Financial institutions' need to simplify technology at both a business and IT level has never been greater.
This is according to Microgen, a provider of financial software, solutions and consultancy services. The company says financial institutions are continuing to extend their reach into new markets, trading across multiple entities, currencies, locations and products. This means the demands placed on the operations process become more onerous.
In line with this, says Microgen, Absa Multi Management, which offers clients investment products, has deployed Microgen Interlink as an operational platform to allow it to effectively report on and utilise its clients' investment portfolios.
According to the company, Microgen Interlink delivers a product design and management system for fund managers, from multi-managers to fund of funds providers, and organisations dealing with internal asset allocation processes.
This platform's core system allows for the systematic allocation of cash and unit transactions through user-defined portfolio structures, and subsequent valuation and pricing of these unit holdings for both clients and internal products, says Microgen.
Microgen Interlink will support Absa's focus on services that reinforce risk management and governance, Microgen says. “With this offering, Absa Multi Management will be able to deploy investment strategies and automate the allocation of cash and unit transactions,” the company adds.
GM of Microgen SA, Chris Myrtle, says: “The South African investment market is intensely competitive, meaning financial players demand a robust technology platform to meet their needs.”
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