A global custodian and fund administrator based in Paris has chosen Quartal Financial Solutions and its fee management solution Quartal FEE MANAGER. Europe's leading solution provider for fee and commission management took part in an intensive and comprehensive evaluation process of all the system producers and has gained its first French customer based in Paris.
Quartal Financial Solutions (France) SAS has won its first large customer. The Securities Services Division of this international financial service provider focuses primarily on the pro-vision of custodian and fund administration services and is one of the three largest European custodian banks and has more than € 450 billion of assets under administration. In future, the Quartal FEE MANAGER will be used by the investment service provider as a centralized platform for fee billing. Its main reasons for choosing Quartal Financial Solutions as its pro-vider were Quartal’s years of fee management experience, and its Luxembourg subsidiary company’s positive experience of working with Quartal, a solution based on state-of-the-art technology that can meet current and future requirements reliably and efficiently. The most important demands on the new system, which will settle account custody and administrative service fees, are the ability to integrate smoothly into the existing environment through open interfaces and a flexible mapping of all fee models in the bank.
Thierry Zuppinger, CEO of Quartal Financial Solutions, explains: "We're very happy that our subsidiary company in Paris has managed to gain such a renowned customer. By implementing Quartal FEE MANAGER, this customer will be able to benefit considerably from precise and efficient fee invoicing processes and significantly reduce the cost and process risk thanks to the high level of automation in Quartal FEE MANAGER. We look forward to the bank using Quartal FEE MANAGER throughout branches in Paris and Luxembourg in future."