News and Notes : Institutional Billing : Asset Management Billing : Redi2.com

Redi2 Technologies on track to set record-breaking growth for 2009

June 23, 2009

OAKLAND, CA – Redi2 Technologies, a leading provider of sophisticated yet simple-to-use fee billing software for the global financial services industry, today announced the company is on track to set record-breaking growth for the year, with three significant Redi2 Revenue Manager^TM license agreements signed in the second quarter of 2009. Collectively, Redi2's client base now manages more than $3 trillion in assets.

In May, A New York-based asset management firm with nearly $65 billion in investable assets agreed to convert from a competing solution to more easily manage its day-to-day billing operations, to calculate fees and accruals with improved accuracy and to distribute client invoices more quickly.

Also in May, a fee-based managed accounts solution provider agreed to work with Redi2 to streamline billing across its 75 institutional money managers serving 1,800 financial advisors with some $7 billion in client assets.

In June, the private wealth management division of one of the world's top 10 investment management firms with more than $500 billion in assets under management agreed to license Redi2 Revenue Manager via Redi2's Software as a Service (SaaS). The firm's U.S.-based asset management affiliate converted to Redi2 SaaS in 2008.

Given increased compliance and business demands on the part of financial services firms to enhance fee billing processing, Redi2 is well positioned to extend its market presence. According to an August 2008 TowerGroup report, "TowerGroup expects Redi2 to continue to capture market share as it has defined itself as an expert provider of revenue management solutions."

Redi2 is gaining market share by converting clients from proprietary and other vendor products across industry segments, including institutional and private wealth asset management firms as well as managed accounts sponsors, broker/dealers, retirement service providers and TAMPs (turnkey asset management programs) for registered investment advisors.

"Despite the market slowdown, we continue to see steady growth as the industry seeks best-in-class software to process fees accurately and more cost-efficiently," says Seth Johnson, CEO of Redi2 and co-chair of Money Management Institute's Billing Standards Sub-committee. "Customers know they can rely on our deep expertise and unsurpassed service levels to meet their fee processing needs."

For more information, email info@redi2.com or call +1 (617)830-3157.

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