StatPro Group plc, a leading provider of portfolio analysis and asset valuation services for the global asset management industry, today announces that the South African custodian division of Nedbank has committed to the new StatPro Seven analytics platform.
Nedbank, the fourth largest bank in South Africa, has signed for StatPro Seven Performance, Attribution, Fixed Income, Compliance and Analytics Reporting modules plus Index Data services.
"This deal stemmed from Nedbank's strategy of providing in depth analytical data to its clients, backed up by a scalable solution capable of managing the anticipated growth. StatPro already has an excellent reputation in the region and a thorough understanding of the local market requirements," said Robin Kemper, CEO, StatPro South Africa. "This agreement takes us one step closer towards our aim of creating a single analytics data standard in South Africa."
Deployment of the system will begin in October 2010.
Louise Currie, General Manager at Nedbank: "This implementation will provide us with full performance, attribution and compliance functionality that we can manage and pass on to our clients in a scalable manner, whilst ensuring that industry standards are not only met but exceeded. In keeping with the requirements of the local market, we are keen to implement StatPro Portfolio Compliance - recognised as the market leader in South Africa."