Transfer agency, the next generation, creeps ever closer as month by month inadequate legacy systems are consigned to the dustbin of financial technology history. Independent third-party fund administrator Maitland has made its own claim to be prominent at the industry's cutting edge with its decision to replace its existing technology with Oracle FLEXCUBE Investor Servicing.
The decision reflects the growing importance of transfer agency services in the overall fund administration service. The move will 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 – from a single solution that is optimised for global distribution of investment products.
“We view transfer agency services as a core part of Maitland’s overall offering, we want to support our client’s distribution plans, and their servicing of their investors and intermediaries”, said Jim Clark, head of Transfer Agency services at Maitland. “To be global you need a platform that people outside South Africa know and trust, and Oracle is clearly the provider best positioned to support our international ambitions.”
“We can help clients sell more of their own products. Next generation transfer agency can help boost distribution by improving the quality of service available to end-investors and further enhancing their overall experience. The selection of Oracle FLEXCUBE Investor Servicing is in line with Maitland’s practice of integrating best-of-breed technology for our clients’ benefit. As we expand internationally, Oracle will help us to bring new global offerings to market faster – be this in Africa, the USA or the UK/Europe.”
