Evare LLC, specialist in acquiring, transforming, and delivering cash balances and transactional data for financial institutions, announces the execution of an agreement with AON Corporation, a global Fortune 500 provider of insurance and risk management, human capital consulting, and insurance underwriting.
Evare is to provide connectivity between AON's Domestic Treasury Operation and the various financial institutions from which AON draws daily cash balances and transactional data. The data transformation services from Evare replace in-house dial-up services and scripts in a push to free AON resources for core business functions.
"AON has grown over the years by aggressive acquisition, taking care to preserve the processes and cultures of the firms it absorbs," explained Joel Broussard, Deputy Assistant Treasurer. "My colleagues in AON's International Operation adopted Evare initially to solve the major data transformation and balance reconciliation issues that arose with that kind of acquisition program. We've watched their resulting improvements in cost-effectiveness, productivity, and data quality and are pleased to implement Evare services now for our domestic operation as well."
"What AON needs is exactly what we do best," added Frederick Stanley, President and CEO of Evare. "Our mission is to open the global financial arena to corporations and securities firms by transparently automating all their communications, both upstream and downstream, to bring the dream of STP closer to reality. We are proud to assume connectivity responsibility for the cash balances and transactional data in the stateside AON operation as well in their international arena, leaving AON free of data transformation and delivery issues to concentrate on its core mission of managing risk in monetary and human capital for its clients around the world."