FinSwitch introduces new Web services

FinSwitch, which was set up nearly 10 years ago specifically to drive the design, development, implementation and administration of an electronic trading bureau for the trading of unit trust funds in South Africa, has launched new Web services through the FinSwitch2 platform.

The new Web services allow for secure data exchanges between linked investment service providers (LISPs) and unit trust management companies (ManCos), with the added benefit of high levels of process automation.

Allan Gray, a long-time user of the FinSwitch platform, is the first company to use these services as part of its new order management system. Allan Gray Investment Services, the LISP, and Allan Gray Management Company, the ManCo, now process collective investment orders via FinSwitch, using the new Web services provided by the FinSwitch2 platform.

Leading technology solutions specialist Digiata Technology Services developed the order management system with Allan Gray, to help streamline the flow of data between ManCos and LISPs.

According to Tristan Wood, Allan Gray Investor Services Domain Owner for Core Processing: “The implementation of the order management system has greatly reduced our business risk and has also resulted in a marked improvement in our operational efficiency. The involvement of Digiata Technology Services in the development of FinSwitch2 helped ensure a seamless systems integration between the order management system and FinSwitch2.”

Johan Kühn, Digiata director, said: ”We have been a technology partner of Allan Gray for a number of years now and it is great to be involved with an organisation which embraces technological improvements to their systems as a big part of their business culture. This implementation was done with a minimum of fuss, largely due to FinSwitch2 offering simple and easy-to-use systems integration.”

Digiata Digiata specialises in software development and business process automation services. Digiata operates mainly in the financial services industry across areas like asset management, retail investment, custody, employee benefits and insurance. For further information, please visit www.digiata.com. FinSwitch FinSwitch provides a central platform for the sharing and switching of collective investment industry information such as prices, total expense ratios (TERs), transaction instructions, transaction confirmations, income distributions and retail institutional splits. For further information, please visit www.finswitch.com. Allan Gray Established in 1974, Allan Gray is the largest privately owned investment management firm in southern Africa. Allan Gray's purpose is to help investors build wealth over the long-term. The company seeks to earn the trust of its clients by providing superior long-term investment performance, outstanding client service and holding itself to the highest ethical standards. Clients include individuals, retirement funds, insurers, trusts, companies and foundations investing in southern Africa. For further information, please visit www.allangray.co.za.

Editoral contacts Digiata Technology Services Dawie de Klerk 082 800 7227 This e-mail address is being protected from spambots, you need JavaScript enabled to view it

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