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FundSERV Network Performance

By Michael Critchley

Fund distributor head office personnel who rely on FundSERV Web Services to access the Legacy Inquiry Telnet (Green Screens) application to view their clients' account holdings at various fund companies will no longer have this option starting November 20, 2009. FundSERV is decommissioning the Green Screens to promote more usage of FUNDcom, a highly secured, Web-based inquiry system that provides standardized messaging and screens.

FundSERV currently supports both inquiry systems for a distributor to obtain investor account and transaction data from participating fund companies. However, as the security infrastructure that safeguards FundSERV applications and network services has evolved to best of breed technology and adheres to widely accepted best practices, the Legacy Inquiry system has failed to keep pace and remains inherently insecure. Furthermore, because Green Screens do not display information in a standardized format, it can often become confusing to the user trying to make sense of information the fund company is transmitting.

FUNDcom, on the other hand, offers the same inquiry service as the Green Screens but on a much more secure level, and in a standardized format. Some of the more notable features include access to client balances and transaction details, adjusted cost base information, a redemption calculator, the 10 percent free-of-charge redemption total a fund company may offer, and client demographics.

However, one of the standout features is that distributors can visit all participating fund company information through a single username and password — it's a one-stop shop. As it stands now, distributor head office personnel currently relying on the Green Screens for their inquiries are required to use a separate username and password for every fund company they want to access information from, which can become very onerous to maintain.

For fund companies looking for branding opportunities, FUNDcom also offers Webpage space, where fund companies can post their logo or other marketing materials, which in turn can be linked to their respective Website.

FundSERV is currently working on additional enhancements to FUNDcom, which, once it goes live on November 20, will provide distributors with virtually the same inquiry functionality they have been used to with the Green Screens, but without the worry of their clients' confidential information being compromised.

Since FUNDcom is a free service offered to all FundSERV customers, FundSERV is encouraging more distributors and fund companies to utilize the service. After all, it is a convenient, efficient and reliable way of sharing information in a secure and standardized fashion. What more can you ask for?

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