POMPANO BEACH, Fla. and NEW YORK, Feb. 19, 2008 (PRIME NEWSWIRE) -- Blue Frog Solutions, a leading provider of Life & Annuity Order Management and Compliance Solutions for the life insurance and annuities industry, and National Compliance Services, Inc. (NCS), a leading provider of reliable, efficient and reasonably-priced compliance and regulatory products and services in the securities industry, today announced that they have formed a strategic alliance.
Through their alliance, NCS will work with Blue Frog to provide additional value-added services to their clients in response to Financial Industry Regulatory Authority (FINRA) Rule 2821 regarding deferred variable annuities and the business rules and business rules support and interpretative characteristics as they relate to the straight-through processing of these products.
"Blue Frog Solutions is delighted to work with NCS to support our shared clients and partners in this new business alliance," said Brad Levine, Blue Frog's president and founder. "When NCS did its due diligence on order entry providers, it found Blue Frog's technology to be extremely flexible and the firm to be a leader in the industry."
"NCS is extremely excited about the opportunity to work with Blue Frog Solutions to offer broker-dealers a state-of-the-art technology solution for deferred variable annuity order and compliance management," said Chad Jones, NCS's National Sales Manager. "Blue Frog's technology is 'user friendly' and consistent with National Compliance Services' longstanding commitment to provide our clients with cost-effective compliance systems and tools."
"We feel very strongly that Blue Frog's state-of-the-art technology will be of enormous value to our broker-dealer clients who are now faced with new NASD/FINRA Rule 2821 regarding compliance and supervisory responsibilities for deferred variable annuities scheduled to take effect later this year," said Erik Aschenbrenner, Senior Managing Director of National Compliance Services' Broker-Dealer Services Division.
About Blue Frog Solutions:
Blue Frog Solutions (www.bluefrogsolutions.com), based in Pompano Beach, Florida, is a leading technology solutions provider and business processing outsourcing (BPO) firm that focuses on the life, annuities and long-term care market. Blue Frog automates both front and back end business processes between carriers and distributors with a focus on compliance to create automated business process efficiencies. Blue Frog's solutions are based on the firm's flagship ADMServer Framework software suite. As one of the largest providers of ACORD-based transactions and DTCC solutions, Blue Frog currently provides ADMServer solutions to more than 60 percent of the top 40 life and annuity companies and many of the largest distributors in the U.S.
The Blue Frog Solutions logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=707
About NCS:
National Compliance Services, Inc. (NCS), (www.ncsonline.com), based in Delray Beach, Florida, has been a leader in the compliance and regulatory services industry since 1994. It provides reliable, efficient and reasonably-priced products and services for investment advisers, broker-dealers, and other financial industry participants. NCS offers a wide range of products and provides its personalized services to more than 6,000 clients, both domestically and internationally. Its consultants include former senior regulators, senior compliance officers, regulatory examiners, accountants, attorneys and other individuals who have extensive hands-on experience in the securities industry.