PRZOOM - /newswire/ -
Redwood Shores, CA, United States, 2015/07/28 - Leading global transfer agent replaces legacy system to accelerate time-to-market and boost operational efficiencies - Oracle.com. NYSE, NASDAQ: ORCL
Maitland, a global independent third-party fund administrator, has selected Oracle FLEXCUBE Investor Servicing to support the expansion of its global transfer agency services. The decision reflects the growing importance of transfer agency services in overall fund administration service.
The move is designed to enable Maitland to support its entire value chain of diverse investment products and funds including long-only funds, retirement and unit-linked products, hedge funds, and alternatives on a single application that is optimized for global distribution of investment products.
Maitland also selected Oracle FLEXCUBE Investor Servicing to standardize and consolidate its transfer agency services across product lines, global markets and customer segments to improve operational and cost efficiencies. Specifically, the application enables the delivery of transfer agency services in a hub and spoke model, and deliver significant levels of automation and standardization.
“We view transfer agency services as a core part of Maitland’s overall offering, and we want to support our client’s distribution plans and their servicing of investors and intermediaries,” said Jim Clark, head of Transfer Agency services at Maitland. “The selection of Oracle FLEXCUBE Investor Servicing is in line with Maitland’s practice of integrating best-of-breed applications and technology for our clients’ benefit. As we expand internationally, Oracle will help us to bring new global offerings to market faster whether in Africa, the USA or the UK/Europe.”
Oracle FLEXCUBE Investor Servicing is designed to enable Maitland to deliver true cross-border transfer agency capabilities for a broad range of investment products, covering collective investment schemes, tax wrappers, retirement products and alternatives. The application also enables Maitland to support multi-currencies, multi-domiciles and multi-lingual servicing across its entire services portfolio.
“Maitland is a leading example of how global transfer agencies are modernizing their operational infrastructure to become more agile, flexible and customer-centric. Oracle FLEXCUBE Investor Servicing plays an integral role in helping administrators like Maitland achieve these goals while seeking to expand into new regional market segments,” said Chet Kamat, Senior Vice President, Banking Products at Oracle.
“Oracle FLEXCUBE Investor Servicing is an ideal solution for customers in areas such as South Africa, where we currently service over 40 percent of assets under management registered by South African Collective Investment Schemes,” Kamat said. With the addition of Maitland and its South African clients, we service a large share of this market segment.
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