Accenture of New York has developed a new product division called Encompys to create a new Internet-based product for fund managers, the company announced late last week.

The management and technology consultant has formed a partnership with several major financial and technology companies, including Microsoft and the Bank of New York, to develop a straight-through-processing product. Encompys could reduce the amount of time fund managers spend conducting transactions and the risk they incur from securities trading and settlement, company representatives said.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.