CBFC Teams with INFOVISA
Agreement Brings Higher-Yielding Fixed Income Instrument, Improved Efficiencies to Trust Banks
Community Bank Funding Company and INFOVISA team to offer Trust Banks marketplace for certificate of deposits (CDs) featuring basis points (bps) pickup
DENVER, CO (January 20, 2009) – Denver-based Community Bank Funding Company and Charlotte-based INFOVISA today announced a strategic agreement to bring a high-yielding, fixed income financial instrument with improved efficiencies to customers in the trust bank industry.
The combined marketing effort allows INFOVISA to bring Community Bank Funding Company’s eCD product to its more than 140 trust accounting software customers. eCD is an online marketplace for certificates of deposit (CD), where institutional buyers and sellers conduct transactions in a fully automated system. In addition to the system’s unique and wide range of CD choices offered by hundreds of community banks nationwide, eCD investors benefit by gaining a 10-20 basis points (bps) “pick-up” when compared to traditional depository trust and clearing CDs.
INFOVISA’s MAUI™ trust accounting software platform allows bank trust departments to significantly streamline their operations, further customer relationships, and reduce overall costs.
“The strategic fit is extremely exciting,” said INFOVISA President Mike Dinges. “Our clients are demanding higher yields in the fixed income arena and this gives them a way to purchase CDs in a streamlined, point-and click process.”
According to Community Bank Funding Company Director Jeremy Colvin, the INFOVISA agreement bridges strategic gaps for both organizations. “Quite simply, we have valued CD inventory with a best-in-class CD exchange portal and they have a strong distribution channel.”
“INFOVISA has an excellent reputation with their clients in the wealth management industry,” Colvin added. “eCD is an easy to use product, regardless of the investment size, whether an investor is seeking to place $100,000 or $1 million. eCD provides the investor the ability to invest in CDs as easily as a money market fund or other fixed income instruments. Meanwhile, our innovative settlement process eliminates the costly administration hassles normally encountered in “bricks-and-mortar”-based CD-buying. Literally, eCD is point, click and buy, with an automated confirmation and settlement process.
“Together, our two companies share the same vision of providing better intelligence, higher yields and improved efficiencies through innovation.”
About INFOVISA
INFOVISA is a privately held software development & services company dedicated to serving the needs of the Trust and Wealth Management industry. By utilizing their Innovation by Design™ approach they are able to offer innovative solutions to asset management and investment professionals. Organizations that deploy the MAUI™ suite of premier products and services are able to significantly streamline their operations, further customer relationships, and reduce overall costs. Since introducing MAUI in 1997, INFOVISA continues to expand and much of its success can be attributed to their dedication of software development and aggressively expanding their product offering. The national headquarters for INFOVISA is in Cornelius, North Carolina with offices in Denver, Colorado and Lincoln, Nebraska.
