Princeton Financial Systems, a solution provider to the global investment industry, today announced it has launched an enhanced version of its powerful industry leading MIG21 investment compliance system. MIG21 version 7.2 expands on the functionality of the previous 7.1 version with several new features that have increased scalability and performance optimization.
MIG21 is the compliance system of choice for seven of the world's top 10 global custodians, as well as many asset and fund managers, insurance companies and hedge funds around the world. Advanced risk monitoring is achieved through automated pre- and post trade investment compliance functionality, along with the improved administration of regulatory, prospectus and internal investment guidelines.
Version 7.2 enhances the system's ability to support higher volumes as a result of the improved scalability and performance which is particularly significant in a cloud environment. Princeton Financial Systems has over 15 years of software hosting experience and offers Software-as-a-Service (SaaS) via their eMIG21 solution, enabling clients to make even more efficient use of their resources. This service delivery model is expanded by Princeton's parent company State Street, who offers full compliance services delivered via both co-sourcing and complete business process outsourcing.
Also, version 7.2 includes improved overrides within MIG21 Data Manager to gain more control over data imports and the ability to start and execute several imports or class mappings simultaneously. Additional improvements allow more check-runs and online rule tests to occur concurrently.
"The investment industry continues to face the ongoing risks and challenges associated with staying current with rapidly changing industry and regulatory requirements along with the increased costs affiliated with being in compliance," said Jim Dobbie, Head of Product Management at Princeton Financial Systems. "The expanded functionality of the industry leading MIG21 platform with version 7.2 enables our clients to address these challenges while also providing improved overall performance, usability and cost."