The UK's Intelligent Environments Group (iE) has secured three contracts in the retail funds market, with a combined value of £1 million, through a relationship with Bank of New York.
BNY has initially licensed iE's software to provide Internet application and servicing capabilities for its retail funds clients. Rufus, BNY's retail funds administration system is used to administer over 20 per cent of the UK market. Utilising iE's NetFinance software, BNY's clients will be able to provide straight-through processing dealing and enquiry capabilities via the Internet to their investors.
The partnership with BNY has helped in securing 2 further client contracts says iE, with more expected in 2001.