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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
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Brookfield, Wisconsin Head Office

255 Fiserv Drive
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Level 14 124 Walker Street
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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]
Back to all Fiserv announcements

Fiserv Partners with Financial Market Data Services to Bring New Solution to Broker-Dealers and Asset Managers

Partnership provides fully outsourced, end-to-end securities class actions claims processing to Fiserv clients

Fiserv, Inc. (NASDAQ: FISV) a leading global provider of financial services technology solutions, today announced a partnership with Financial Market Data Services (FMDS) to offer broker-dealers, asset managers, turnkey asset management providers and outsourcers a fully-outsourced, end-to-end securities class actions claims processing solution. The solution focuses on managed accounts, a high growth segment, and can easily be extended to support all class actions claims for a firm, bringing efficiencies to what can be an inefficient, fragmented and manual process.

Securities class action filings, typically processed within the corporate actions areas of broker-dealer and asset management firms, can be highly complex and time-consuming. The steps necessary to fully comply with the fiduciary requirements are often manual, which can introduce errors. While many asset managers rely on custodians to process filings for their mutual funds, managing filings for separately managed accounts (SMAs) can still be difficult. Broker-dealers are also challenged by requirements to notify investors of new claims within a short time frame. For all firms, inefficiencies in filings can result in missed opportunities to bring recoverable assets back into investor accounts.

"This new capability has the potential to provide Fiserv clients with an effective way to increase their assets under management and provide additional value to their clients," said Cheryl Nash, president, Investment Services, Fiserv. "Fiserv is the leader in wealth management technology and we are committed to bringing the industry best-in-class solutions, whether built internally or through strategic partnerships."

"By offering an end-to-end solution, from investor notifications through to funds distribution, FDMS and Fiserv will enable investors to claim their own funds through a truly automated process," said John Regan, president, Financial Market Data Services. "Fiserv continues to strengthen its leadership within the managed accounts industry, and we are pleased to be its partner."

Fiserv has more than 4 million accounts on its wealth management platforms and over 1.3 million UMA sleeves. With the acquisitions of AdviceAmerica financial planning technology and CashEdge data aggregation capabilities, Fiserv has extended its leadership position with technology that can support all functions of a wealth management business with a truly integrated, end-to-end solution.