San Francisco, Calif. — Exigen Group today announced that they have signed a managed service contract for the Exigen Compliance Process Backbone with Talbot Financial Network (TFN), a regional office within Financial Network Investment Corporation (FNIC), which is a broker dealer affiliate of ING Advisors Network. The solution is the only one currently available on the market and compliant with newly implemented SEC/NASD rules and regulations 17a-3 and 17a-4, including Electronic Document Management (EDM). The solution allows TFN to move towards a completely paperless work environment, with reduced cycle times, lower operating costs and streamlined approval processing for client transactions and communications.
Exigen Compliance Process Backbone includes imaging, archive, retention, retrieval and security of all communication documents requiring compliance. Managed as a centralized database, information is accessible to TFN's entire sales force of 350 representatives in the field, creating a nationwide distribution network where back office processes are automated and delivered on demand to branch offices across the U.S., enabling TFN to cost-effectively manage their continued growth.
"Early on, we realized we didn't have the bandwidth to support a state-of-the-art field solution in-house. Exigen's application enables us to focus on our core business – financial planning," stated John Brackett, president of Talbot Financial Network (TFN). "Our partnership has resulted in a solution that enables us to seamlessly incorporate additional offices and reps to the system without any extra cost, allowing us to focus on our growth and deliver repeatable value to our customers."
"Companies in the financial services sector are coming under increased scrutiny by regulators," commented Greg Shenkman, CEO of Exigen Group. "Our solutions for Financial Services are designed to improve profitability by lowering fulfillment and service costs, while speeding core business processes. By taking over their underlying support processes, we allow our customers to focus on the remainder of the profitability equation: growing revenue and providing differentiated services to their clients."
Regulatory compliance field solutions are just one component of the Exigen Business Process On Demand strategy that delivers continual cost reductions for Exigen's customers. Business Process On Demand operations are capable of having process execution performed anywhere and anytime, transparently allowing offshore labor or third party administrators to perform tasks. For instance, Exigen Compliance Process Backbone allows outsourcing of archive management, retention services or periodic compliance audits. Business Process On Demand can also leverage shared outsourced infrastructure, thereby creating cost savings through economies of scale as transaction volumes are aggregated across multiple customers. This roadmap from automation, to outsourcing, and to aggregated Business Process On Demand infrastructure ensures that our clients realize continuous cost reduction from our software and services.
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