Frankfurt am Main, 08.07.2013: One of the world's largest investment banks went live with FSP Fee Management 1.0 (FFM). FFM is a solution for institutions selling financial products via third parties which therefore claim fees based on distribution agreements. FFM is a new product based on FSP (Framesoft Structured Products).The solution offers a wide range of features to support the processing and management of different types of fees. FFM covers the full fee relevant business process:
- Distributors, products and agreements setup
- Fee calculation and approval
- Booking of fees
- Statement generation
The application provides a wide range of features to support the processing and management of different types of fees:
- Upload of Prices, Positions, Balances, Reserves and Inventory Holdings
- Calculation of Trailer Fees with different calculation methods (Daily Accruing, Interval Rate, Average Price, Exotic, Balance * Price * Rate)
- Multiple evaluation and payment frequencies
- Balance upload via custody files or E-Mail request to distributors
- Processing of upfront fees
- Distributor management including agreement handling for master and supplement agreements as well as contact management
- Fee approval based on a full fee overview on product level including estimates
- Booking of fees
- Client statement generation and sending via E-Mail
- Web access and rich client access
- Reconciliation interfaces
- Workflow oriented business processes
The concept phase for FFM 1.1 has already begun, the go-live will take place in Q1/2014.