MayBan Life, Malaysia, chooses Datacons MFund Suite.

Bangalore, India (May 19th, 2003) – Mayban Life Assurance Berhad, in Malaysia, has chosen Datacons’ MFund suite of products to address its end-to-end investment needs, from Fund Management, Dealing to Back office operations.

Mayban Life Assurance Berhad (Mayban Life) is the life insurance subsidiary of Maybank, the largest banking group in Malaysia. It has a unique position as the only insurance provider in Asia, which is fully dedicated to "Maybank Bankassurans".

Mayban Life manages over 50 funds, both investment linked as well as insurance funds. MFund suite will be deployed across 3 divisions namely Mayban Life Assurance, Mayban General Assurance and Mayban Takaful. MFund’s inbuilt flexibility makes it easily adaptable to meet the multifarious interfacing challenges in the insurance segment. MFund suite will be interfaced with the Central Bank (Bank Negara) reporting systems, external fund managers as well as other systems running within the organization.

Mr. M.S. Chandrashekar, CEO, Datacons opined "We have been gearing ourselves to meet the investment management needs of the insurance sector. Our extensive research, fitment analysis backed by strong delivery capabilities will provide Mayban Life a platform to meet its unique challenges. "

Datacons Private Limited, a 32-year-old software company, is headquartered in Bangalore, India with operations in Asia, Europe as well as USA. Datacons specializes in solutions for Banking and Securities market through its MFund suite of product. Datacons provides both packaged and customized software, particularly in areas relating to Capital markets, Retail and distribution and Banking.

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