Mellon European Fund Services, the fund administration arm of Mellon Financial Corporation in Europe, has chosen The Oceanus Group to provide what the supplier calls (to distinguish it from the tarnished CRM abbreviation?) a “Correspondence Management System” (CMS) to improve management and control of its administration processes.
Mellon European Fund Services performs investor servicing on behalf of 20 major fund managers, including application processing and settlement, registration, customer servicing and dividend payments. By automating the tracking, measurement and quantification of all customer interactions, from fax to email, the CMS system aims to provide increased control and management oversight.
Oceanus says that its CMS solution has six main customer “touch points” that allow Mellon’s customer services team to manage, process and analyse its communications through the main channels by which they are received: post, telephone, fax, email, sms and corporate web interfaces. “The use of Workflow technology will enable the monitoring and control of business processes, from start to finish,” says Oceanus. “As a third party provider of services, Mellon will also be able to provide browser-based access to its customers so they can view data and monitor service levels.”
“Mellon has a firm belief in using technology as one of many paths to improve productivity and management control,” says Ray Pepper, Chief Operations Officer of Mellon European Fund Services. “Oceanus was chosen because its new CMS system will enable us to streamline our customer services environment, and offer greater operational transparency for customers.”
Nick Rowley, Chairman of Oceanus added: “Our ability to deliver a complete solution complete with defined benefits, on time and budget, was critical to being chosen. We are developing a considerable expertise in the financial sector where companies are seeking the clever use of technology to maintain that crucial competitive advantage.”
Mellon European Fund Services administer several types of UK-based mutual funds and their taxwrappers, including Unit Trusts, OEICs, ISAs, PEPs and DC (Stakeholder) pensions, from factories in London, Brentwood, Edinburgh and Dublin. In total, it handles just over 1.5 million individual accounts. Mellon European Fund Services also services the Egg funds supermarket owned by Prudential.
Formed in 1997, the Midlands-based Oceanus Group focuses on customer management tools for the financial, telecommunications and utilities industries. Its customers include BT Cellnet, Barclays, Vodafone, Cumberland Building Society, Alliance & Leicester International, Zurich Financial Services and Nottingham Building Society.