Investment Bank Implements Client-Data-Management App

Investment bank Sandler O'Neill & Partners LP will implement customer-relationship-management software from LexisNexis Interface Software to create a centralized management process for the bank's client data.

The InterAction system will replace a contact database system developed in-house by the bank. The old system was not integrated with "islands" of customer data that have grown up throughout the company, including information in investment professionals' Lotus Notes address books, on their Blackberry handheld devices, and in other applications such as BlueMatrix Inc.'s investment research software.

The InterAction system will allow the investment firm to provide the right amounts of information to users "without bombarding or overwhelming them," Wilfredo Torres, managing director of IT at Sandler O'Neill & Partners, said in a statement.

By limiting access to restricted information to authorized users, the new system will also help the investment bank comply with regulations issued by the National Association of Securities Dealers aimed at separating research and investment banking activities at financial-services companies.

LexisNexis acquired Interface Software Inc. and its InterAction product in December.