20 October 2017

FleetBoston rolls out InvestmentLink STP service

17 July 2002  |  2928 views  |  0 FleetBoston rolls out InvestmentLink STP service

FleetBoston Financial has begun the commercial roll-out of InvestmentLink, a trade order management application for institutional customers.

InvestmentLink is an online trade order delivery system for mutual funds and bank liabilities that allows FleetBoston commercial, government, industry and small business clients to access rates, view positions, and enter trades for straight-through processing.

FleetBoston developed the application in-house and subsequently partnered with Bonaire Software Solutions to supplement development and complete the application interface in order to meet an aggressive project timeline.

A pilot test was carried out in December, 2001, which resulted in a 300 per cent increase in participating accounts. Thirty-one per cent of all institutional mutual fund transactions are now executed by Fleet's pilot customers through InvestmentLink.

Doug Jacobs, treasurer of Fleet Boston, says: "We are seeing very tangible internal benefits from the straight-through processing InvestmentLink provides. The combination of customer adoption and operational benefits gave us a measurable return on investment the moment InvestmentLink was launched."

Future plans for the service include expanding the targeted client base through incorporating functionality such as safe keeping positions, transaction history, bond trading, automated monthly statements, e-mail confirmations and multi-currency capabilities.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.niceactimize.com

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15976 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9066 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8212 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7219 views comments | 9 tweets | 17 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
6761 views comments | 18 tweets | 25 linkedin

Featured job

Find your next job