DST Systems
Encyclopedia
DST Systems Inc. is a software development firm that specializes in information processing and management, with the goal of improving efficiency, productivity, and customer service. DST was founded in 1969 as Data-Sys-Tance, a division of Kansas City Southern Industries
, and is currently headquartered near Kansas City Southern's headquarters on Quality Hill in Kansas City
, Missouri
.
DST Systems Inc. produces the AWD, or Automated Work Distributor, software package, which is a business process management solution. Its primary purpose is to increase back-office efficiency through workflow and imaging. It also helps to reduce paper in the office, moving businesses towards the paperless office
.
DST Systems, Inc. is headed by CEO Thomas McDonnell, President Steve Hooley, and CFO Kenneth Hager. Internationally, many of DST Systems products are sold by its subsidiary DST Global Solutions.
, Northern Trust
and US Bancorp Fund Services. DST Systems also does business, through a joint venture with State Street Corporation, as Boston Financial Data Services as well as International Financial Data Services in Canada, the United Kingdom and beyond.
of DST Systems that provides software services to the investment industry, financial services industry and banking and workflow industries. It is the global provider of many of DST Systems' products world wide, such as AWD. It is also the vendor for systems such as HiPortfolio, a fund accounting software application. DST Global Solutions has its headquarters in the London suburb of Surbiton
, United Kingdom
and 16 offices with over 1,100 staff and around 400 clients based in 45 countries.
The current chief executive officer
is Tom Abraham, who took the position in 2007 from Mike Winn.
Due to the distributed nature of DST Global Solutions, it competes with a number of companies in each local region, but very few competitors in all areas. For example Sungard
, SimCorp
, Linedata Services
are all global financial companies, but others, such as CRD and LatentZero have a limited presence outside of the United States and Europe. In Asia, DST competes with Polaris and Tata
.
Patent applications were made in 1999 for unique aspects of Vision, primarily the technical infrastructure that enables simultaneous presentation of data from DST's own system as well as data from external systems, so a financial intermediary could see account information from multiple institutions for a shareholder in a real-time environment. In 2007 DST was awarded a patent for Vision, US Patent No. 7,275,046: Simultaneous Access to Real-Time Financial Information.
In 2010, DST Vision began offering a premium version, called Vision Professional, at a low monthly cost to advisors. This premium version includes brokerage data from major clearing firms and expanded, customizable reports.
Kansas City Southern Industries
Kansas City Southern Industries is the former diversified parent company of the Kansas City Southern Railway, a Class I railroad headquartered in the Quality Hill neighborhood of Kansas City, Missouri, USA...
, and is currently headquartered near Kansas City Southern's headquarters on Quality Hill in Kansas City
Kansas City, Missouri
Kansas City, Missouri is the largest city in the U.S. state of Missouri and is the anchor city of the Kansas City Metropolitan Area, the second largest metropolitan area in Missouri. It encompasses in parts of Jackson, Clay, Cass, and Platte counties...
, Missouri
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
.
DST Systems Inc. produces the AWD, or Automated Work Distributor, software package, which is a business process management solution. Its primary purpose is to increase back-office efficiency through workflow and imaging. It also helps to reduce paper in the office, moving businesses towards the paperless office
Paperless office
A paperless office is a work environment in which the use of paper is eliminated or greatly reduced. This is done by converting documents and other papers into digital form. Proponents claim that "going paperless" can save money, boost productivity, save space, make documentation and information...
.
DST Systems, Inc. is headed by CEO Thomas McDonnell, President Steve Hooley, and CFO Kenneth Hager. Internationally, many of DST Systems products are sold by its subsidiary DST Global Solutions.
Competition
DST Systems main competition includes Envision Financial Systems, PFPC, SunGardSunGard
SunGard is a multinational company based in Wayne, Pennsylvania, which provides software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services division of Sun Oil Company, during a period of low crude oil...
