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Follow on Google News | ETFengine's scalable high-volume testing demonstrates a revolutionary solution for digital adviceIndustry veterans use new technology to push legacy custodial brokerage system and other investor record-keeping dinosaurs to extinction.
By: ETFengine The significance of this milestone is explained by ETFengine Co-Founder, Ken Arthur. "ETFengine provides a new processing solution for the traditional pinch point and cost element of processing high volume corporate actions such as dividend transactions that have plagued brokerage systems. Not only does this scalable architecture address corporate actions but most legacy batch services, including rebalancing portfolios, aggregation of trades for order placement, creation of statements, tax forms and virtually all the heavy lifting functions expected from a custodial platform provider". ETFengine's working architecture can be used by trust companies, brokerage firms, transfer agency systems, 401k and retirement plan recordkeeping systems who will be forced to re-write their legacy customer systems to take advantage of cloud service opportunities. ETFengine intends to license this fundamental architectural framework to any financial institution that starts the journey. ETFengine Co-Founder and CTO Scott Eckenrode adds: "The primary target for this architecture is our solution for digital wealth management products. The tech providers for the 'Robo' products have made great progress in reducing investor costs using new front-end web self-service/ While ETFengine is a complete digital advice investor recordkeeping solution that integrates everything from model management, account set-up, rebalancing, compliance and tax reporting, it also features many options for users to use their own software. With the ability to integrate with the ETFengine system via APIs at many levels, users can "mix and match" functionality to meet their interests and needs most effectively. Customizing ETFengine to manage all accounts in one place results in substantial operating cost advantages, revenue opportunities and a streamlined client service process. Using new technology and building on over 30 years of investor recordkeeping success, the ETFengine team is developing an extremely cost and volume-effective technology solution that reduces complexity, eliminates data redundancy and streamlines online financial advice offerings. To request the upcoming white paper that will include preliminary trade processing times, please contact ETFengine. For more information, please visit www.etfengine.com. End
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