News

StatementOne Announces Strategic Partnership with Fugent...

LAWRENCEVILLE, NJ, USA
JUNE 14, 2001

With the increasing demand for reduced costs and improved efficiency in the financial services industry, StatementOne and Fugent have formed a strategic partnership to benefit their clients in the financial services arena.

StatementOne consolidates investment account information to power best-of-breed applications for financial services companies. Their Financial Data Network (FDN) technology collects, cleanses and normalizes transaction-level data for use in data-mining, CRM and compliance applications. This technology enables financial institutions, registered representatives and their investor clients to access powerful consolidated statements and performance reporting online, from virtually anywhere in the world.

The Fugent solution improves the financial product distribution process by streamlining and enhancing marketing, sales, communication and client management efforts. Fugent's technology platform improves productivity and reduces distribution costs while expanding customer reach – leading to increased assets under management.

This partnership is ideal in that it will allow broker/dealers participating in the Fugent platform to have the option of accessing StatementOne's online consolidated statements and performance reporting, while registered representatives utilizing the StatementOne platform will have the option of accessing Fugent's platform of applications, value-added tools and services, including its client relationship management system. Both StatementOne and Fugent will be able to leverage their respective relationships and access financial services companies and registered representatives to provide a better overall solution to their customers.

According to Greg Pacholski, StatementOne's chief technology officer, "Partnering with Fugent is a natural extension of our desire to provide data consolidation and management solutions to financial services companies. This relationship enables us to leverage our respective expertise in order to provide an unprecedented level of service to our clients."

"The StatementOne platform complements our current offering and we're very excited about this strategic alliance," said John Detwiler, chief executive officer of Fugent. "Initially, we will leverage resources between our two organizations with an eventual goal of providing a fully integrated solution of the two platforms," adds Detwiler. "Improving the way financial services companies and registered representatives do business with one another is our main objective. If we can help the financial services companies reduce costs while increasing distribution and empowering the registered reps to grow their businesses, then we will have succeeded."

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 over $50 billion (U.S.) in assets, representing more than 800,000 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.

About Fugent...

Fugent, Inc., is a leading provider of client relationship management software and tools for the financial services industry. Fugent solutions help improve the process by which financial services companies reach their customers through what is essentially a fragmented network of registered representatives. By streamlining the marketing, sales, distribution and communication process for all parties, we enable them to improve productivity, reduce distribution costs, and enhance the quality, accuracy and timeliness of the information that reaches the retail investor. Fugent, Inc., is headquartered in Rye, New York and maintains offices in Columbus, Ohio.

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