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-Boston Financial, Bonaire continue intermediary payment pact.

BANKING AND CREDIT NEWS-February 12, 2013--Boston Financial, Bonaire continue intermediary payment pact(C)2013 M2 COMMUNICATIONS

12 February 2013 -- Boston-based revenue and expense management technology firm Bonaire Software Solutions LLC and transfer agency and financial services solutions firm Boston Financial Data Services Inc said they have continued their strategic relationship to provide services to the mutual fund industry.

The two firms said they have worked together since early 2012 to address intermediary reconciliation issues and develop new servicing capabilities.

According to the firms, the alliance between Bonaire Software and Boston Financial enables fund companies to automate invoice validation and management.

Bonaire's Revport software is the technology driving the payment administration component of Boston Financial's complete Financial Intermediary Administration (FIATM) Solutions business.

Revport is meant to simplify fee calculations and validates payments made to financial intermediaries, Bonaire said.

The software also automates the calculation of distribution fee billing and the invoice reconciliation process for mutual funds and their distributors or financial intermediaries.

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1 USD = 0638195 GBP

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Publication:M2 Banking & Credit News (BCN)
Date:Feb 12, 2013
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