Multifonds Advantage

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Supporting new growth and operating efficiencies in Asia

Supporting new growth and operating efficiencies in Asia

To support rapid growth in its fund services, Standard Chartered Bank (SCB) needed a flexible, scalable infrastructure.

"From a number of systems, the Multifonds Global Accounting product ranked best for functionality, affordability and technological fit," explains Alastair Pow, SCB's Global Head of Funds Services.

Standard Chartered Bank uses Multifonds to offer accounting and valuation services for the funds, insurance and asset management industry as well as government and quasi-governmental institutions in ten major Asian economies - China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, Taiwan, Thailand and Vietnam.

Multifonds has been pivotal in helping the bank achieve its expansion plans.

"Without the intelligent and modular architecture to support our increased product and asset range, we would never have been able to achieve such significant increases in coverage and efficiency. It has positioned us well to handle our growing market share and any challenges that may arise."

Multifonds is delivering other benefits too. Operations have been significantly improved through the standardization of core processing within and across the ten markets. Also, some products are used concurrently in the ten locations, each of which has its own legal, functional and operational requirements, providing the economies of scale of a common solution.