Innovest Offers Trust Company a Scalable, Cost Effective Accounting Solution
New York, April 26, 2005 – Innovest Systems announced today that its InnoTrust real-time accounting platform has been selected by Fiserv Investment Support Services (Fiserv ISS) Financial Institution Services. The ASP delivered technology platform will be used by Fiserv ISS to support its wealth management outsourcing business offerings.
Bert Deardorff, Vice President, Financial Institution Services, said, "InnoTrust provides a complete package of capabilities incorporating all of the requirements for global trust accounting in one system. Its system is a true open architecture platform that provides us with the flexibility required to meet each of our outsourcing bank client's specific needs."
Fiserv ISS Financial Institution Services provides complete outsourcing of wealth management and trust services to the banking industry, including retirement products such as IRAs and 401(k)s. Clients using these services are able to remain focused on managing their own customer relationships while the time-consuming administrative, back office and recordkeeping functions are handled by Fiserv ISS. With Fiserv ISS, financial institutions become a single-source provider, with the breadth and depth of products and services expected by high net worth customers.
William J. Thomas, Innovest's chief executive officer, said, "We are excited to have been selected by Fiserv ISS as its trust and wealth management outsourcing platform. Fiserv ISS' financial services expertise coupled with Innovest's state-of-the-art trust system will bring great advantage to firms looking to outsource their trust operations."
InnoTrust is a secure, integrated, real-time trust accounting and reporting system provided in a highly flexible and scalable Application Service Provider environment. InnoTrust was developed to address the needs of forward-thinking asset management firms by leveraging modern technology.
About Innovest Systems
Innovest Systems, LLC provides trust accounting and securities processing systems, via a technology solution that surmounts the imitations of yesterday's legacy systems. Innovest's flagship product, InnoTrust, is a secure, integrated real-time trust accounting and reporting system offered in an Application Service Provider (ASP) environment. Innovest's highly flexible platform offers a dramatically better way to support the trust accounting and securities processing needs of trust companies, trust and custody departments of banks, wealth management firms, and private banks. Innovest is headquartered in New York City. For more information about Innovest Systems, visit www.innovestsystems.com.
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Media: Fraylie Nord