Welcome!

Machine Learning Authors: Yeshim Deniz, Liz McMillan, Zakia Bouachraoui, Pat Romanski, Elizabeth White

News Feed Item

Fi-Tek's TrustPortal Rated 'Best-in-Class' Core Accounting Platform for Trust and Private Banks

EDISON, N.J., Oct. 21, 2013 /PRNewswire/ -- Fi-Tek announced today that in a recently conducted CEB TowerGroup analyst study of major accounting platforms servicing the Trust and Private banking segment, its premier wealth management solution - TrustPortal - has received the highest rating of "Best-in-Class" for its critical Core Accounting functionality. The core accounting and operations functions are at the heart of any wealth management operation and can provide significant cost and operations efficiency.

Published in March 2013, CEB TowerGroup technology analysis process centered on vendors with mature products, globally recognized innovation, and multiple installations with a range of financial services institutions. The extensive study combined qualitative and quantitative data conducted from interviews with industry experts and financial institutions who were users of the systems and vendors, through which CEB TowerGroup identified 21 attributes that defined a "Best-in-Class" accounting system.

"Banks are looking at the wealth management business as a growth vehicle, and are revisiting their core accounting systems to ensure modern functionality and extensive risk controls," said CEB TowerGroup Senior Director Peter Delano.

TrustPortal's highly configurable user interface, customer reporting options, and broad compliance capabilities are noted product highlights which provided a "Best-in-Class" rating in Core Accounting by the CEB TowerGroup analyst:

  • Business Reporting: Through TrustPortal's ad-hoc query module, Quick Search, users can run queries and create their own real-time reports. The system also has over 150 canned reports.

  • Transaction Processing: TrustPortal offers real-time order processing and modeling, an integrated accounting engine, and investment management capabilities.

  • Compliance Management: TrustPortal features configurable dashboard alerts, 250+ standard reports, Quick Search capabilities, and a time-stamped audit trail.

Fi-Tek's TrustPortal is a fully integrated wealth management solution on a single, web-based platform ideally suited for Asset Management companies, Private Banks, Trust Banks, Family Offices, RIAs, Broker-Dealers and other financial institutions. TrustPortal provides end to end Front, Middle and Back-office functionality streamlining business processes in Accounting, Securities Processing, Financial Planning, Portfolio Management, Regulatory & Compliance Review, Tax Reporting and Client Reporting & Statements.

"TrustPortal is a flexible securities processing and accounting platform which provides cutting edge technology with broad functionality, and it helps our clients run their business most effectively," said Subir Chatterjee, CEO & President of Fi-Tek, LLC. "We recognize that our clients' business needs are changing – so we are building the system which will help our clients meet tomorrow's challenges."

TrustPortal's newer capabilities include global securities processing and multicurrency accounting, SWIFT interface for real time custody integration, data aggregation, and a robust business intelligence tool to provide senior managers the ability to analyze data to better manage their business.

About Fi-Tek
Fi-Tek provides innovative software products and solutions to financial service providers and their clients, specializing in trust, asset servicing, securities processing and alternative investment industries. Visit us at www.fi-tek.com.

For more information, please contact Brian Epstein at (419) 290-3096.

Technology Assessment Disclaimer

CEB does not endorse any vendor, product or service depicted in our CEB TowerGroup publications and does not advise technology users to select only those vendors rated "best in class." CEB TowerGroup research publications consist of the opinions of CEB TowerGroup's analysts and should not be construed as statements of fact. CEB disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

 

SOURCE Fi-Tek LLC

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

CloudEXPO Stories
DXWorldEXPO | CloudEXPO are the world's most influential, independent events where Cloud Computing was coined and where technology buyers and vendors meet to experience and discuss the big picture of Digital Transformation and all of the strategies, tactics, and tools they need to realize their goals. Sponsors of DXWorldEXPO | CloudEXPO benefit from unmatched branding, profile building and lead generation opportunities.
Enterprise architects are increasingly adopting multi-cloud strategies as they seek to utilize existing data center assets, leverage the advantages of cloud computing and avoid cloud vendor lock-in. This requires a globally aware traffic management strategy that can monitor infrastructure health across data centers and end-user experience globally, while responding to control changes and system specification at the speed of today’s DevOps teams. In his session at 20th Cloud Expo, Josh Gray, Chief Architect at Cedexis, covered strategies for orchestrating global traffic achieving the highest-quality end-user experience while spanning multiple clouds and data centers and reacting at the velocity of modern development teams.
Disruption, Innovation, Artificial Intelligence and Machine Learning, Leadership and Management hear these words all day every day... lofty goals but how do we make it real? Add to that, that simply put, people don't like change. But what if we could implement and utilize these enterprise tools in a fast and "Non-Disruptive" way, enabling us to glean insights about our business, identify and reduce exposure, risk and liability, and secure business continuity?
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-centric compute for the most data-intensive applications. Hyperconverged systems already in place can be revitalized with vendor-agnostic, PCIe-deployed, disaggregated approach to composable, maximizing the value of previous investments.
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.