National Financial Services Corp., a bank brokerage clearing firm owned by Fidelity Investments, has introduced a computer service to help brokers in remote branches gain quicker access to financial information gathered at the home office.
The service, called Maxxnet, will allow far-flung brokers to call up stock quotes, business news, and customer account reports on their personal computers instead of calling headquarters on the telephone or waiting for faxed information.
The service is the only one currently available to banks that streamlines the information brokers need onto one communications line, said Robert Middleton, National Financial's vice president, correspondent services.
"You need to add value beyond what customers can do on their own," he said.
Another important feature is that brokerage executives can communicate simultaneously to their entire staffs, and thus "to some extent control what they're selling," he said.
Mr. Middleton said the service has other capabilities that are optional. For instance, a bank that subscribed to a research analyst firm could put reports on mutual funds or individual stocks on-line.