Bank Of New York Upgrades Extranet Tool For Custody Clients

MANAGEMENT & INFRASTRUCTURE

NEW YORK--Bank of New York has upgraded its browser-based information tool for institutional clients of its $4.2 trillion master trust and custody business. The upgrade to the product, Inform, is yet another sign that custodial banks are using technology-based services to compete for business of investment managers.

The system was first developed in 1995, and was made available to clients at the end of 1996, says Kurt Woetzel, senior vice president. Inform was "introduced in house to automate

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