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Ecobank Asset Management licenses SunGard Asset Arena for investment accounting

28 January 2008  |  2083 views  |  0 Source: SunGard

SunGard today announced that ECOBANK Asset Management has selected SunGard's Asset Arena Investment Accounting solution to automate its entire back-office operations.

With total assets of $5.2 bn, the ECOBANK Group is the leading independent regional banking group in West and Central Africa. SunGard's Asset Arena Investment Accounting is a Web-based investment accounting platform that supports virtually all types of funds on a single, unified platform.

With a network of more than 430 branches and offices in 20 African countries, the ECOBANK Group is known as "the pan-African bank." To help boost its expansion, ECOBANK Asset Management has been looking for a best-of-breed, scalable investment accounting solution to automate its operations.

"We selected SunGard's Asset Arena because of its extensive functional coverage and ability to meet our business needs," commented Georges Kavege, managing director at ECOBANK Asset Management. "The solution was implemented on-site, over the space of a single month, with the help of SunGard's Asset Arena professional services team. We have been quick to realize the benefits of a robust, flexible and scalable solution that will help support the growth of our business."

Bernard Huré, managing director of SunGard's European institutional asset management business, commented: "ECOBANK is a recognized leader in the growing African banking industry, so we at SunGard are pleased to welcome them as a new customer. By providing enhanced functional capabilities on a single platform, Asset Arena will help ECOBANK streamline its back-office operations and help it improve its operational efficiency."

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