MEDIA RELEASE PR37869
Standard Chartered Bank Selects Equitrak(TM) as New Transfer Agent Solution
NEW YORK, Jan. 14 /PRNewswire-AsiaNet/ --
Vitech Systems Group, a leading provider of fund administration software,
announced today that Standard Chartered Bank (SCB) has selected Equitrak as a new
Transfer Agency solution. Standard Chartered will use Equitrak for investor servicing
activities associated with its multi-market Fund Services business in Asia. SCB
presently uses Equitrak for its regional private equity and hedge fund administration
offering. Following this success, SCB has decided to extend the use of the Equitrak
application to support traditional markets commencing with Indonesia and Vietnam.
"We selected Equitrak based on the product's inherent efficient and
flexible features. Equitrak enables us to efficiently undertake Transfer
Agency, Private Equity and Hedge administration on a single platform across
multiple markets -- a truly one stop integrated solution that allows us to
enhance our client experience," said Alastair Pow, Global Product Head, Fund
Services at SCB. "We have been encouraged by Vitech's willingness to support
our rapidly growing business model across our unique markets with multiple
language requirements."
Equitrak will be used by SCB for both its traditional and alternative
clients covering shareholder registration, subscription and redemption
processing, valuation maintenance, compliance monitoring, reporting and more
all in a very high volume environment.
"We are so pleased that Standard Chartered Bank has chosen Equitrak as
its new Transfer Agency Solution. This is a great endorsement from a premier
organization. Standard Chartered is a great business partner and we look
forward to a very successful implementation," said Frank Vitiello, President
of Vitech.
Equitrak is a multilingual, multi-GAAP, multi-currency, highly scalable
administration solution. Equitrak clients around the world use the software
for a diverse array of fund administration, partnership accounting and
investment management needs.
About Standard Chartered Bank
Standard Chartered PLC ranks among the top 25 companies in the FTSE-100
by market capitalisation. The London-headquartered Group has operated for
over 150 years in some of the world's most dynamic markets including Asia,
Africa and the Middle East. SCB employs more than 70,000 people. For more
About Vitech Systems Group, Inc.
Vitech Systems Group, Inc. is a leading provider of software and services
to the alternative asset community. The company's clients include fund
sponsors, banks, institutional investors and third party administrators
or e-mail sales@vitechinc.com.
SOURCE: Vitech Systems Group, Inc.
CONTACT: Jamie Vitiello,
Vice President,
+1-646-344-5584,
sales@vitechinc.com
NEWS 
