New York, NY â February 15, 2005 â Integrated Decision Systems, Inc. (IDS) announced today that it has selected Evare, LLC to provide custodian interfaces for its new hosted portfolio management solution for Registered Investment Advisors: IDS On-Demandâ¢. IDS chose Evare for their proven track record of providing superior systems connectivity and information rationalization services to global financial institutions, combined with a high degree of specific business and marketplace knowledge.
"Evare is a key component to our multi-custody offering", said Lisa Williams, Director, Product Management, Global Investment ManagerÂ® at IDS. "They allow us to eliminate the paper and the manual data entry. Advisors can report on customer assets all in one place, no matter where the assets are custodied."
Evare provides links with global financial institutions for acquiring, transforming and delivering detailed, high-quality account and transaction information, critical for the daily reconciliation and portfolio management activities provided by the IDS On-Demandâ¢ service.
"We download the proprietary files directly from the custodians in whatever consistent electronic formats they prefer, normalize it for IDS and deliver it to their On-Demandâ¢ service center", said Andrew Rose, Senior Vice President of New Business Development at Evare. "IDS maintains one interface, Evare does the heavy lifting required to set up, operate and maintain all of the links on an ongoing basis."
"IDS chose Evare because of their breadth and depth developing and operating direct data transfer interfaces - they never âscreen-scrapeâ to collect data," said Williams. "This was important to us as we evaluated other vendors, who would copy and paste data with increased risk of error. Like us, Evare has very high standards. Together, we provide a service with clean, reliable data combined with the best portfolio management/performance measurement tools on the market, available from anywhere via the web. Liberated from the restraints of poor data, insufficient tools and local desktop applications, Advisors will be free to focus on client relationships and growth."
Evare has been certified by some of the worldâs leading banks, investment managers and broker dealers by passing each firmâs specific technology reviews, audits and penetration tests. Their SAS70 certified data centers will provide secure and reliable data collection services for IDS On-Demand clients.
"We are excited about our relationship with Evare", said Williams. "They are a company that does more than provide technology - they also share our vision of enabling better industry connectivity in the Separately Managed Account (SMA) market. Sponsor data should be more accessible to managers, no matter what portfolio accounting system is used on either end."