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.
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