ADP and NewRiver Announce Alliance to Provide E-Services to the Brokerage Community.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 17, 2001 As Part of Alliance, Newriver to Provide Adp With Exclusive Use of Prospectus Express(TM) Within Brokerage Market ADP Investor Communication Services (ADP ICS (1) (Internet Connection Sharing) A Windows feature that enables two or more computers to share one Internet connection. First introduced in Windows 98 Second Edition, sharing is accomplished with network address translation (NAT), which is the common method. ), a division of Automatic Data Processing's (NYSE NYSE See: New York Stock Exchange :ADP) Brokerage Services Group, today announced an alliance with NewRiver, Inc. to make end-to-end electronic communication services available to the brokerage community. As part of the alliance, NewRiver will provide ADP with exclusive use of its Prospectus Express(TM) suite of products within the brokerage market. ADP will integrate the Prospectus Express electronic service into its comprehensive fulfillment solutions. "ADP is an industry leader in prospectus delivery, providing this service to over 140 brokerage clients," says Gerard Scavelli, Senior Vice President, ADP ICS. "NewRiver's Prospectus Express has become an industry standard for compliance and investor communications for the fast-growing on-line investment business, shaving millions of dollars from brokerage firms' yearly distribution costs distribution costs distribute npl → Vertriebskosten pl and offering new ways to delight investors. We view NewRiver's Prospectus Express as an important element in maintaining ADP's leading edge in investor communications and electronic servicing." "This alliance is a milestone for the brokerage community," said Larry Renfro, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NewRiver. "When coupled with ADP's fast growing database of delivery preferences for 2.3 million investors, NewRiver's Prospectus Express will provide a complete suite of electronic and print-on-demand services that will support financial managers in providing their customers with World Class Service." NewRiver, whose e-services are the backbone of more than 23 million online investment accounts, recently launched Prospectus Express, Intelligent Delivery Service. The fulfillment service equips brokerage firms with an electronic database of investor information and print-on-demand (POD) capabilities--enabling them to print and e-mail annual reports, prospectuses and similar information from the database on an "as needed as needed prn. See prn order. " and customized basis, or to deliver all information electronically. Companies adopting the service deliver investor information from an XML based database sourced directly from the Securities and Exchange Commission's (SEC) EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. database. ADP will integrate Prospectus Express into its suite of products offered to the brokerage community. "These services are only the beginning," noted Renfro. "Both ADP and NewRiver are known for their in-depth financial industry focus and solid market penetration Noun 1. market penetration - the extent to which a product is recognized and bought by customers in a particular market penetration - the act of entering into or through something; "the penetration of upper management by women" . The synergies between the two companies are promising, and we plan to leverage them for the continued benefit of our brokerage clients." About ADP Brokerage Services Group As the premier provider of transaction related services to the financial industry, ADP has the capacity and technological expertise to assist its clients in differentiating themselves in the marketplace. ADP brings to financial intermediaries Financial intermediaries institution that provide the market function of matching borrowers and lenders or traders. advanced, integrated systems for securities processing, desktop productivity and investor communication services, all focused on providing unique solutions for straight through processing In financial technology, the ability to process a stock transaction by computer from beginning to end without manual intervention at any of the stages. and World Class Service. ADP continually uses technological advancements to develop innovative products that meet the long-term business needs of its clients. As a leading outsourcing vendor, ADP is leveraging its position to provide competitive, cost-effective services to its clients worldwide. With approximately $7 billion in revenue and more than 500,000 clients, ADP is one of the largest independent computing services firms in the world. For more information about ADP Brokerage Services Group visit our website at www.bsg.adp.com. For other ADP services and investor information please visit www.adp.com. About NewRiver Headquartered in Andover, Massachusetts, NewRiver (newriver.com) with offices in San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Kansas City, and Toronto, Canada, is the leading provider of e-services for the financial industry. NewRiver offers an extensive range of outsourcing solutions to enable electronic financial services, focusing on electronic fulfillment and online customer support. NewRiver currently serves more than 70 top financial firms. |
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