|
OppenheimerFunds Selects Envision Financial Systems to Provide Shareholder Accounting for 529 Plans and Institutional Money Market Fund Business
Envision’s PowerAgent transfer agency system helps provide flexibility for plan and fund shareholders
IRVINE, CA. September 26, 2006 — Envision Financial Systems, the award-winning software company for the financial industry, today announced that OppenheimerFunds has selected the PowerAgent transfer agency system to help service its 529 plans and Institutional Money Market business. The move to the new system will help give OppenheimerFunds greater flexibility in servicing these products in these competitive markets.
Envision was selected after a comprehensive review of technologies and services available in the market. OppenheimerFunds was looking for a product that would help it achieve quality and efficiency improvement objectives.
“Right from the beginning it was obvious to us that OppenheimerFunds was looking for creative solutions that would open doors of opportunity and help make them more efficient” says Brian Jones, Senior Vice President of Strategic Planning and Business Development at Envision. “After taking the time to understand their needs, we were able to offer flexible solutions that will help enable them to maximize business processes both today and well into the future. We are honored to be a valued partner of OppenheimerFunds and look forward to a long and mutually beneficial relationship.”
“Through our discussions with Envision, it was clear that they understood our business and technology issues,” says Susan Cornwell, Senior Vice President for OppenheimerFunds. “Their team has been exceptional to work with, and have really gone the extra mile to ensure that all our concerns were addressed. The new PowerAgent system will give us greater flexibility and allow us to operate more efficiently. We are very pleased with our decision and hope to grow these important lines of business with Envision.”
Envision’s PowerAgent platform was recently enhanced to incorporate 529 plan capabilities as part of a strategic plan to enter growth markets. Institutional Money Market functionality along with several other product capabilities has been core to the PowerAgent system for many years.
Envision’s PowerAgent system combines full features, robust scalability and flexibility for fund companies. Built using the latest in open standards and best-of-breed technology, PowerAgent has helped fund companies around the world, reduce costs and improve shareholder satisfaction.
About Envision Financial Systems
Founded in 1994, Envision Financial Systems, Inc. is a leading provider of software solutions to the institutional and mutual fund asset management markets. Using an in-depth knowledge of the financial services industry and extensive experience in software development, they create leading-edge global systems that are intuitive, scalable, and flexible. Their systems are based upon open standards, helping their clients compete in the ever-changing global environment. Envision’s headquarters are in Tustin, California, with offices in Owings Mills, Maryland and Bangalore, India. For more information visit www.enfs.com.
About OppenheimerFunds
OppenheimerFunds, Inc. is one of the nation's largest and most respected investment management companies. At June 30, 2006 , OppenheimerFunds, Inc., including subsidiaries and controlled affiliates, managed more than $215 billion in assets, including mutual funds having more than 6 million shareholder accounts.
The products and services of OppenheimerFunds, Inc. and its controlled affiliates include: mutual funds, hedge funds of funds, qualified retirement plans for individuals and corporations, investment management for institutions and sub-advisory services. OppenheimerFunds is widely recognized as a leader in educating and empowering investors and for its award-winning customer service.
OppenheimerFunds, Inc. is a member of the MassMutual Financial Group and is not affiliated with Oppenheimer & Co, Inc. or Oppenheimer Capital. # # #
Company Contacts: Edward Yang, Envision at (714) 247-0030 ext. 124, edward.yang@enfs.com
|
