L&T Infotech FSTI Expands the Unitrax Platform to Support Electronic Processing via GICSERV
L&T Infotech Financial Services Technologies Inc. announces the expansion of its ability to support Guaranteed Investment Certificates (GIC) and Daily Interest Investment processing (DII); enhancements that support the interface between GICSERV's electronic standard files and Unitrax. L&T Infotech FSTI's Unitrax platform is the leading comprehensive and flexible investor recordkeeping and transfer agency system for investment fund and guaranteed products.
The decision to expand L&T Infotech FSTI's FundSERV compliant platform to support the industry leading GICSERV solution was a logical evolution of the company's offering to the marketplace. Unitrax has been supporting core features for GIC and DII transactions and administration processing since 1999, as such today's announcement was the natural progression of enhancements required to keep ahead of industry needs.
According to Mark Hubbard, Head of Financial Services Technologies, L&T Infotech FSTI, "We adopted this approach to ensure that our clients remain at the forefront of technology; remaining fully compliant with industry standards while allowing participation in the operational efficiencies that GICSERV provides. We consider this a natural extension of our Unitrax solution, which already supports GIC administration today."
Mark Feekery, head of the GICSERV initiative at FundSERV, says,"The GICSERV functionality will provide full transaction processing for nominee and client name platforms, multilateral net settlement and account position reconciliation. These efficiencies complement FundSERV's mission of reducing time, cost, and risk within the Canadian investment industry."