New digital portal aims to revolutionize how mutual fund changes are communicated.
February 7, 2018, Columbus, Ga. — Delta Data, a leading provider of software and data management solutions for the mutual fund industry, today announced the launch of FundBlast™, a transformational digital portal for communicating mutual fund changes in real time.
Developed to seamlessly facilitate the notification and processing of fund events such as new products, mergers, liquidations, accounting changes, and trade rule updates, FundBlast serves all parties involved in the fund actions lifecycle. This includes fund companies, distribution partners (broker-dealers) and fund service providers such as transfer agents, fund accountants, and record keepers.
“FundBlast will replace the current email-based notification process around important fund events and truly revolutionize how they’re communicated,” said Whitfield Athey, CEO, Delta Data. “After four years of development, while incorporating feedback from our industry partners, we feel that FundBlast is going to be the new standard in fund communications.”
Currently, there is little consensus in the mutual fund community when communicating fund events other than sending out email blasts to distributors, with each fund company having a different format. The lack of consistency is a major pain point for distributors, creating inefficiencies such as data latency and the inherent risk of information not reaching its intended target.
Delta Data estimates that a typical broker-dealer client, prior to implementing FundBlast, has to manually sift through more than 21,000 emails over the course of a given year from their fund partners, some requiring action or maintenance, and that the perceived risk of this activity is high.
FundBlast aims to provide a standardized, real-time method of communication that will mitigate risk, streamline operations and reduce communications between funds and their distributors and administrators.
Link to press release on business wire.
About Delta Data
Delta Data provides the back-end solutions that companies in the mutual funds industry use to process billions of dollars of transactions and keep on top of their data. With companies in this industry facing constant change from regulatory, technology, industry, and even internal sources, Delta Data helps them see the change through advisory services, get ahead of it with SaaS and installed software solutions, and stay on course without introducing new risks into their systems. That’s why many of the biggest names in financial services rely on Delta Data to help them stay ahead of the change. To learn more, visit www.deltadatasoft.com.