Fleet National Bank, the second largest depository bank for government in the United States, introduced Wednesday its latest offering for government clients, Fleet DataExcel(SM). Fleet DataExcel is an Internet-based data reporting service that offers a wide range of online data reporting and provides MuniCash and MuniPlus customers with continuous online access to their short-term investment data along with customized reporting capabilities. This latest innovation in electronic data delivery will dramatically reduce the time and paperwork involved in daily and monthly reconciliation and reporting.
Fleet DataExcel is a leading-edge, Internet-based reporting application that securely and seamlessly provides government users a view of their Fleet accounts or aggregated information across multiple financial institutions, and then downloads that information into a variety of formats, including Microsoft Excel.
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Among the many features of Fleet DataExcel is Tri-Party Collateral Confirmation Reporting. With Fleet DataExcel, customers are now able to electronically receive both daily and monthly reports on their collateral positions for each of their accounts, whenever they want the information and without having to maintain paper statements.
“Government entities have a number of special, often legally required, reporting needs,” said John B. Robinson, Managing Director of Government Services at Fleet. “Using Fleet DataExcel will fundamentally transform the turnaround time of report preparation and financial information dissemination.”
In addition to providing high quality, usable financial data, Fleet DataExcel was designed to address unauthorized transaction liability concerns for end-users of online data reporting services. Fleet DataExcel utilizes technology solutions to create sound, secure access to account information. Data confidentiality is protected through physical signature verification, data encryption, digital certificate technology, and other security measures.
Fleet DataExcel was developed for Fleet, and is supported by Evare L.L.C., a Massachusetts-based company that specializes in delivering technology solutions for the financial industry. “We are pleased to contribute to Fleet’s ongoing initiative to offer tailored Internet solutions for their clients,” said Joan Perz, Evare’s Chief Executive Officer. “Fleet DataExcel provides Fleet with a means to cement a strong relationship with its customers via the Internet. The service is a solution to the transaction consolidation dilemma that has long plagued financial professionals.”
FleetBoston Financial is the seventh-largest financial holding company in the United States. A diversified financial services company with assets of $192 billion, Fleet offers a comprehensive array of innovative financial solutions to 20 million customers in more than 20 countries and territories. Among the company’s key lines of business are: retail banking, with more than 1,500 branches and more than 3,700 ATMs in the Northeast; corporate banking, including capital markets/investment banking and commercial finance; investment services, including nationwide brokerage; and full-service banking through more than 250 offices in Latin America. FleetBoston Financial is headquartered in Boston and listed on the New York Stock Exchange (NYSE:FBF) and the Boston Stock Exchange (BSE:FBF). For more information visit Fleet’s “dataexcel.com” web site.
Evare is a leading provider of innovative portfolio management, data aggregation, and financial transaction network solutions. Evare clients include some of the largest multinational financial entities in the world, as well as institutional investors managing portfolios of all sizes. For over 15 years, the company has provided its clients with affordable, easy-to-use software solutions that provide a complete range of financial capability. Headquartered in Burlington, MA, Evare partners with financial institutions that want to strengthen their Internet presence and competitive position in the market. For more information, please contact Susan Farley or Carter Welch at Evare, (781) 270-5501.
