Walnut Creek, California-based FinancialOxygen is launching a new Internet-based platform designed for independent financial institutuions to offer commercial clients mutual funds from three fund families. Those families are Federated Investors, JPMogan Chase, and Nations Funds.

It is a turnkey product offered through FinancialOxygen's trading center, BankOxygen. Financial institutions can privately label the service.

"Offering mutual funds on a private-label basis benefits both providers looking to distribute more of their products, as well as independent financial institutions seeking to provide customers with an expanded set of investment options," contended Robert Oxenburgh, ceo of FinancialOxygen. "At the same time, providing access to mutual funds on a wholesale basis gives independent financial institutions another attractive investment alternative, particularly given the falling rate on Fed Funds."

The organization intends to offer more fund families in the future. FinancialOxygen's clients can also purchase mutual funds directly from the these three providers for the purposes of expediating daily cash management and balance sheet activities.

"BankOxygen has a direct pipeline into the target market of independent financial institutions we are trying to reach. By offering our products on a private-label basis, we can provide these financial institutions with an impressive array of choice backed by a long history of serving retail customers," added Tim Pillion, senior vice president and national sales manager of Federated Investors' bank trust department and financial institutions group. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE