Asset management firm SEI Investments has hired Hyland Software of to power its separately managed account platform.

Hyland’s OnBase4 integrated document management software will enable SEI to offer virtual, straight-through processing to its middle and back office so that clients can focus more readily on core investment management and value-added activities.

"By choosing Hyland’s OnBase software, SEI will transform the typical paper-burdened SMA processes into a strategic management information source," said A. J. Hyland, president and chief executive of Hyland Software, in a statement. "Money managers are looking to technology to help them stem the rising operational costs of their SMA business."

Integrating OnBase into its SMA platform will provide a high-quality, cost-effective outsourcing solution, SEI said. SEI administers $235 billion in mutual fund and pooled assets, manages over $85 billion in assets, processes almost $50 trillion of investment transactions annually and operates 21 offices in 10 countries.

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