, Northern Trust
Northern Trust
Northern Trust Corporation is an international financial services company headquartered in Chicago, Illinois, USA. It provides investment management, asset and fund administration, fiduciary and banking services through a network of 85 offices in 18 U.S. states and 12 international offices in North...
and US Bancorp Fund Services. DST Systems also does business, through a joint venture with State Street Corporation, as Boston Financial Data Services as well as International Financial Data Services in Canada, the United Kingdom and beyond.
DST Global Solutions
DST Global Solutions is a subsidiarySubsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
of DST Systems that provides software services to the investment industry, financial services industry and banking and workflow industries. It is the global provider of many of DST Systems' products world wide, such as AWD. It is also the vendor for systems such as HiPortfolio, a fund accounting software application. DST Global Solutions has its headquarters in the London suburb of Surbiton
Surbiton
Surbiton, a suburban area of London in the Royal Borough of Kingston upon Thames, is situated next to the River Thames, with a mixture of Art-Deco courts, more recent residential blocks and grand, spacious 19th century townhouses blending into a sea of semi-detached 20th century housing estates...
, United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
and 16 offices with over 1,100 staff and around 400 clients based in 45 countries.
The current chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
is Tom Abraham, who took the position in 2007 from Mike Winn.
Due to the distributed nature of DST Global Solutions, it competes with a number of companies in each local region, but very few competitors in all areas. For example Sungard
SunGard
SunGard is a multinational company based in Wayne, Pennsylvania, which provides software and services to education, financial services, and public sector organizations. It was formed in 1983, as a spin-off of the computer services division of Sun Oil Company, during a period of low crude oil...
, SimCorp
SimCorp
SimCorp is a Danish company that provides specialised software and financial expertise for the investment management industry. Its clients include banks and central banks, mortgage lenders, portfolio/investment managers, insurance companies, pension funds, mutual funds, securities and commodities...
, Linedata Services
Linedata Services
Linedata is a company targeting customers in the Investment Management and Credit industries. In 2006, Linedata’s 15 financial software applications were being used by approximately 1,000 institutions across five continents...
are all global financial companies, but others, such as CRD and LatentZero have a limited presence outside of the United States and Europe. In Asia, DST competes with Polaris and Tata
Tata Group
Tata Group is an Indian multinational conglomerate company headquartered in Mumbai, Maharashtra, India. Tata Group is one of the largest companies in India by market capitalization and revenue. It has interests in communications and information technology, engineering, materials, services, energy,...
.
DST Vision
DST Vision is a web site that helps financial intermediaries manage the myriad tasks associated with portfolio aggregation, management and reporting on their client accounts. It provides advisors no-cost access to client account information from more than 370 mutual fund, variable annuity and REIT companies at a single web site. Launched in 1998, today it is used by more than 100,000 advisors. Vision is integrated with TA2000, DST's record-keeping platform used by many mutual fund, insurance and REIT companies. An estimated 80% of mutual fund transactions worldwide are processed via DST's record keeping systems.Patent applications were made in 1999 for unique aspects of Vision, primarily the technical infrastructure that enables simultaneous presentation of data from DST's own system as well as data from external systems, so a financial intermediary could see account information from multiple institutions for a shareholder in a real-time environment. In 2007 DST was awarded a patent for Vision, US Patent No. 7,275,046: Simultaneous Access to Real-Time Financial Information.
In 2010, DST Vision began offering a premium version, called Vision Professional, at a low monthly cost to advisors. This premium version includes brokerage data from major clearing firms and expanded, customizable reports.
Further reading
- Huo, Jeremy. Asia Asset Management, May 2008
- Lepsch, Rhonda L. "The Changing landscape of fund administration technology", Asian Investor, November 2007
- Abraham, Tom. "Relieving the Pain Points." Global Custodian, June 2008
External links
- DST Systems Inc.
- DST Global Solutions
- DST Technologies - Automated Work Distributor (AWD)
- DST Health Solutions
- Boston Financial Data Services
- International Financial Data Services
- State Street Corporation
- DST Worldwide Services
- DST Vision
- DST Vision Patent
- Valiante, Dave. "Australian Unity Investments Implements DSTi’s Front and Middle Office Solutions AUI using DSTi solutions to gain efficiency", Wall Street & Technology, June 23, 2008