DST International (DSTi) announced that integrated financial service group Suncorp, with over AUD$11 billion funds under management, has expanded its HiPortfolio platform to include the modules for Cash Import and Export procedures. Suncorp will be using the HiPortfolio IDX Money Market Transaction Import module, the IDX Cash Transaction Import modules and the Off-Market Transaction Import module to import the cash movements associated with the Bank’s wealth management products and futures transactions.
Suncorp has been a user of the DSTi flagship HiPortfolio solution for portfolio administration for 15 years for its wealth management arm. The company has also been an integral member of the DSTi Advanced Users Group in which DSTi provides a co-operative funding scheme for the ongoing development of Australian-based solutions for its HiPortfolio suite and additional product range.
Suncorp’s Investment Operations Manager Michael Nightingale said the group had come to rely on the functionality of HiPortfolio over the years. “The increased use of HiPortfolio in our wealth management administration platforms has produced outstanding results for us already,” Nightingale said. “The addition of the new modules has resulted in two to three hours of reduced processing time for the management of our capital and money market transactions on a daily basis.”