The Bank of New York announces a major technology initiative to further enhance its proprietary RUFUS Platform, which supports U.K. and European mutual fund administration services. The Bank has selected Visual Studio.NET (VS.NET) and the .Net Framework, Microsoft’s application development tool and platform for use with Microsoft.NET applications. These next generation tools will accelerate the Bank’s ability to deliver enhancements for the rapidly evolving European Funds marketplace.
Nick Parkes, MD, The Bank of New York, European Fund Services, said:
“The Bank of New York is a leading provider of UK and offshore fund administration services and currently provides multi-currency/multi-lingual European transfer agency services using its locations in Dublin and Luxembourg. VS.NET will enable us to more effectively deliver the range of complex and sophisticated enhancements that we are incorporating into RUFUS to set new standards of excellence in pan-European software and systems. “
Bill Hartnett, General Manager, Financial Services, Manufacturing & Retail Industries, Microsoft Corporation, added:
“We are delighted that BNY has chosen VS .NET to develop its next generation European technology platform for its Mutual Funds Servicing Business.
VS. NET’s tools will enable The Bank of New York to more speedily and efficiently develop and enhance its RUFUS platform and meet its strategic objectives in pan-European fund servicing.”