BISYS today announced that it has signed a multi-year, multiple services agreement with Prudential Financial Companies.
Under the terms of the agreement, BISYS will provide administrative support for Prudential's Alliance program and its more than 100,000 beneficiary account holders. As a result, Prudential's Alliance program should benefit from streamlined workloads in multiple departments, business process efficiencies, expanded customer services, and streamlined financial reporting.
Having served account holders for more than ten years, Prudential's Alliance program offers beneficiaries interest-bearing chequeing accounts, rather than lump sum or recurring distribution of benefits. Alliance customers, who have unrestricted access to their funds, earn competitive interest from the day benefits are paid until the day funds are withdrawn from their Alliance accounts.
Bill Neville, President of BISYS' Information Services group, reported, "BISYS continually strives to deliver the advanced technology and support companies need to proactively meet the market's changing demands. We anticipate strong growth of Prudential's Alliance program and look forward to helping this market-leading organisation retain its competitive position as well as achieve its profit and performance objectives."
Separately, BISYS, a leading provider of outsourcing solutions for the financial services sector, has named Daniel Manniello as Vice President of business development for its Fund Services division. Mr. Manniello brings more than 19 years of industry experience and expertise to BISYS.
George Evans, Executive Vice President of business development for BISYS Investment Services, said, "We are pleased to welcome Dan to BISYS. We are confident that his leadership role and business development experience will enable him to make significant contributions to our near and long-term growth goals."
Prior to joining BISYS, Mr. Manniello served as Vice President and relationship manager for The Bank of New York, where he was responsible for the coordination and delivery of all fund services to that bank's mutual fund client base.
Previously, he served as Vice President in the Global Investor Services group of JP Morgan Chase. Mr. Manniello is based in BISYS' New York office, which is located at 90 Park Avenue, New York, New York.