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MegaCustody(tm) from Vermeg Accredited after Custody System Benchmarking

B.I.S.S. Research, the exclusive research company offering a unique benchmarking of services and systems in the financial services sector, today announced that after an intensive examination during the B.I.S.S. benchmarking process, MegaCustody™, part of the Megara™ suite of modules has achieved the Custody System benchmark tests. These benchmarks were created by a panel of global custody experts, after a two year project, instigated by B.I.S.S. Research, with Vermeg being the first vendor to enter its custody system into this new benchmarking. The resulting report analysing MegaCustody’s functionality and Vermeg’s support capabilities is available free to financial services firms on request from the B.I.S.S. Research website;

Gary Wright, C.E.O., B.I.S.S. Research and creator of the B.I.S.S. business benchmarking concept said “The report is a comprehensive study of Vermeg and MegaCustody, which will be of great interest to people and organisations offering financial services globally, whether they are Global Custodians or their customers. Vermeg were able to demonstrate that in MegaCustody they have a world class custody system and outstanding customer support services. At a time when the financial markets are recovering from the global crisis and where investor’s expectations are increasing along with many new regulatory pressures, Vermeg have shown that it is a formidable software vendor, ready to provide state of the art custody solutions. Vermeg has to be congratulated for entering its system into this tough new benchmarking and emerging with flying colours to achieve the 2010 B.I.S.S. Accreditation for Custody.

Christian Cure, Vermeg, Business Development Director said “We have total confidence in our systems and technology to meet the demands of financial services firms. The benchmark tests carried out by B.I.S.S. Research were a thorough and demanding examination of MegaCustody. We are therefore delighted that this independent industry assessment has verified the high quality of our custody system. Gaining this Accreditation is not only very valuable for Vermeg but also we believe for our customers, in affirming their choice of system. The B.I.S.S. report enables financial services firms to view the results of the benchmarking and showcases our expertise, solutions and services and outlines our commitment to support global custody operations in the worlds markets with future proof technology to meet its needs”