts companies one of the simplest, fastest and lowest cost platform options that support the GIC Dealer community," said Debralee G. Goldberg, President & CEO, IFDS Canada.
"IFDS has been a key supporter of FundSERV and has historically been a driving force in standardizing Canada's mutual fund purchase and settlement environment," said Brian Gore, President of FundSERV. He further stated "IFDS' support of the GICSERV initiative confirms our belief that Canadian financial institutions are looking to improve efficiencies and reduce costs for their GIC and deposits processing."
IFDS continues to be recognized for innovative solutions, technology, and most recently for its corporate social responsibility. IFDS won the "Best Use of Technology" award for two years consecutively in 2009 and 2010 at the Canadian Investment Awards and was recognized with "Most Innovative Project of the Year" at the 2011 ICFA Americas Service Provider Awards. IFDS was also honoured by the 2011 Stevies American Business Awards for "Corporate Social Responsibility" and for being the "Most Innovative Company of the Year."
FundSERV Inc. is a leading provider of electronic business services to the Canadian investment industry. Established in 1993, FundSERV is the most efficient investment transaction processing system in the world. Today, the Company's focus is on the data standards and security infrastructure that will enable the industry to continue to apply technology for the ultimate benefit of the Canadian investing public. The company serves more than 700 organizations and their business units and provides online access to over 10,000 investment fund instruments. The Company also supports the committees and working groups that address issues and develop electronic data and security standards for the industry.
IFDS Canada creates the technology and service solutions the financial industry is built on. Leading investment and insurance providers trust IFDS Canada for their award-winning record-keeping platform and back office services. For more than 30 years, IFDS Canada's knowledge, experience, financial strength and advanced technology have enabled their clients around the globe to achieve their business goals and their investment in the future will help them continue to lead the way. www.ifdsgroup.com
NOTES TO EDITORS:
International Financial Data Services ("IFDS"):
Is a 50/50 joint venture between affiliates of Boston-based State Street Corporation, the world's leading provider of services to institutional investors, and DST Systems Inc., a Kansas City, Missouri-based leading provider of shareholder accounting services and proprietary systems.
IFDS is today recognized as the world's leading provider of investor record keeping and transfer agency solutions on a BPO (Business Process Outsourcing) and ASP (Application Service Provision) basis. Our services are provided to a wide range of global collective investment, wealth management and platform clients, supporting over 18.5 million accounts for over 200 organizations, over 8,500 share classes and with over 3,500 experienced staff based in four locations (Canada, Ireland, Luxembourg & United Kingdom). Figures as December 31, 2011.
State Street Corporation:
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $21.8 trillion in assets under custody and administration and $1.9 trillion* in assets under management at December 31, 2011, State Street operates in 29 countries and more than 100 geographic markets. For more information, visit State Street's web site at www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust (approx. $63 billion as of December 31, 2011), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors serves as the marketing agent.
DST Systems, Inc.:
DST Systems, Inc. provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for financial services and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly-traded company on the New York Stock Exchange.
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