Top US brokerage Morgan Stanley Dean Witter is utilising Profile/Anyware, and e-Profile account processing from Sanchez Computer Associates to develop a new range of banking services for its investment customers.
MSDW's financial advisors are using the system to service the credit, loan and investment requirements of small and middle market businesses in the US while outsourcing account processing and bank back-office functions such as billing, statement production and other fulfillment activities. The Sanchez e-Profile solution is deployed over MSDW's intranet where the company's financial advisors can open accounts, conduct transactions and service customers. MSDW recently began the rollout of this new service to its network of more than 12,450 financial advisors.
The solution required more than 30 electronic interfaces and included integrating with existing MSDW systems, new applications and technology interfaces such ATM and card systems.
"Sanchez and e-Profile provide the enabling technology and infrastructure necessary for non-bank financial institutions, such as MSDW, to gain competitive advantages. This solution is an example of how a non-bank can utilise the expertise of its extensive broker network and combine it with the speed and convenience of electronic commerce to deliver new products and services to their customers," says Frank Sanchez, CEO of the eponymous firm.