NewRiver and DST Systems Announce an Expansion and Extension of Their Strategic Relationship
ANDOVER, Mass., Mar 12, 2002 (BUSINESS WIRE) -- NewRiver, Inc., a leading
provider of e-services for the financial industry, today announced that an
agreement had been reached with DST Systems based in Kansas City, Missouri to
expand and extend the current strategic relationship between the companies. As
part of this agreement, the Informa Alliance - an exclusive offering that
enables financial service firms to deliver personalized electronic statements,
confirms and compliance documents to investors via the Internet -- has been
extended through March 2007. This will enable the companies to focus on
developing and bringing advanced electronic solutions to investors.
"NewRiver is focused on providing customer-driven products and services to the
financial industry," said NewRiver Chairman and Chief Executive Office, Larry
Renfro "Our business with DST Systems - a leader in the mutual fund processing
arena, can now be expanded into new growth markets, allowing for enhanced
customer loyalty while also reducing costs."
The relationship has also been expanded to allow NewRiver to use DST's "Print on
Demand" fulfillment solution in the mutual fund, insurance, 401(k) and bank
markets.
Late in 2001, NewRiver launched Prospectus Express, Intelligent Delivery
Service. This fulfillment service provides a database of investor delivery
preference information along with print-on-demand capabilities enabling
financial firms to deliver customized compliance information to their investors
either electronically or in hardcopy.
All compliance information is delivered from NewRiver's XML database sourced
directly from the Securities and Exchange Commission's (SEC) EDGAR database.
This comprehensive data warehouse is updated daily to identify new filings and
includes prospectuses, annual information forms, annual, semiannual, and interim
reports and amendments.
DST Systems will use the Prospectus Express database with its Vision(R) portal.
Vision, the portal of choice among financial advisors, provides comprehensive
access to more than 70 percent of dealer-distributed mutual funds with a single
sign-on, in a real-time environment.
"Expanding our business with NewRiver is the natural progression of the
relationship between our companies. NewRiver continues to expand its product
offerings to provide innovative electronic capabilities for investors," said Tom
McCullough, Chief Operating Officer of DST Systems.
NewRiver and DST Systems combine decades of financial services expertise coupled
with superior technology to supply financial services companies with the
full-featured compliant investor communications. Since 1999, more than 30
customers in the mutual fund and brokerage industries have been served through
this alliance.
About NewRiver
Headquartered in Andover, Massachusetts, with offices in San Francisco, New
York, Kansas City, and Toronto, NewRiver (newriver.com) is the leading provider
of e-services for the financial industry. NewRiver offers an extensive range of
outsourcing solutions to enable electronic financial services. NewRiver
currently serves more than 70 top financial firms, including American Express,
Aetna, Charles Schwab & Co., ETRADE, GE Financial, INVESCO, Merrill Lynch,
Morgan Stanley Dean Witter, NVest, Paine Webber, SalomonSmithBarney, Schoolhouse
Capital, LLC, TD Waterhouse Group, Inc., and T. Rowe Price.
About DST Systems
DST Systems, Inc. (NYSE: DST) ( www.dstsystems.com ) provides sophisticated
information processing and computer software services and products that help
clients improve productivity, increase efficiencies, and provide higher levels
of customer service. DST is organized domestically and internationally into
three operating segments: Financial Services, Customer Management, and Output
Solutions. DST operates one of the most advanced data centers in the world,
which provides information-processing services to support the products within
each operating segment. These products are further enhanced through the
integration of DST's advanced technology and e-commerce solutions.
Copyright (C) 2002 Business Wire. All rights reserved.
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