DST Technologies, a provider of business process management solutions to the financial services and brokerage industries, and Miningham & Oellerich, Inc. (M&O), an enterprise data solutions provider for institutional broker-dealers, banks and insurance companies, today announced they have formed a strategic relationship for the purpose of jointly marketing their solutions to better serve clients in the broker-dealer industry.
Working collaboratively, DST Technologies and M&O will each deliver its own solution designed to help performance oriented broker-dealer organizations improve productivity, quality and unit cost management. In the initial collaborative implementation of their respective solutions, the client saw improvements in its processing time for new account transactions of 200 percent.
"We are pleased to work with M&O to bring innovative solutions to broker-dealers," said John Vaughn, vice president, DST Technologies. "This relationship will maximize the vast industry knowledge of both companies to help broker-dealers more efficiently manage client accounts."
DST Technologies' AWD solution is a comprehensive business process management solution used by broker-dealers to manage high volume processing, new account setup, account maintenance, document management and sophisticated work allocation. M&O's web-based solutions automate a number of manual processes for broker-dealers, while also integrating compliance, commissions, books and records and operational functions.
"I look forward to working with DST Technologies and broker-dealers to identify ways that AWD and our Serve Me! Suite can drive innovation," said Mike Brodeur, president, M&O. "In prior experience as a broker-dealer client of both DST Technologies and M&O, I have managed teams that have successfully implemented AWD in two U.S. broker-dealers. So, I have witnessed first-hand the business impact that AWD can have on field brokers and agents as well as in internal operations, including a new level of efficiency and improved positioning to attract new business opportunities. We will be working towards this type of effect for other broker-dealer clients with this new relationship."