- BISYS Receives 5-Star Rating for
Mutual Fund Transaction Processing and Related Telephone Support -
NEW YORK, June 16 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
outsourcing solutions for the financial services sector, today announced that
its mutual fund processing services and telephone/call center support services
have received the 5-Star service performance rating in 2004 from National
Quality Review (NQR). BISYS' recognition in two categories, for the second
year in a row, is a notable achievement and a unique distinction in the
financial services industry.
Mark Rayford, Senior Vice President of ProFund Advisors LLC, a major BISYS
client, said, "We are delighted that BISYS has achieved this prestigious NQR
performance rating for two years running. This is a significant
accomplishment for BISYS, and it validates our decision to rely on BISYS for
mutual fund processing. This award communicates to our shareholders what we
already know -- that BISYS is committed to providing the highest quality of
service and support to mutual fund company clients and our constituents."
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.
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 were 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.
According to Fred Naddaff, President of BISYS Fund Services, "We are
honored to have earned this distinction again this year. This designation
recognizes our efforts to provide the best customer service quality in the
industry. Winning this 5-Star NQR rating is a direct result of the focus of
our dedicated service professionals on quality, accuracy, and responsiveness.
In addition, it highlights the high standards our service organization strives
to achieve for our services overall, and, ultimately, the shareholder
experience."
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 ProFund Advisors LLC
ProFund Advisors LLC, located in Bethesda, MD, is the investment advisor
to ProFunds, the nation's largest lineup of index-based mutual funds, with
more than 40 fund choices. ProFunds does not restrict investors' abilities to
shift their investments from one ProFund to another as they see fit, although
exchanges may have tax consequences.
Investing in ProFunds involves certain risks, including in all or some
cases, exchange rate, foreign currency, foreign money market instrument,
leverage, liquidity, concentration, non-diversification, high yield, interest
rate, credit, market, correlation, aggressive investment technique and
repurchase agreement risks. These risks can increase volatility and decrease
performance. Please see the prospectuses for a more complete description of
these risks. All ProFunds permit active investment strategies which can
decrease performance and increase expenses. Additional information is
available at http://www.profunds.com.
About BISYS
The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that
enable investment firms, insurance companies, and banks to more efficiently
serve their customers, grow their businesses, and respond to evolving
regulatory requirements. Its Investment Services group provides
administration and distribution services for mutual funds, hedge funds,
private equity funds, retirement plans and other investment products. Through
its Insurance Services group, BISYS is the nation's largest independent
wholesale distributor of life insurance and a leading independent wholesale
distributor of commercial property/casualty insurance, long-term care,
disability, and annuity products. BISYS' Information Services group provides
industry-leading information processing, imaging, and back-office services to
banks, insurance companies and corporate clients. Headquartered in New York,
BISYS generates more than $1 billion in annual revenues worldwide. 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.
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Related links:
http://www.bisys.com
http://www.profunds.com
Company News On-Call:
http://www.prnewswire.com/comp/851938.html
CONTACT:
Daniel Briggs, Vice President, Finance and
Investor Relations of The BISYS Group, Inc., +1-212-907-6134
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