Investors Bank Goes Live with IntraNet
IntraNet Worldwide has announced that Investors Bank & Trust Company (IBT) has implemented its iMTS FileAct solution. As the primary subsidiary of Investors Financial Services Corp., IBT provides a range of facilities to financial asset managers, such as global custody and multi-currency accounting, and services including mutual fund administration, securities lending, foreign exchange, and cash management. Due to rapidly increasing financial message volumes from several large clients – as much as 2,000 per cent since 2003 – IBT sought a way to deliver financial statements, specifically statements of holdings messages, while upholding service level agreements and ensuring timely delivery of those messages. Intranet said that the IBT was able to leverage the iMTS FileAct module to take full advantage of expanded messaging and reporting capabilities while FileAct’s connectivity and batching capabilities were able to complement IBT’s current SWIFTNet delivery mechanisms.