Bisys has sealed the deal with another fund firm, this time Key Asset Management.

Key, which has been using Bisys primarily for fund accounting and administration services, will adopt its transfer agency on the first of the year. BFDS has been providing TA for Key.

"Consolidating our service providers will enable us to deliver seamless service to our financial intermediaries and their clients," said Kathy Dennis, senior managing director of Key Asset Management.

Bisys has been actively marketing its total package service.

"That's really our value-added, the one-stop shopping where we provide all services to our clients, so we will often talk to existing clients and prospects about the total package," said Bill Tomko, president of Bisys Investment Services group.

About 70% of Bisys clients already use the full package of service, and Tomko sees that trend continuing.

"We clearly see that there's a propensity to outsource in the mutual fund business, so we see outsourcing picking up," he said. "The outsourcing business is going to continue to grow and expand as firms stick to their core competency."

Does he see a lot of companies turn to outsourcing in preparation for a potential sale?

"That has not been a driver, although clearly, we've seen seen some of that," he said. 

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