Log in Free trial  U.S. Trust Enhances Systems with 'Magic.'
(Computerized Application Development Software) (Management
Strategies)  Article excerpt  WILL THE FUTURE of applications
development look like magic?  Executives at U.S. Trust Corp. in
New York City would have to say yes.  The bank, with $227
billion in assets under administration, specializes in money
management, private banking, and securities services. Whe faced
with the task of developing a mutual fund accounting system, it
decided to experiment with a new application development tool
called Magic Software.  "Mutual fund accounting is a highly
specialized, exacting business," said Bernard Edelstein, a
senior vice president and director of computer services at U.S
Trust. "We were faced with a situation where we needed to create
our own system because typical porftolio systems lacke rigorous
accounting components and simply didn't fit our needs."  Using
Magic's design tools, the mutual fund accounting system was up
and running within six months.