3i Infotech Ticks Another Box For HSBC
London - 8 February 2010
HSBC selects Reporting to Clients for Client Money Manager
3i Infotech, a global provider of IT solutions, announces that it has signed a deal with HSBC Bank Plc (HSBC), to implement Reporting to Clients for its Cash Management and Payments division. Reporting to Clients will be used in conjunction with Client Money Manager (CMM), HSBC’s third party fund management system.
As part of HSBC’s strategic plans to expand its CMM offering, it is investing in the service, with one of the areas targeted for improvement being statements and reporting.
Reporting to Clients will significantly improve the efficiency of CMM’s reporting process, including the production of statements. The solution will also empower the business to create reports in a streamlined and consistent fashion greatly reducing lead-times and improving customer satisfaction when using the CMM system. Moreover, Reporting to Clients will enable HSBC to design, amend and customise bank statements without the historical dependence on the IT department.
Reporting to Clients is a formidable, workflow-enabled client reporting solution that provides complete automation of report production, distribution and electronic storage. The solution has been built in such a way that it can take in data from any source before processing it for distribution, and as such it caters for a myriad of reporting requirements.
Ian Hallam, Product Director, 3i Infotech – Western Europe, commented, “We are delighted to be working with HBSC’s Client Money Manager service to help deliver improvements to the production and presentation of its statements and other reports.
“To date Reporting to Clients has been predominantly used by investment managers so it is very pleasing to see the use of this application extended to commercial banking, which highlights the flexibility of the solution.”
3i Infotech is the UK market leader in asset management solutions, with two out of the top three private wealth managers using its software and services. Clients include Barclays Wealth, Rathbones, Jupiter and Coutts.