JPMorgan Chase has commenced implementation of Milestone Group’s pControl fund processing platform in the UK as part of a global rollout plan. JPMorgan Chase will initially use pControl to automate complex pre and post-pricing validations and fund of-fund unit pricing for UK based clients. It will also use the software to support growth in a range of related fund processing functions as part of its fund manager outsourcing platform.
“We were impressed with Milestone Group’s understanding of this area of our business and their commitment to genuine innovation,” says Susan Ebenston, a Senior Vice President at JPMorgan Chase. “pControl is viewed as a strategic component of our overall delivery architecture.”
pControl enables JPM to automate and so give scalability to some complex aspects of it’s fund processing. pControl was identified as the best application to support growth in complex fund structures and JPMorgan Chase says they were attracted by the unique features of pControl and its ability to be deployed as a global solution.
“We are delighted to have the opportunity to work with a client of JPMorgan Chase’s standing on a global basis,” adds Geoff Hodge, the CEO of Milestone Group. “We see JPMorgan Chase’s use of pControl as a core platform component as confirmation of pControl’s ability to deliver scalability and efficiency to fund managers and major service providers administering an expanding spectrum and volume of fund structures.”