Contact Information: Press Contacts: Kathleen Moran Information Builders (917) 339-6313 Karyn Martin Emerge PR (617) 729-3173
First Rate Makes Competitive Leap Offering Customers Innovative Business Intelligence Technology From Information Builders
New Portfolio Tracking and Reporting Solutions Deliver a Competitive Edge to Financial Services Companies -- and Its Investors
| Source: Information Builders
NEW YORK, NY--(Marketwire - September 15, 2008) - First Rate, a provider of investment portfolio
performance solutions for leading financial institutions, needed to process
a high volume of portfolios in a short period of time and keep customers
abreast of market changes via a self-service reporting environment. As an independent leader in both
operational business intelligence (BI) systems and
integration, Information Builders and its iWay Software division
were the perfect choice to provide the right technology solutions required.
First Rate can now offer interactive, online analysis capabilities so
customers can more easily track their investments. Simplifying critical
analysis and reporting tasks help First Rate reduce costs, build loyalty,
and retain its blue-chip customers.
Arlington, Texas-based First Rate has captured the portfolio analysis and
performance measurement business of more than 200 institutions worldwide,
including many of the largest financial institutions in the United States.
Eighteen of the top 100 U.S. domestic banks use its platform along with
more than 100 broker-dealers. These firms use First Rate's products to
capture minute details about the performance of thousands of portfolios and
deliver this information efficiently in a customized format to investors.
With the capabilities provided by WebFOCUS and iWay Software, reports are
automatically delivered to users in the form they have requested -- from
routine batch reports to boardroom-quality presentations.
While all financial service companies provide monthly account statements
and trade confirmations to its customers, First Rate helps these companies
go a step further by offering interactive performance-analysis solutions
that calculate rates of return and demonstrate the value of each client's
investments. Information Builders helps First Rate communicate this
important information with an end-to-end solution that includes back-end
data access, middle-tier analysis, and front-end reporting and
presentation.
"What makes our company unique is its business intelligence and information
delivery capabilities," said Terry Gaines, managing director of the
Products Group at First Rate. "We add significant value with our Web-based
reporting and drill-down capabilities, plus our ability to integrate our
application suite with almost any database or computing platform.
Information Builders technology makes these aspects of our solution
possible."
According to Mr. Gaines, iWay integration technology helps First Rate
process a high volume of portfolios in a short period of time -- currently
about 2.5 million portfolios per hour. "The scalability inherent in
Information Builders products is important due to our escalating volume of
data," he said. "iWay gives us the throughput we need to analyze returns in
more than one currency, offer calculations on a daily, monthly, or
point-to-point manner, and comply with the recommended calculation
practices of Global Investment Performance Standards (GIPS 2010).
Information Builders helps us meet our service-level agreements without
significant investments in hardware. Keeping costs down means we can offer
better services to clients."
"Investment advisors who can keep their customers abreast of market changes
in a clear, concise fashion stand out in this competitive market," said
Gerald Cohen, president and CEO of Information Builders. "First Rate is
using BI and integration technology to supply its customers with in-depth
analysis based on dynamic, up-to-date information. It's a winning formula
-- for financial services companies and the investors they serve."
About First Rate
First Rate is the developer and provider of portfolio analysis and
performance measurement software for many of the largest financial
institutions in the United States. Launched in 1991, the privately held,
Texas-based firm has a staff with extensive experience in the investment
performance-measurement industry. The First Rate Performance suite of
applications provides complete Web-based portfolio tracking and reporting
solutions specific to the needs and workflow of institutions with large
numbers of individual client portfolios.
About Information Builders
As a leading independent business intelligence (BI) company for the past 30
years, Information Builders has provided innovative solutions to more than
12,000 customers, including most of the Fortune 100 and numerous U.S.
federal government agencies. The company's flagship WebFOCUS product is the
world's most widely used BI platform. Superior architecture and intuitive
nature enables WebFOCUS to address the needs of everyone in the extended
global enterprise -- executive, analytical, operational, and beyond. It
provides the agility to adapt to changing business conditions with the
security, scalability, and flexibility to support dozens to millions of
users.
Unique to the company is the integration expertise it brings to the BI
market. Information Builders iWay Software suite solves complex integration
problems with pre-built components that require minimal custom programming.
The award-winning combination of WebFOCUS and iWay give Information
Builders customers the ability to embrace the company motto: "Everyone
Makes Decisions."
Information Builders is committed to customer service excellence with a
Professional Services division that specializes in building custom
applications using WebFOCUS and iWay Software. Headquartered in New York
City with 90 offices worldwide, the company employs 1,450 people and has
more than 350 business partners. Visit informationbuilders.com.