- BISYS Receives 5-Star Rating for
Mutual Fund Transaction Processing and Related Telephone Support -
NEW YORK, March 17 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
business process outsourcing solutions for the financial services sector,
today announced that its mutual fund processing services and related
telephone/call center support services received a 5-Star service performance
rating in 2003 from National Quality Review (NQR). BISYS' recognition in two
categories is a notable achievement and a unique distinction in the financial
services industry.
NQR systematically monitors and analyzes the service quality of financial
services organizations with a comprehensive suite of performance measurement,
quality assessment, and statistical reporting tools. Its 5-Star rating is
awarded to organizations with documented service performance within the top
quartile of their competitive benchmark for four consecutive quarters.
BISYS' 5-Star rating is based on NQR's transaction processing review,
which encompasses a detailed analysis and rating of overall processing
activities, including the accuracy and timeliness of the mutual fund
transactions BISYS processes. Daily transactions are randomly selected from
all of BISYS Fund Services' clients and reviewed for accuracy and timeliness
based on transfer agent operating procedures and specific fund policies.
NQR also reviews and rates the related telephone/call center performance
with objective evaluations incorporating 27 standard criteria and specific
rules designed to determine the quality of telephone service. NQR's
evaluation of BISYS' telephone/call center performance also resulted in a
5-Star rating for outstanding performance in 2003.
According to Fred Naddaff, president of BISYS Fund Services, "We believe
receiving this superior rating from an objective, impartial organization like
NQR is the direct result of our focus on quality, accuracy, and
responsiveness; and further validates the high standards of our service
organization, and the quality and consistency of the services it provides.
This important designation as a 5-Star performer clearly demonstrates that our
proactive efforts and initiatives to continually enhance our transfer agency
services, and ultimately the shareholder experience, through superior service
are being achieved and recognized."
Dana Donahue, senior vice president of BISYS Fund Services, added, "We
continually look for specific ways to competitively differentiate our product
and service offering, and to ultimately provide a platform that enables our
clients to differentiate themselves in a highly competitive industry. NQR's
unbiased evaluation that BISYS' mutual fund processing and call center
services that support each of our 66 onshore transfer agency clients warrant
NQR's premier 5-Star designation is an important endorsement for our
organization and further differentiates BISYS in today's marketplace."
About National Quality Review
Founded in 1991, NQR offers a unique perspective to its clients on service
quality performance. NQR's financial services clients include 56 percent of
the top 25 mutual fund companies in the U.S. NQR's founding partners and
staff specialize in performance measurement, quality assessment, training,
survey design, and statistical reporting. NQR has a staff of 70 financial
service professionals with backgrounds in load and no-load mutual funds,
insurance, and variable annuity operations. The staff has an average of more
than 10 years' experience in financial services. Many of the individuals have
earned Series 6, 63, or 7 licenses.
About BISYS
The BISYS Group, Inc. (NYSE: BSG), headquartered in New York City,
provides business process outsourcing solutions that enable investment firms,
insurance companies, and banks to capitalize on convergence by entering new
segments of the financial services industry. BISYS currently supports more
than 22,000 domestic and international financial institutions and corporate
clients through three business units. Its Investment Services group provides
administration and distribution services for approximately 380 clients,
representing more than 2,200 mutual funds, hedge funds, private equity funds,
and other alternative investment products with approximately $750 billion in
assets under administration. BISYS' largest group also provides retirement
services to more than 18,000 companies in partnership with 40 of the nation's
leading banks and investment management companies, and offers analytical
research and competitive information through its Financial Research
Corporation (FRC) subsidiary. Through its Insurance and Education Services
group, BISYS is the nation's largest independent distributor of life insurance
and the premier provider of the support services required to sell traditional
and variable life, long-term care, disability, and annuity products. BISYS is
also the nation's second largest independent wholesale distributor of
commercial property/casualty insurance. This group complements its insurance
distribution services with a comprehensive compliance management solution that
supports insurance and investment firms and professionals with more than 215
certification and continuing education training courses, and a sophisticated
suite of products and services that automates the entire licensing process.
BISYS' Information Services group supports approximately 1,450 banks,
insurance companies, and corporations with industry-leading information
processing and imaging solutions, turnkey asset retention solutions, and
specialized corporate banking solutions. Additional information is available
at http://www.bisys.com.
Except for the historical information contained herein, the matters
discussed in the press release are forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting the Company's operations, markets, services and related
products, prices and other factors discussed in the Company's periodic filings
with the Securities and Exchange Commission.
SOURCE The BISYS Group, Inc.
 back to top
Related links:
http://www.bisys.com
Company News On-Call:
http://www.prnewswire.com/comp/851938.html
CONTACT:
Fred Naddaff, President, BISYS Fund Services,
+1-614-470-8100
|
