State Street Corp. has introduced a new automated service to help fund companies lower their operating costs. Linked to the firm’s global accounting and fund administration systems, it automates manual or partially automated accounting processes in the back office.

“In the current economic environment, mutual and collective fund companies face a greater need to reduce fund expenses while retaining customer business and satisfaction,” said Pat Centanni, executive vice president and head of global product management at State Street.

State Street’s fund administration system also includes legal support, Treasury, financial reporting, tax reporting, compliance and Blue Sky.

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