HSBC is to replace multiple transfer agency and investor services systems across Asia and the Middle East with a single platform supplied by Indian core banking vendor i-flex.
The bank is to implement i-flex's Flexcube system with its Investor Services modules to streamline it transfer agency automation across the region. The multi-currency, multi-lingual i-flex system will replace multiple legacy systems in a co-ordinated effort to bring about operational and cost efficiencies and higher customer service levels.
Kishore Kapoor, CEO, i-flex solutions says the deal offers the vendor an opportunity to showcase the Web-enabled platform, which promises fully automated processes and work flow engines tailored to suit the requirements of the fund management industry.
He adds: "This prestigious win further strengthens our commitment to grow our business in the global unit-trust and fund management solutions industry."
In August last year, HSBC signed a deal with i-flex corebanking competitor Temenos to re-engineer the bank's existing Universal banking platform using the Swiss vendor's technology as a core component.