Fidelity Plans to Install A Bell Atlantic System
KEW GARDENS, N.Y. - Fidelity Holdings Inc. has signed a contract for Bell Atlantic to build a synchronous optical network ring for offices of its IG2 Inc. subsidiary in the New York City area.The system is to be used by IG2's forthcoming New York central offices in Manhattan, Brooklyn, Elmhurst, Garden City, Bayside, and Forest Hills.
Sonet networks are designed to provide instant backup.
If there is a breakdown, traffic is automatically rerouted on the ring and there is no loss of service, Fidelity said.
PNC Investment Unit Links Lending Parties
PITTSBURGH - PNC Capital Markets Inc. has begun using a service from New York-based IntraLinks Inc. to communicate through the Internet with parties involved in its syndicated lending deals.The IntraAgency service lets those parties send one another financial reports, compliance certificates, amendments, funding notices and other material over secure Internet connections.
IntraAgency reduces the need for long-distance calls, faxes, and mailings, the companies said.
PNC Capital is the investment banking subsidiary of PNC Bank Corp. of Pittsburgh.
U.K. Investment Bank Picks Processing System
VANCOUVER, Canada - Fleming Premier Banking, one of the United Kingdom's oldest investment banking and fund management institutions, has started to implement Prologic Corp.'s Ovation banking system.Fleming, established in 1873, manages assets of about $100 billion and has offices in 45 countries. Its Premier Banking division, established in 1983, provides high-interest checking and savings accounts to private individuals and small businesses by telephone. Its 100,000-plus customers hold deposits of about $2.2 billion. The Ovation core processing software will be used to enhance Fleming's forthcoming Internet banking service. A Prologic partner, APAK Systems Ltd., plans to have Fleming converted to Ovation by May.
"We wanted a system that allowed us to quickly implement support for the euro, as well as to rapidly deploy competitive new products and services," said Andrew Lowe, head of strategy and marketing at Fleming. "Ovation will allow us to run faster than our competitors as well as to increase our client acquisition and retention."
2 Software Firms Allied For Bill Presentment
TORONTO - Xenos Group Inc. and Just In Time Solutions Inc. of San Francisco have agreed to sell a jointly developed electronic bill presentment and payment system to companies that send out large numbers of bills.The system will use Xenos' technology for converting legacy bill data into a variety of electronic formats, including the eXtensible Markup Language. It will then send the data to Just In Time's BillCast software, which will process the information for presentment on the Internet. Just In Time will also provide electronic payment software.
Just in Time's customers include AT&T, Bank of America Corp., Intuit Inc., Spectrum, and Wells Fargo & Co.
Xenos, which has its headquarters in Toronto, provides electronic document and bill presentment software to such companies as Bear Stearns & Co., Bank of New York, and Merrill Lynch & Co.