Pittsburgh, PA (PRWEB) January 22, 2007
Access Data Corp., the leading provider of enterprise reporting and data management services for the financial services industry, today announced that Fred Alger & Company (Alger) has selected Access Data SalesVision to monitor detailed trading activity in order to detect trading irregularities. Alger Funds will utilize SalesVision's online, on-demand 22c-2 full service offering, which includes use of multiple 22c-2 shareholder compliance rule sets; technical and operational data stewardship for account and transaction shareholder data; and Access Data ExchangeSM (AccessDXSM), to provide Alger with connectivity to financial intermediary platforms and the DTCC SDR interface. Alger's 22c-2 data will be housed within Access Data's highly secure, state-of-the-science Technology Data Center.
"With Access Data's 22c-2 compliance solution, we get a complete 22c-2 offering from a proven provider. We were impressed with Access Data's foresight in developing its offering well ahead of the compliance deadline of October 16 of this year," said Joe Brady, Vice President at Alger Funds. "Our decision to go with Access Data was also influenced by their experience processing third party financial intermediary data. We liked the flexibility that Access Data Exchange offered us to either bring data in directly from our financial intermediary platforms, or through the DTCC Standard Data Reporting interface," added Mr. Brady.
Financial services firms such as Alger have turned to SalesVision for 22c-2 compliance because of its leading edge technology, flexible architecture and full service approach. "We are excited to add Fred Alger & Company to the growing list of mutual fund companies signing on with Access Data to meet the requirements of SEC Rule 22c-2," said Chip Miller, Executive Vice President for Access Data. "Mid-sized firms like Alger value the combination of Access Data Exchange for the acquisition of financial intermediary data, as well as the powerful analysis capabilities of SalesVision to analyze detailed shareholder trading activities," added Mr. Miller.
Access Data SalesVision provides a comprehensive storage, analysis, and reporting solution for regulatory, financial and administrative management personnel. The SalesVision suite of business applications includes Shareholder Compliance (22c-2), Sales Reporting, Compensation Tracking for internal wholesalers and external distributors, CRM Data Integration and Business Intelligence tools. Today, SalesVision is used to protect, control and grow the businesses of leading mutual fund companies representing over $1.5 trillion in assets under management.
Access Data offers leading financial services firms a proprietary shareholder transaction data exchange network, Access Data Exchange (AccessDX), to provide straight through processing of detailed shareholder data among mutual fund companies and financial intermediaries. Utilizing Access Data's proven process for rapid data interface development, combined with proprietary data workflow technology, AccessDX connects a broad network of intermediary sub-account platforms to its SalesVision suite of applications.
About Access Data Corp.
Access Data Corp. is the leading provider of enterprise reporting and data management services for the financial services industry. Access Data SalesVision® is a web-delivered, on-demand application which solves the omnibus sub-account transparency issue for mutual fund companies, allowing them to protect, control and grow their businesses. Access Data ExchangeSM provides straight-through processing of mutual fund sub-account transaction data to help mutual fund companies and financial intermediaries meet SEC Rule 22c-2 requirements. Access Data Professional Services has enabled the world's leading financial services companies to re-engineer business processes, launch new technologies, and create powerful management tools more efficiently, delivering increased profits, reduced costs and strengthened customer relationships. Access Managed Services manages software, hardware and networks in its secure data center to host client applications, reduce costs and provide back-up and recovery services. To learn more, visit http://www.accessdc.com or call 1-888-799-1744.
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