Standard Chartered Bank has implemented IGEFI Group Srl’s (IGEFI) MultiFonds Fund Accounting platform in 10 market service centres throughout Asia.
An agreement between Standard Chartered and IGEFI was signed in 2007 to implement the MultiFonds Fund Accounting platform as the software solution for Standard Chartereds regional accounting service targeted at the funds and asset management communities.
Standard Chartered Banks deployment of the MultiFonds accounting platform is an integral component of the Banks Funds Services strategy to facilitate consistency and standardisation of core processing and deliverables within and across multiple markets without forgoing the agility and capacity to adapt to individual market and group reporting requirements.
MultiFonds is a multi-currency, multi-language, multi-jurisdictional system that operates on a real-time basis. The system makes extensive use of user-definable parameters, providing clients with unlimited flexibility in supporting a wide variety of products and country-specific requirements. With user-definable tables and parameters, each client configures MultiFonds to comply with their specific processing requirements.
“The capabilities of the MultiFonds platform is very much aligned with our business strategy. We believe these capabilities, combined with our local market presence and knowledge make a compelling proposition. We expect that asset managers and/or institutional investors looking for a consistent single and multi market approach to investment accounting for their portfolios will be attracted by this development,” says Alastair Pow, global product manager, Fund Services for Standard Chartered Bank.
“Working together with SCB will give us the opportunity to showcase the comprehensiveness of the MultiFonds solution. This contract will further reinforce the position of IGEFI in Asia and the global market place of fund administration,” says Bertil Rouveure, CEO, IGEFI.
“This prestigious win further strengthens our commitment to grow our business in the fund administration and asset management industry globally,” adds Jesper Steiness, head of Business Development Europe & Asia.