Miles Software, a technology specialist in the wealth, asset management, trust and custody space, today announced that Land Bank of the Philippines, one of the top 5 banks in the Philippines, has gone live with Money Ware Custody Solution.
Land Bank of the Philippines launched its custody operations in the country recently. This license has enabled the bank to establish a fully-equipped custodian service, offering tailored services for a wide spectrum of financial activities with a comprehensive suite of products, services and tools.
Ms. Josephine G. Cervero, Senior Vice President and Trust Officer, Land Bank of Philippines - Trust Banking Group (LANDBANK -TBG) adds, "Being one of the top five banks in the country, it is extremely important to cater to our customer experience by providing a unique value proposition. We required a solution that is robust, scalable, flexible and future-ready architecture as well as powerful functionalities such as safekeeping and reporting of all transactions to clients and their end customers. It is indeed a milestone for LANDBANK - TBG to be accredited by the Bangko Sentral ng Pilipinas to offer 3rd party security custody and registry services. LANDBANK -TBG aims to support regulatory requirements for capital development through the custody of marketable or tradable securities.
"The changing regulatory framework and the complex custody business framework requires the bank to meet global standards. MoneyWare Custody is a proven solution with high scalability and flexibility. We are sure with this deployment, the bank is well poised to leverage its existing investments in technology," said Milan Ganatra, CEO Miles Software.
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