News

ING Aetna Financial Service Consolidates Data with StatementOne...

NOVEMBER 27, 2001

LAWRENCEVILLE, NJ – StatementOne announced today that ING Aetna Financial Services (ING AFS) has signed an agreement through which StatementOne will provide them with data consolidation services for use in their critical applications as well as business planning and analytics. Collecting data on a daily basis through live feeds from a variety of clearing sources, custodians and legacy systems, StatementOne creates and normalizes a scalable, unified database. Utilizing StatementOne's new "data replication" service, the unified data structure is moved on premise. One of the initial uses is for the the data to be integrated into the ING Worksite organization, through an E-Z Data front-office application.

"The consolidation of data will help provide our producers with a total financial view of their clients. This is key to helping customers achieve their financial goals," said ING AFS' Christopher Eberly. He added "Our objective is to provide a comprehensive financial view with minimal cost and time commitment on the part of the producer. Today, producers often have to perform downloads from several different sites, just in order to obtain raw data. By having the consolidated data pushed directly into their front office application, producers will now be able to minimize the time spent gathering information and maximize the time spent analyzing customer information, enabling them to provide better and more timely advice."

"We're very excited to be working with ING AFS and their best-of-breed vendors in this venture, which will showcase the data management expertise that we've honed over the past several years. Through some fairly sophisticated, proprietary data-cleansing techniques, we'll be providing ING AFS with daily, deep-level customer transactional data. They'll use this data to craft strategies and to market products and services to their customer base," said Greg Pacholski, StatementOne's president and chief operating officer.

Adds Pacholski, "ING AFS is our first pure 'data replication' client, and it underscores both the value of the raw customer data and, more importantly, the added value we provide in our specialized collection and normalization process. StatementOne's consolidation solution provides a proven way in which financial institutions can help boost their top-line revenue, while at the same time reducing administrative costs. It's a win-win solution all around."

About ING Aetna Financial Services...

Hartford, CT-based ING Aetna Financial Services* is a part of ING Group and provides defined contribution programs to businesses and non-profit organizations throughout the United States. Based in the Netherlands, ING Group ranks 10th among the top 20 global financial institutions by market capitalization (source: ING Group, July 2000) and is an organization known for its financial strength, global business strategy and commitment to the markets it serves.

* Insurance products are issued by Aetna Life Insurance and Annuity Company; financial planning and securities are offered by Aetna Investment Services, LLC (member SIPC) and other broker/dealers with which it has a selling agreement.

About StatementOne...

StatementOne currently manages account data for over $65 billion (U.S.) in assets, representing more than 16,500 financial advisors and over 1,400,000 investors and 3,200,000 individual accounts. They provide a secure, Web-based, turnkey service which delivers securities account aggregation, consolidated statements and performance reporting to branch managers, registered representatives and their clients (investors). Utilizing direct data-feeds from custodians and clearing houses, it maintains data accuracy and relationships without the aid of the labor-intensive manual data-gathering or data entry often required with other portfolio management solutions.

For more information contact StatementOne at marketing@statementone.com.