CorrectNet Adds 10 New Institutional Clients, Expands Support for 8 Global Data Centers

CorrectNet, Inc., a provider of information delivery and client reporting services for many of the world's largest investment management firms, has added ten new institutional clients and expanded support for eight global data centers to boost infrastructure for clients. The company will showcase client reporting innovations for asset management firms and institutions at the Osney Media Client Reporting & Servicing Event, to be held on November 18-19 in London. The global economic crisis has presented financial services firms with significant challenges. Investors have lost faith in their financial institutions, regulatory pressures are mounting, and many firms are facing severe client attrition, according to Robert J. Miller, CEO of CorrrectNet, in a press release. "It's a new and changed world. Now, more than ever, firms are recognizing the need for client reporting solutions that can deliver more information, more frequently, with more flexibility, efficiency and quality," he added.

CorrectNet has added ten institutional clients from the financial services asset management sector in 2008 to deploy its managed client reporting service. The firm has also expanded support for eight data centers to ensure continued secure, reliable, and highly available operations for clients. With new institutional clients and additional data centers, the growing success and scale of the CorrectNet managed client reporting service speaks to the maturity of the offering, the deployment of sound business practices, and the relevancy of the solution. "Top of mind for senior executives at our largest customers is maintaining the confidence of their clients, developing business models that will win new clients, and building out operating platforms that can scale and support much more rigorous client demands, and inevitable regulatory pressures for transparency," Miller added.

"The CorrectNet managed service has always been the first choice of large institutional managers seeking to meet the growing and complex demands of their investors," said William Cline, founder and managing partner, The Cline Group, in the release. "It is significant for the future of the financial markets that more asset managers of all sizes will now have the ability to leverage this innovative service to deliver value to their clients, especially in these unsettling times as investors seek reassurance in volatile markets," he added.