China Life Pension Co. Ltd (CLPC), one of the largest pension companies in China, has implemented DST Global Solutions asset servicing solution HiPortfolio.
Utilizing DSTs solution, CLPC will be able to integrate the accounting and valuation process between the custodian bank and the finance practice, reducing human effort, audit risk and potential reconciliation errors.
Yong Wang, head of IT at CLPC, says the firm chose HiPortfolio after a long and thorough vendor selection process.
We were looking for improvements in portfolio management, automation of reporting and more efficient handling of bulk transactions, he says. HiPortfolio has helped various divisions work together more smoothly and therefore more cost-effectively and we can prove yet again to our customers that we offer best industry practice across our organization.
We believe that this joint success will further enhance CLPCs leadership position in China, says Philip Hogan, managing director, Asia Pacific, for DST Global Solutions. Pension companies in China are under increasing pressure to improve operational efficiency and increase margins. We are delighted that HiPortfolio is the solution of choice for the processing and administration of corporate annuity and pension portfolios.
(CG)