SS&C Technologies, a subsidiary of SS&C Technologies Holdings (Nasdaq:SSNC), has signed a reseller agreement with Open Solutions to resell PortPro, SS&C's portfolio bond accounting, reporting and analytics software, to their Financial Accounting Suite (FAS) bank and credit union clients.
Through the agreement, Open Solutions FAS clients can leverage the PortPro product to address the accounting, record keeping and regulatory reporting functions for their fixed income portfolios, allowing financial institutions to effectively analyze and manage their portfolios. PortPro offers financial institutions numerous benefits including: the ability to review updated position data before scheduled close-outs, flexible reporting that can be customized with management summaries or detailed reports, and the ability to perform portfolio analysis from anywhere via the Internet.
"Adding SS&C's PortPro investment portfolio accounting and reporting solution is a great addition to the Open Solutions' financial product line. Their Software as a Service (SAAS) model, providing a Web-based strong investment accounting application, allows our clients to obtain the product benefits without the hassles of purchasing hardware and software to run an application. Handling the regulatory requirements of investments and accurate reporting is important to our clients," said Eric Anderson, Vice President, Strategic Alliances for Open Solutions Inc.
"We are delighted to offer SS&C's PortPro investment management solution to Open Solutions' clients," said Colleen Nelsen, Senior Vice President, Financial Institutions, and General Manager, SS&C Technologies Holdings, Inc. "We believe the combination of SS&C and Open Solutions will accelerate the delivery of high quality, independent, affordable bond accounting solutions for banks and credit unions."