Lombard, IL (PRWEB) August 22, 2012
GROUPIRA, INC. has gone live with SunGard’s Relius Connect web services solution as an integral part of GROUPIRA’s individual retirement account (IRA) services. GROUPIRA leverages collective buying power to help reduce investor costs within IRAs. Using Relius Connect, GROUPIRA provides individual investors with the ability to seamlessly open new Traditional and Roth IRAs, or rollover former employer retirement accounts online.
GROUPIRA chose Relius Connect, integrated with both Relius Documents plan document generation and Relius Administration record keeping solutions, to help provide a faster and more efficient method for new account openings. Relius Connect uses Web services to facilitate the flow of plan and participant data between custom-developed client applications and the Relius Administration and/or Documents systems in order to automate processes such as entering transactions and setting up new plans. Using GROUPIRA, clients can originate an account using an online form and receive requisite notices and disclosures on IRA fees, rules, requirements, and penalties. Once account origination is complete, clients can instantly use the Relius mobile participant solution to access their accounts online.
Petros Koumantaros, co-founder and chairman of GROUPIRA, INC., said, “With Relius Connect, the time and manual effort associated with opening accounts has been reduced, and there is greater interest in GROUPIRA now that online account origination has been introduced. The integration with Relius Administration provides us with efficiencies and an online offering that gives us the flexibility to enhance or add new services in the future.”
Ken Simons, senior vice president for SunGard’s Relius solutions, said, “Efficient account opening is crucial in today’s retirement services environment. Relius Connect is helping innovative firms like GROUPIRA ensure streamlined service and operations, leverage recordkeeping information to build custom Web pages or applications, and enhance their ability to meet future client needs and business goals.”
About SunGard’s Relius
An integrated suite of solutions for retirement plan practitioners, Relius is used by third-party administrators, banks, insurance companies, CPAs, and corporations across the U.S. Relius Administration supports a variety of defined contribution and defined benefit plan types, with supporting systems that encompass creating illustrations for plan proposals, plan document generation, and government form filings. With Web-based sponsor, participant and advisor interfaces and process automation capabilities, Relius solutions help simplify administrative tasks, eliminate redundancy in processes, and cultivate staff expertise through a range of pension-related educational products and seminars.
SunGard is one of the world’s leading software and technology services companies. SunGard has more than 17,000 employees and serves approximately 25,000 customers in more than 70 countries. SunGard provides software and processing solutions for financial services, education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue of about $4.5 billion, SunGard is the largest privately held software and services company and is ranked 480 on the Fortune 500. Look for us wherever the mission is critical. For more information, please visit http://www.sungard.com.
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