i-flex signs up with S African investment firm

Bangalore, Sept 7: i-flex solutions, a leading technology solutions provider to the global financial services industry, today announced that South Africa's Old Mutual Investment Administrators (OMIA), a fully owned subsidiary of Old Mutual Group, has gone live on FLEXCUBE Investor Services for its fund administration and transfer agency operations.

OMIA is a third-party investment service administrator which provided investors a range of investment products from different fund houses and investment companies. The Old Mutual Group is the largest financial services company in South Africa and its parent company, Old Mutual plc, is an international financial services group listed on the London Stock Exchange, an i-flex release here said.

Investment houses in South Africa have faced complexity and high costs because they have used different software products to administer each of their lines of business - Unit Trusts, Life Endowment Products, Linked Investment Service Provider and their Offshore Fund business.

The design of FLEXCUBE Investor Services resolved these issues by automating the entire transfer agency function and enabling fund administrators and transfer agency service providers to effectively service fund and product providers as well as investors. FLEXCUBE Investor Services allowed fund administrators and distributors with operations in several countries to meet their registry and distribution requirements through its unique combination of multi-currency, multi-lingual, multi-entity and multi-instance functions. It enabled investment houses to design innovative products with either simple or complex fund structures and helped them stay ahead of competition, the release said.

UNI