Fi-Tek, a wealth management applications provider for the financial services industry, and the Northern Trust Company have announced the release of TrustPortal, a fully integrated, straight-through application for trust management.
Incorporating investment management, trust administration and comprehensive taxlot trust accounting features into one platform based on .NET architecture, TrustPortal 1.0 is expected to provide clients with accurate and instantaneous flow of data between accounting and investment management, reducing reconciliation and errors, and allowing clients to respond proactively and immediately to changing market conditions.
The TrustPortal is expected to provide a suite of products, including investment management with electronic trade execution, compliance, administration, accounting, operations, automated account review, extensive web-based report engines, and with a host of third party interfaces including complete custody reconciliation.
TrustPortal 1.0 is expected to manage data between trading, investment management and accounting automatically, and accurately reflects true position and cash balances at any point in time. TrustPortal manages and automates these processes through the full life cycle of the transaction, significantly improving productivity and reducing errors. Built upon a highly scalable platform, TrustPortal can scale from a few hundred to tens of thousands of accounts.
Fi-Tek has also announced the general availability of TrustPortal ASP, with software as a service model for clients, including complete hosting, business continuity, backup, monitoring, and disaster recovery services for the TrustPortal through secured SAS70 datacenters of the largest service providers in the country.