See also:

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FundSERV and Fidelity: Working together to advance the investment fund industry

FundSERV appoints new CFO and VP corporate services

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FundSERV Network Performance

All articles

On May 11, FundSERV completed its fifth annual Customer Satisfaction Assessment. Some 1700 customer contacts were surveyed electronically and given an opportunity to win one of 10 IPod nanos for their participation. The IPods proved a popular incentive: participation was up 10 per cent over 2005 with 406 customers completing the role-specific, 10-minute survey.

For the third consecutive year, customers ranked reliability as the most important feature of FundSERV's network, followed by data integrity, security, speed, and ease of use. In terms of technical solutions and service, 89 per cent of respondents said they are satisfied with FundSERV's performance, and 92 per cent agreed that FundSERV is minimizing risk within the Canadian investment fund industry. Customers continue to agree that FundSERV is committed to excellence, has highly skilled personnel, responds effectively to customers' problems and is cost effective.

While satisfaction with Non-financial Updates (NFUs), the Code Registry, the Transaction Forwarding System (TFS) and the File Forwarding System (FFS) increased over 2005, the survey indicated that customers would like to see improvements to FUNDcom. Fortunately, their concerns will be addressed this November with the release of FUNDcom phase five standards. This release includes such new functionality as an RRSP contribution summary, RESP contribution and grant summaries and beneficiary and annuitant demographics for segregated fund accounts.

Customers also rated their satisfaction with FundSERV's communications vehicles in terms of providing information that was useful to them in their businesses. The FundSERV Quarterly showed a seven per cent improvement over last year with an 83 per cent satisfaction rating. Satisfaction with customer forums was unchanged from 2005 at 78 per cent. The website received a lower satisfaction rating, dropping to 76 per cent from 91 per cent last year. This drop in satisfaction is now under review and a plan will be developed to improve it next year. The Annual Report showed the greatest improvement with a 14 per cent increase over 2005 to a 69 per cent satisfaction rating.

"I would like to thank all of the people who took time out of their busy schedules to complete this survey," says Stuart Reynolds, vice president, customer relations. "The ten minutes you took to answer our questions added tremendous value to our planning process. Your responses will help everyone at FundSERV serve you even better."

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