DST International & AM Corporation Combine To Launch Australias First Total Wrap Retail Funds Management Platform
Announcement posted by DST International 03 Oct 2001
New Internet-based Wrap retail solution to cater for general asset management and customised corporate and personal superannuation choice
Australias leader in investment technology solutions, DST International (DSTi) and AM Corporation today announced a multi-million dollar collaboration to develop Australias first single Wrap retail funds management platform. With the impending unified Wrap retail solution, fund managers will provide financial advisors with the ability to monitor and participate in the management of their clients funds over the Internet. This new solution targets retail fund managers, fund of funds and retail Wrap providers as well as financial planning groups and will offer standard managed asset services, together with the strategic self-administration of corporate and personal superannuation.
The Wrap retail platform initiative combines DSTis deep understanding of portfolio management software and commitment to browser based Internet technology, with AM Corporations superannuation system and history of innovation and success in Australian financial services offerings.
DSTi believes that this new offering will ensure that the financial services market in Australia will face a different and improved future.
DSTi has been building its expertise and offerings in the retail funds management sector in Australia for some time now. With the introduction of business solutions for both the front and back office, the company will reinforce its market position as the only total solutions provider for the financial services sector, outlined Mr Ian Mathieson, Managing Director, DST International.
We believe that the combination of individual components from DSTi including HiTrust, HiContact and HiInvest together with the capabilities, such as Superannuation, found in AM Corporations current software offerings will produce a platform that is at least three years ahead of any competitive products, he continued.
With a reputation as first to market, AM Corporation will be Australias first implementer of the new Wrap retail platform and are scheduled to be live and fully operational on the technology by Q3 2002.
Mr Alan Rich, Managing Director of AM Corporation commented, The financial services market in Australia to date has been filled with a range of fragmented applications. With the integration of these advanced technologies, it will enable advisor clients for the first time to execute Straight Through requests for total financial management of assets including unit trust and Wrap products, shares, direct investments, managed accounts, fund of funds and corporate and personal superannuation.
We are committed to continuing to provide our client base with another first and maintain our leadership role in providing innovative online financial services products, said Rich.
The new Wrap retail platform from DSTi also marks a momentous development for the business solution provider. With the introduction of a full Wrap retail platform, the company will further extend its revenue stream based on the multi billion dollar retail investment market and continue to outperform the broader marketplace.
Both DSTi and AM Corporation have formed a strategic development team to produce an aggressive rollout of the retail platform. Over the next six months the platform will be developed for full commercial deployment in 2002.
Ends
Through local offices in Sydney, Melbourne and Wellington, DST employs almost 200 staff in its sales, development, client services and support divisions. Responsible for hosting the global development centre for the companys flagship product, HiPortfolio/2 and HiTrust, DST International solutions can be found in around 100 client sites in Australia and New Zealand.
Current Australasian clients include AMP, ANZ, Commonwealth Bank of Australia, Credit Suisse, ING, JB Were, JP Morgan, Macquarie Bank, Merrill Lynch, National Australia Bank, NRMA, Royal Bank of Canada, Royal & SunAlliance, State Street, Suncorp Metway, Tower Life, Vanguard and Zurich.
Super and investment specialist AM Corporation has $3.5 billion under management for over 150,000 Australians. AM Corporation has 300 employees. During its 25 years of operation it has produced many innovations including the first retail master fund and first allocated pension. AM Corporation is independently owned.
The Wrap retail platform initiative combines DSTis deep understanding of portfolio management software and commitment to browser based Internet technology, with AM Corporations superannuation system and history of innovation and success in Australian financial services offerings.
DSTi believes that this new offering will ensure that the financial services market in Australia will face a different and improved future.
DSTi has been building its expertise and offerings in the retail funds management sector in Australia for some time now. With the introduction of business solutions for both the front and back office, the company will reinforce its market position as the only total solutions provider for the financial services sector, outlined Mr Ian Mathieson, Managing Director, DST International.
We believe that the combination of individual components from DSTi including HiTrust, HiContact and HiInvest together with the capabilities, such as Superannuation, found in AM Corporations current software offerings will produce a platform that is at least three years ahead of any competitive products, he continued.
With a reputation as first to market, AM Corporation will be Australias first implementer of the new Wrap retail platform and are scheduled to be live and fully operational on the technology by Q3 2002.
Mr Alan Rich, Managing Director of AM Corporation commented, The financial services market in Australia to date has been filled with a range of fragmented applications. With the integration of these advanced technologies, it will enable advisor clients for the first time to execute Straight Through requests for total financial management of assets including unit trust and Wrap products, shares, direct investments, managed accounts, fund of funds and corporate and personal superannuation.
We are committed to continuing to provide our client base with another first and maintain our leadership role in providing innovative online financial services products, said Rich.
The new Wrap retail platform from DSTi also marks a momentous development for the business solution provider. With the introduction of a full Wrap retail platform, the company will further extend its revenue stream based on the multi billion dollar retail investment market and continue to outperform the broader marketplace.
Both DSTi and AM Corporation have formed a strategic development team to produce an aggressive rollout of the retail platform. Over the next six months the platform will be developed for full commercial deployment in 2002.
Ends
Through local offices in Sydney, Melbourne and Wellington, DST employs almost 200 staff in its sales, development, client services and support divisions. Responsible for hosting the global development centre for the companys flagship product, HiPortfolio/2 and HiTrust, DST International solutions can be found in around 100 client sites in Australia and New Zealand.
Current Australasian clients include AMP, ANZ, Commonwealth Bank of Australia, Credit Suisse, ING, JB Were, JP Morgan, Macquarie Bank, Merrill Lynch, National Australia Bank, NRMA, Royal Bank of Canada, Royal & SunAlliance, State Street, Suncorp Metway, Tower Life, Vanguard and Zurich.
Super and investment specialist AM Corporation has $3.5 billion under management for over 150,000 Australians. AM Corporation has 300 employees. During its 25 years of operation it has produced many innovations including the first retail master fund and first allocated pension. AM Corporation is independently owned.