Microgen (LSE: MCGN) and Nomura Research Institute, Ltd. (NRI, TYO: 4307), a leading provider of consulting services and system solutions, today announced that they have signed a strategic alliance for the sale and implementation of Microgen products in the Japanese market.
NRI will be the exclusive partner in Japan for the Microgen Accounting Hub and Microgen Aptitude, the high-performance enterprise application development platform.
Microgen products are used in North America, Europe and Asia Pacific to effectively deliver accounting and liquidity solutions to over 15 leading global financial institutions. This strategic partnership allows firms in Japan to better align finance and risk processes during the transition to Basel III, Solvency II and IFRS over the coming years.
Microgen will support NRI during the implementation of the Microgen Accounting Hub and Microgen Aptitude, while NRI delivers local language communication and configuration to Japanese clients.
"The Microgen Accounting Hub and Microgen Aptitude enable financial institutions to manage their accounting at the most granular trade, contract or client account balance level. Users of the Microgen products achieve greater transparency from their reported financial statements back to the originating banking systems across very large volumes of transactions," stated Elizabeth Sipiere, Managing Director for EMEA-Asia Pac at Microgen. "As we have seen in the rest of the world, the move to IFRS, while accommodating Basel III and an array of other regulatory changes, can be challenging for large banks. Microgen is delighted to be working with NRI to make these projects simpler and faster for Japanese financial institutions using both local knowledge of the market from NRI and previous experience of the application of these regulations abroad from Microgen."
"Microgen has a wealth of expertise in implementing solutions in large financial institutions. Through this partnership, we will incorporate Microgen's solutions into NRI's strategic management consulting processes for Japanese financial Institutions in the areas of accounting," stated Yasuki Okai, Corporate Vice President, Deputy Division Manager of the Financial Technology Solution Divission at NRI. "The integration with NRI's established compliance and regulatory risk management consulting practice and data management service yields a comprehensive and global framework to fill an obvious gap in this market. Japanese clients will benefit from Microgen's highly user-friendly GUI interface and the solutions' easy customization capabilities, allowing firms to more efficiently make adjustments to comply with future regulatory changes."