TUCSON, ARIZONA â October 11, 2005 â dailyVest, the leading provider of real-time personal rate of return calculation and display technology for account access websites and investor statements, today announced that it's EnterpriseROR platform now supports the Open Financial Exchange (OFX) standard.
dailyVest, in conjunction with Intuit and Microsoft, successfully completed client acceptance testing of its OFX solution designed to ensure compatibility with 401k statement downloading into Intuit's Quicken* and Microsoft's Money* personal finance applications.
"Plan service providers are seeing increased demand for technology to allow participants to download their 401k data into popular financial planning and management software. The dailyVest solution melds this need with the need for meaningful personal rate of return analysis," said Pete McNellis, a senior official at dailyVest.
Evgeni Shevelev, a senior technical leader at dailyVest also noted, "OFX functionality is a natural and logical addition to our XML-based performance engine. Once a connection is made to the recordkeeping system, the same account data used to produce personal performance analytics can be used to produce OFX-formatted transaction and balance information. What's more, the OFX produced is derived from normalized data which simplifies acceptance testing for financial institutions."