New York, July 6, 2012 – Innovest Systems announced today that Principal Trust Company has implemented the InnoTrust platform. The implementation, completed in 6 months, will allow Principal Trust Company, one of the nation's largest non?depository trust companies, to further expand its personal trust offering.
Principal Trust Company selected Innovest in early 2012 because the InnoTrust product is a proven, secure, and flexible trust accounting and wealth management system delivered in a Software as a Service (SaaS) model.
"We are very pleased with the success of our InnoTrust implementation," said Deborah Harris, personal trust manager at Principal Trust, "The conversion team made our transition as seamless as possible. We're excited to be using a trust system that will allow us to streamline operations and enhance our ability to serve our customers."
Gretchen Goode, Innovest Systems' vice president of client service said, "The Principal Trust implementation is a great example of the benefits of having a trust system that is built on modern?era technology. Within a short time span, we were able to develop and deploy new features that will further automate Principal Trust's multi?custodian offering. We look forward to working closely with Principal Trust to help the firm grow and enhance its business."
About Innovest Systems
Innovest Systems, LLC is a financial technology firm that provides technology-driven solutions to trust and wealth management companies. Innovest's flagship product, InnoTrust, is designed to deliver a secure, integrated, real-time system offered in a Software as a Service (SaaS) environment. Innovest's technology is designed to meet the needs of the world's largest global financial services firms, as well as smaller independent trust and wealth management companies. Innovest is headquartered in New York City. For more information about Innovest Systems, visit www.innovestsystems.com.
About Principal Trust Company
Principal Trust Company is one of the largest non?depository trust companies in the nation. Chartered in 1899, Principal Trust provides trust service solutions to over 400,000 accounts with over $95 billion in assets under administration. Principal Trust Company is a proud member of the Principal Financial Group®, a global investment management leader including retirement services, insurance solutions and asset management. The Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principaltrust.com.
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Media: Fraylie Nord