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August 29, 2005

Bank of New York rolls out new Internet accounting technology

Bank of New York, a global leader in securities servicing and the oldest bank in the US, has enhanced the accounting and performance reporting capabilities of its Internet-based information delivery and transaction platform, INFORM.

By CBR Staff Writer

The new capabilities, which will be delivered through a new home page called INFORMCentral, will utilize innovative ‘push’ technology to provide institutional and corporate clients with fully customized financial reports and views directly to their desktops, providing immediate access to the data they require. The platform also offers graphic enhancements and new file transfer capabilities that enable the importing of custom reports.

INFORMCentral spotlights The Bank of New York’s goal to link the smart use of technology with client preferences to improve the efficiency and effectiveness of the organizations we serve, said executive vice president Patrick Curtin.

Accessed by more than 43,000 users representing 5,700 institutional and business clients, INFORM offers a range of financial information solutions, including asset servicing, collateral management and securities lending. Bank of New York said INFORMCentral would initially be introduced to its pension clients followed by a systematic roll-out to its entire client base.

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