The Bank of New York has selected Intelligent Environments Group (iE) to assist in the creation of its next generation European fund services technology platform.
BNY plans to upgrade its proprietary retail funds dealing and registration software Rufus, which currently runs on iE's proprietary AM software, to Microsoft's .NET technology.
Under the agreement, iE will be responsible for the development, implementation and operation of a new AM to .NET translator product. The translator will convert the Rufus system's proprietary code to a format that works within the open .NET framework, says the company.
Phillip Blundell, chief executive of iE, comments: "Microsoft's .NET brings real advantages to our customers and we will be using it for all our new products. We are seeing high levels of interest in the AM to .NET translator and will be offering the product to all our AM customers worldwide."