Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that Malta-based financial services provider, GlobalCapital Financial Management Ltd, which forms part of the GlobalCapital plc group, has renewed its contract for Linedata Icon, a market leading fund accounting platform and part of Linedata's comprehensive solution for institutional investment managers and third party administrators.
GlobalCapital plc is a leading financial services provider, operating in insurance, investment and property services. Its subsidiaries have been in the market for over 40 years. The company first ventured into fund administration in 2007 and undertook a thorough selection process to find a software system that best fit and supported its needs. Linedata Icon was chosen based on its match to GlobalCapital's selection criteria and requirement for strong vendor credentials. The flexible configuration and high level of automation within Linedata Icon allows more of GlobalCapital's business operations and processes to be handled within the system, providing a very efficient workflow.
James Blake, Chief Operating Officer for GlobalCapital, commented, "Most firms have been affected by the economic downturn and have had to revisit their processes and operations resulting in more robust and efficient outfits. Despite this, the Maltese financial services industry continues to grow in strength. It has been able to capitalize on its attractive fiscal environment within the EU, a robust regulatory environment and its well-trained, motivated workforce. New opportunities have been created which GlobalCapital is seeking to benefit from. Looking forward, we are confident that this experience will place firms like ourselves in a more competitive position. This is further strengthened by Linedata's flexible systems, its approach to supporting our business model and the support offered by Linedata in an increasingly complex environment, both in terms of regulation and portfolio diversification.
"Our experience with Linedata has been very positive. Linedata continues to provide great hands on support and has helped our staff gain the knowledge and expertise to optimize the processes within Linedata Icon. Today, our staff has sufficient knowledge to benefit from the efficiencies that Linedata Icon can provide, and for these reasons, when the time came to renew our contract, we saw ne saw no reason to consider an alternative provider."
Adrian Andrews, Managing Director for Linedata Northern Europe, said, "I am delighted that GlobalCapital has continued its commitment to Linedata Icon. We work in partnership with our clients and continually invest in our software solutions and services to ensure that we provide the best functionality today and in the future. Linedata Icon forms part of Linedata's back office platform, providing a complete, scalable solution for both administrators and asset management firms around the world. We have an increasing number of clients in Malta and other financial jurisdictions and we are proud to support these centers with solutions that meet the challenges of managing greater complexity in regulation and diversification of portfolios."