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Atlanta, Georgia Office

3930 East Jones Bridge Road
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Owings Mills, MD Office

25 Crossroads Drive, Suite 200
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Los Angeles Office

11150 Olympic Blvd, Suite 600
Los Angeles, CA
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The Hague, Holland Office

Loire 200-202
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London, UK Office

Baker's Hall 7 Harp Lane
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Singapore Office

30 Cecil St. #22-02/08 Prudential Tower
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Scottsdale, Arizona Office

7272 E. Indian School Road
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Jersey City, NJ Office

10 Exchange Place, 23rd Floor
Jersey City
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Brookfield, Wisconsin Head Office

255 Fiserv Drive
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Sydney, Australia Office

Level 14 124 Walker Street
North Sydney
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Luxembourg Office

4 Rue d'Arlon
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Uxbridge, UK Office

7 Roundwood Ave
Uxbridge
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Lake Mary, Florida, US Office

600 Colonial Center Pkwy
Lake Mary
FL
US

Telephone

617-217-2816

Contact

Melanie Cousins
[email protected]
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European Fund Administration selects Accurate Software to automate its cash and securities delivery management

Accurate Software's Operational Risk Management solution has been selected
by European Fund Administration SA (EFA), Europe's largest independent third-party fund administration service provider, to provide a single operational control framework for the straight-through processing of cash and securities transactions related to funds under management. The deployment of Accurate NXG at EFA's Luxembourg headquarters will streamline the handling of transfer agent payments.

The first phase of the Accurate NXG implementation, which brings together
Accurate's core competencies of reconciliation, exception management, workflow and business intelligence went live in August 2004 with a second phase being rolled out in October 2004. Accurate NXG will replace manual procedures and in-house systems at EFA to provide an automated control process.

At each stage in the process EFA needs to check that funds have been received on the appropriate account, and then issue payment instructions to move those funds to the next account in the chain.

"With Accurate NXG, we will be able to ensure that the movement of funds is
correct through each level of the payment cycle, tracking what is essentially a cascade of transfers, while validating the fund transfer instruction at every step of the process," said Françoise Dumont, CFO and CIO at European Fund Administration SA.

"Accurate's consultants have worked closely with us to ensure that crucial steps in the funds transfer process are supported."

EFA was looking for an experienced partner that could deliver the benefits of straight-through processing by automating what was previously a very time consuming process, within the constraints of the complex fund administration
process. Accurate's professional consultants worked with the EFA team to ensure that the exacting risk control requirements of the funds administration sector were met, customising Accurate NXG to enable 'four-eye' validation. Accurate NXG's ease-of-use and depth of functionality and flexibility were key to the successful implementation at EFA.

"Organisations such as EFA stand to make great efficiency gains as a result of the tighter control gained over its large volumes of transactional data," said Dirk Van de Velde, executive vice president for Continental Europe at Accurate Software. "At the same time our automated workflow solution provides an over-arching control process that links a series of checks and controls at EFA, helping minimise operational risk within its fund administration business."