Standard Chartered Bank Selects Equitrak(tm) As New Transfer Agent Solution

< BACK TO BANKING starstarstarstarstar   Business - Banking Press Release
14th January 2010, 09:30am - Views: 1408





Business Banking Vitech Systems Group, Inc. 1 image

Business Banking Vitech Systems Group, Inc. 2 image










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

across the globe. For more information about Equitrak visit www.vitechinc.com

or e-mail sales@vitechinc.com.


    SOURCE: Vitech Systems Group, Inc.


    CONTACT: Jamie Vitiello, 

Business Banking Vitech Systems Group, Inc. 3 image

             Vice President, 

             +1-646-344-5584,

             sales@vitechinc.com



To view this and other AsiaNet releases please visit http://www.asianetnews.net






news articles logo NEWS ARTICLES
Contact News Articles |Remove this article