Redi2 Technologies Partners with Electra Information Systems to Develop Industry-First Billing Data Aggregation Service for Institutional Asset Managers

OAKLAND, Calif., May 4 /PRNewswire/ -- Redi2 Technologies, a leading provider of sophisticated yet simple to use fee billing solutions for the global financial services industry, today announced a new custodian data aggregation service, RecCollect Redi2Connect, jointly developed with Electra Information Systems, a leading provider of data aggregation, account reconciliation, trade automation and settlements solutions.  

The new service enables Redi2 clients to receive consolidated data, such as market values, contributions and withdrawals, from custodians in a single file that is then imported directly into Redi2 Revenue Manager™. Because the aggregated custodian data is preformatted for Redi2 Revenue Manager, users can calculate fees and generate invoices or direct debit feeds quickly and more efficiently, without manual intervention or data entry.

"With this alliance, Redi2 clients can streamline the steps needed to achieve accurate and centralized billing when aggregating data from multiple custodians in various formats," says Redi2 Technologies Chief Executive Officer Seth Johnson.  "We are confident that Electra's unsurpassed quality, timeliness and secure data delivery will help clients meet this objective."

"One of the challenges organizations face in implementing world-class systems is integrating them," says Electra Information Systems Managing Director Ian Danic.  "Redi2 brings to the table its expertise in sophisticated fee and revenue management processing and Electra provides data aggregation and transformation from virtually all custodians."

Redi2 Revenue Manager automates account setup and termination, invoice generation, fee/payment reconciliation as well as adjustments and reversals.  Redi2's award-winning fee billing software helps global financial firms streamline operations and improve cash flow, reduce processing costs, enhance client service and meet increasingly rigorous regulatory and compliance obligations.

About Redi2 Technologies

Redi2 Technologies is a leading software provider that focuses on fee billing software for the global financial services industry, including institutional asset management, managed accounts, private wealth, mutual funds, custody and alternative investment firms as well as third party outsource providers. Based in Oakland, Calif., Redi2 offers flexible, feature-rich solutions that help firms streamline operations, improve cash flow, reduce costs, enhance client service and meet compliance obligations.  Redi2's award-winning fee billing and revenue management solution, Redi2 Revenue Manager™ features an advanced yet intuitive user interface and user-definable workflow and calculation rules. Redi2 Revenue Manager can be deployed via a Software as a Service (SaaS) model or in-house on industry-standard relational databases and operating systems, easing integration with third party solutions, including accounting, portfolio management, performance measurement and customer relationship management (CRM) systems. For more information, visit www.redi2.com.

About Electra Information Systems

Electra Information Systems, Inc. is an industry innovator in providing solutions for Data Aggregation, Reconciliation and Settlements. Electra brings unparalleled expertise in delivering highly effective, easily implemented solutions that are used by 40% of the top 25 investment management organizations and has become a market leader in providing reconciliation, trade automation and settlements solutions. Electra processes detailed information on over 1.5 trillion dollars (US$) in cash and securities holdings daily. Electra customers cover the breadth of the financial services industry, including Investment Managers, Hedge Funds, Insurance Companies, Custodial Institutions, and Banks. Founded in 1998, Electra is headquartered in New York City.

For more information about Electra's products and services, visit www.electrainfo.com.

SOURCE Redi2 Technologies