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Selection of best-in-breed reconciliation technology demonstrates
continued investment in an industry-leading fund administration
platform
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Enterprise solution will further enhance Maitland's Centre of
Excellence for financial control
BROOKFIELD, Wis.--(BUSINESS WIRE)--
Fiserv,
Inc. (NASDAQ: FISV), a leading global provider of financial services
technology solutions, announced today that international fund
administrator, Maitland,
has selected Accurate™ Reconciliation to improve efficiency and increase
the transparency and accuracy of its financial processing.
Accurate Reconciliation from Fiserv will allow Maitland to further
develop its Centre of Excellence for financial control by improving the
processing of cash, position and portfolio reconciliations across all of
its investment strategies. The enterprise solution will replace a number
of bespoke third party and in-house tools to make system administration
simpler through easier end-user configuration.
Maitland, a global provider of fund administration and
multi-jurisdictional legal, tax, fiduciary and investment advisory
services, identified Accurate Reconciliation as the best-in-breed
solution to serve its reconciliation needs. The strong after-sales
support network provided by Fiserv was a key factor in the selection
process. Additionally, the on-going commitment to the South African
market and client base was evident in the growing attendance at the
Fiserv "Risk and Compliance User Day" hosted in Johannesburg in November
2012, which provided Maitland employees with an opportunity to network
with other clients from the region.
"Maitland's investment in top-class technologies demonstrates our
commitment to excellence in administration, oversight and governance,"
said Veit Schuhen, Chief Operating Officer, Maitland. "This Fiserv
solution will help us provide a more scalable service that can deal with
the increasing volume and complexity that we are encountering as our
clients' investment universe and geographies expand. Also, the more
effective auto-matching and issue resolution capabilities will help
reduce operational risk for Maitland, our clients and their clients —
the investors."
"The integrity and speed of financial information is critical to an
institution like Maitland," said Eric Werab, portfolio director,
Financial Control Solutions, Risk and Compliance, Fiserv. "With Accurate
Reconciliation from Fiserv, Maitland will be able to provide a
streamlined solution that will allow for industry-leading delivery times
of reconciliations as well as enhanced reporting. These capabilities
align with Maitland's commitment to build on its world class fund
administration platform, ensuring the maximum return on investment for
its clients."
Accurate Reconciliation is part of the Risk and Compliance core
competency from Fiserv through which the company offers a unique breadth
of solutions to help clients optimize usage and return on capital by
making risk transparent and actionable within their organizations.
Solution sets in the Risk and Compliance core competency include
Financial Crime Risk Management, Financial Risk Management, Financial
Performance Management and Financial Control Solutions.
Additional Resources:
About Maitland
Maitland's fund services offering provides automated and integrated
front, middle and back-office administration services to institutional
and alternative fund managers. Fund managers trading a wide range of
asset classes contract with Maitland to reduce technology investment and
operational risk; access a platform for product construction and
innovation; and focus resources on portfolio management and client
service. Maitland has provided independent third party fund
administration services since 1998 and now serves more than 85 fund
management clients worldwide, representing over US$145 in assets under
administration.
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global technology provider
serving the financial services industry, driving innovation in payments,
processing services, risk and compliance, customer and channel
management, and business insights and optimization. For more
information, visit www.fiserv.com.
FISV-G
Media Relations:
Julie Nixon
Senior Public Relations
Manager
Fiserv, Inc.
+1 678-375-3744
julie.nixon@fiserv.com
or
Additional
Contact:
Wade Coleman
Director, Public Relations
Fiserv,
Inc.
+1 678-375-1210
wade.coleman@fiserv.com
Source: Fiserv, Inc.
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