Fund Communication is Ready for an Upgrade
Tech innovation is necessary to cut the industry’s ties with legacy software, FundBlast System.
The industry’s move to an email-based system has been the only minor update to the blast fax infrastructure in the last 30 years with regards to communicating fund changes and events. The mutual fund industry is rooted in a complex data set and has embraced its own way of processing data.
Fund companies currently send thousands of emails to their distributors. Recipients of these emails must parse through each one to determine if the communication is even relevant. In the case that an email is pertinent, that firm must then figure out the appropriate changes to process and move it downstream in their organization. It is a time-consuming process that relies heavily on manual intervention, making it riddled with risk.
Whitfield Athey is CEO of Delta Data Software. His role at Delta Data is focused on growth of the product base, satisfaction of clients and scalability of the organization.