Boston Private Improves Reconciliation Process.(Advent Software's Rex software)(Company Operations)

Bank Systems + Technology, June, 1998 by O'Brien, Jeanne

Boston Private Bank and Trust has improved its position and transaction reconciliation process with Advent Software's Rex system, which lets the bank download transaction data via the Web.

"With the reconciliation process itself, we've gone from our data being a month or a month-and-a-half behind to having our data updated on a daily basis," said Mary Beth Spillane, performance measurement analyst for Boston Private, which has more than $1 billion under management. "Now managers know their data is right. They know exactly what cash they have to buy and sell with every day, so it's been a real benefit."

Boston Private, which also uses Advent's Axys portfolio management system, employs Rex to dial in to custodian bank State Street every morning,...

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