News

Cal Fed Licenses StatementOne's Consolidated Reporting Platform...

LAWRENCEVILLE, NJ, USA
JUNE 19, 2001

StatementOne, the industry leader in enterprise financial data consolidation and performance reporting, announced today that Cal Fed Investments, a subsidiary of California Federal Bank (Cal Fed) and a wholly-owned subsidiary of Golden State Bancorp (NYSE:GSB), has signed an agreement to integrate their proprietary data consolidation and performance reporting platform, StatementOne.com, into Cal Fed Investments' financial services product offerings.

Cal Fed has approximately $62 billion in assets and more than 350 branches in California and Nevada, and provides diversified financial services to consumers and businesses. StatementOne currently manages account data for nearly $53 billion (U.S.) in assets, representing more than 13,000 financial advisors and over 1,000,000 investors.

"StatementOne's consolidated performance reporting platform increases our registered representatives' knowledge of their clients' investment performance and productivity," said Ray Godbey, first vice president for Cal Fed Investments. "Having accurate daily financial data at their fingertips not only makes our advisors smarter, it frees them up to focus more time counseling their clients and selling."

StatementOne provides a secure, Web-based, turn-key service that delivers 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 service bureaus often required with other portfolio management solutions. Powered by a data processing system known as the Financial Data Network (FDN), StatementOne gathers, cleans and normalizes diverse transaction-level financial data directly from custodians and clearing houses, and makes it available for consolidated performance reporting, securely and in real-time.

Cal Fed Investments joins the growing number of financial institutions that are taking advantage of StatementOne's consolidation platform in order to achieve greater efficiencies, control costs and develop a greater understanding of their investors' purchasing behavior. StatementOne's Web-based platform provides a functionally robust system, without the high upfront and on-going overhead associated with licensing, installing and maintaining a mission-critical application themselves.

"Overall, we really liked the flexibility provided by the ASP (application service provider) model that StatementOne provides," adds Cal Fed Investments' Godbey. "Our decision to partner with StatementOne came down to the robustness, flexibility, quality of their platform, the short implementation timeline, and their strong commitment to advancing the industry through technology."

"We believe Cal Fed Investments is taking the right approach by accessing their investment management and information systems through an Internet application hosting service," said Greg Pacholski, StatementOne's chief technology officer. "They're joining a growing number of other financial institutions that are utilizing the same strategy to reduce risk, control IT costs and increase productivity, all while gaining valuable insight into the needs of their end customer, the investor."

About StatementOne...

StatementOne consolidates investment account information to power best-of-breed applications for institutions within the Financial Services industry. Using proprietary, state-of-the-art technology, StatementOne collects, cleanses and normalizes transaction-level data for use in data-mining, CRM, and Compliance applications.
The company's first-line product is a web platform called "StatementOne.com," a performance-optimized tool designed to give financial institutions, their financial advisors and their investor clients powerful consolidated statements and performance reporting.

Since first launching the service in October, 2000, StatementOne now provides consolidated statements and performance reporting for nearly $53 billion (U.S.) in assets, representing more than 1,000,000 investors. StatementOne's current clients include Long Grove Trading Company; Financial Services Corporation (a subsidiary of Sun America); and ING Advisors Network (a subsidiary of ING Group's U.S. Retail Financial Services division). Four of ING's independent B/Ds have launched the program. Those B/Ds include Locust Street Securities, Inc., Multi-Financial Securities Corp., IFG Network Securities, Inc. and VESTAX Securities Corp.

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