(September 26 – 11:40 ET) – CIBC Mellon Global Securities Services Co. says that its clients are now able to receive their financial and investment portfolio information via the Internet.
Using the Internet means accounting statements can be delivered to clients in a matter of hours, rather than the days it currently takes to receive hard copies via traditional mail. Clients can review the information in a format identical to paper statements, and have the ability to reformat data by saving it in an ASCII file format. Statements are available online for seven years and a CD-ROM is created and sent to clients for further archiving purposes.
“This product clearly positions CIBC Mellon as a leader within the custody industry for leveraging new technologies that enhance client service,” said Thomas C. MacMillan, CEO, CIBC Mellon. “We hope to continue demonstrating our commitment to innovation by introducing additional products and services that meet the increasingly sophisticated needs of clients.”
“This Internet-based service provides us much quicker access to our accounting information,” said Tim Hebert, Manager, pension fund administration, DaimlerChrysler Canada Inc. “We jumped at the chance to be the first client in Canada to take advantage of the opportunity to go paperless.”
-IE Staff