Frontier Financial Services (Cayman) Ltd. and TriSys Consulting Ltd. have launched FrontierNet Fund Accounting Back Office Services.
FrontierNet’s Secure Fund Solution combines Summit, TriSys’ multi-currency, investment accounting software, with FrontierNet, Frontier’s high-availability offshore computing platform.
With this combination, SFS delivers a fully hosted, fully managed back office solution for small to medium sized or new fund administration companies for a fixed monthly price and a low up-front cost, states a press release.
Frontier & TriSys have combined technologies in order to eliminate many of the traditional barriers to entry.
‘The combination of FrontierNet and Summit is more than just computing and software; it is a marriage of technologies. Together, we deliver unprecedented depth as the market’s first-ever, low up-front cost solution for Fund Administrators,’ said Michael Jardine, a Frontier partner.
Bob Gupta, a partner at TriSys, underscores this point.
‘Until now, the No. 1 barrier to entry for new fund administrators or barrier to expansion for smaller shops has been the cost to run the necessary technology infrastructure and the up front acquisition cost of the software required to effectively manage their business.’
Mr. Jardine explains the additional benefits.
‘SFS guarantees offshore data residency for clients and meets the strictest of standards for business continuity and disaster recovery, offering an impressive uptime Service Level Agreement.’
Even though SFS is sold through Frontier’s Cayman office and TriSys’ Canadian office, the service is available to clients around the world.
Customers access SFS over secure internet connections and their data remains private.
As fund administrators expand and take on larger clients, they have traditionally outgrown their existing technology infrastructure, at least until now.
‘That’s no longer a problem,’ said Mr. Gupta. ‘SFS is an on-demand platform. This means that as you grow, so does your infrastructure.’
TriSys Consulting Ltd. provides sales, implementation and support services for the Summit investment accounting system. In addition, TriSys also offers a range of related services for the financial services industry including traditional business analysis, strategic planning, application development, design, and implementation services. Founded in 2004, TriSys Consulting Ltd. is located in the financial district of Toronto, Canada. www.summit-trisys.com
Frontier is a full service, multi-jurisdictional business, technology, recruiting, accounting consulting and secondment company with primary operations in Bermuda, Grand Cayman and the Turks and Caicos Islands, as well as Frontier associate offices located throughout Canada and the United States and European offices in Dublin, Ireland and London, England. www.frontiercayman.ky