DST International says PT Bank Danamon Indonesia Tbk (Danamon) has gone live with HiPortfolio/2, DSTi’s back office solution, to support its custodian administration services to external fund managers.
“In the process of entering the fast growing custody business in Indonesia, we immediately felt the need to employ a system that would reliably handle both the high portfolio management and the fund accounting,” says Oliver Mambu, Danamon’s vice president, financial institution division. “Support from highly professional people was also taken into serious consideration. Due to the attractiveness of custodian business in Indonesia, our decision to go live with HiPortfolio has proven to be in the right track to becoming the custodian bank of choice. Within relatively short period of time after the launching of our custodian department, Bank Danamon has put itself among the top of the most active custodians in Indonesia with high reliability.”
Lena Tay, DSTi’s South Asian general manager, added: “We are delighted to have Danamon as one of our esteemed clients on our flagship product, HiPortfolio. Danamon’s selection of HiPortfolio further strengthens DSTi’s position as the leading solution provider in the investment management industry in Indonesia. With HiPortfolio’s proven solution and DSTi’s experience, DSTi assisted Danamon to put in place an infrastructure that will enable Danamon to continue to grow its custody business quickly.”