Thomson Financial has sold its PORTIA and Oneva Trade EQ tools to BISYS Fund Services. PORTIA is a portfolio management system, while Oneva Trade EQ is an order management system integrated with it.
BISYS is also buying the Thomson Automated Import Manager (AIM) solution to improve integration with applications and workflows around PORTIA/EQ. AIM handles backdated transaction activity, cancellations and corrections. Its browser-based front-end provides a dashboard for the operations staff to manage exceptions.
The project is well under way and expected to go live in the third quarter of this year. “The addition of PORTIA/EQ and AIM enhances BISYS’s Wealth Management Solutions offerings and our ability to meet growing client needs in new and alternative investment vehicles,” says Kevin M. Keefe, senior vice president of BISYS Wealth Management Solutions. “Thomson Financial workflow solutions were chosen, following an extensive review process, for their proven flexibility in handling unique client requirements, their scalability to handle large account volumes, and ease-of-integration with BISYS’ operational workflow.”
“Thomson workflow solutions will empower BISYS to streamline workflow and create scalable offerings while increasing efficiency and reducing costs,” adds William Haney, senior vice president, Thomson Financial. “PORTIA/EQ is the investment industry’s leading workflow solution for the management of client portfolios, transaction processing, order management, performance generation and reporting. At the same time, it provides the flexibility to meet industry requirements and future needs. Thomson Financial is becoming a major provider to all areas of the wealth management arena, including front-, middle- and back-office. In addition to PORTIA/EQ, our solutions include industry leaders Thomson ONE Advisor, Beta and Vestmark.”