Sydney – DST International (DSTi), the leader in business solutions for the
investment management industry today announced that integrated financial service group Suncorp, with over AUD$11 billion funds under management, has expanded its HiPortfolio platform to include the modules for Cash Import and Export procedures. Suncorp will be using the HiPortfolio IDX Money Market Transaction Import module, the IDX Cash Transaction Import module and the Off-Market Transaction Import module to import the cash movements associated with the Bank’s wealth management products and futures transactions.
Suncorp has been a user of the DSTi flagship HiPortfolio solution for portfolio administration for 15 years for its wealth management arm. The company has also been an integral member of the DSTi Advanced Users Group in which DSTi provides a co-operative funding scheme for the ongoing development of Australian-based solutions for its HiPortfolio suite and additional product range.
Suncorp’s Investment Operations Manager Michael Nightingale said the group had come to rely on the functionality of HiPortfolio over the years.
"The increased use of HiPortfolio in our wealth management administration platforms has produced outstanding results for us already," Mr Nightingale said. "The addition of the new modules has resulted in two to three hours of reduced processing time for the management of our capital and money market transactions on a daily basis."
"This is another example of the success of the functionality, reliability and modularity of the HiPortfolio platform," outlined DSTi’s Chief Executive Officer for Australia and New Zealand, Ian Mathieson.
"Clients can be secure in the knowledge that their investment in HiPortfolio will remain not only a long term business solution option, but it will also keep pace with the changing requirements and advances for both financial services business and technology," he added
Suncorp-Metway Ltd is one of Australia's top 30 companies and is Queensland's biggest corporation with a market value of around AUD$7 billion. The Suncorp Group is Australia's 6th largest bank and 3rd largest general insurance group.