iE wins first client for the Bank of New York NetFinance hosted Retail Investment System

Intelligent Environments Europe Ltd - Tuesday, December 10, 2002

iE announces that following the recent contract to supply The Bank of New York with the new .NET version of iE's NetFinance Retail Investment System, BNY has commissioned iE to brand the system for its first customer.

Under the terms of the initial five-year implementation and support contract iE will benefit from a secure ongoing revenue stream, which will include a percentage share of all online transaction fees associated with the product's usage.

The NetFinance Retail Investment System, recently re-branded as NetFinance Insight, provides online fund dealing (including ISA applications), account servicing and management facilities for direct investors and IFAs. BNY is a leading provider of UK and offshore third party fund administration services. Its proprietary retail funds dealing and registration software, RUFUS, accounts for around 25% of the UK retail funds management market alone.

Phill Blundell chief executive of iE, said: "BNY's original endorsement of iE's software has been justified with this prestigious client. It also highlights the commercial benefits of offering web based servicing applications on a revenue sharing basis. By using the .NET platform we have developed a low maintenance, scalable solution that is also robust and future proof. This win vindicates our strategy of focusing on selling through partners.

Further information

Further information about iE's partner programme