Content area
Full Text
BISYS Fund Services is rolling out a system that will allow retail customers of its bank and fund company clients to purchase mutual fund shares online and have access to all their account information. Specifically, it operates by consolidating various recordkeeping systems already in place at firms and giving the firms' retail investors trading capability as well as complete access to account information. Jim McCoy, manager of the growth opportunities group at BISYS, expects the system will be used mainly by banks and small fund companies that lack the technology to do this themselves. "It's no secret that the Internet offers fund companies a new distribution channel. We are just offering them the chance to use it as a way of raising assets," said McCoy.