PT. Bank Danamon Indonesia Tbk. Goes Live With HiPortfolio

Jakarta, Indonesia– DST International (DSTi), the leader in business solutions for the investment management industry, today announced that PT Bank Danamon Indonesia Tbk (Danamon) has gone live with HiPortfolio/2, DSTi’s back office solution, to support its custodian administration services to external fund managers.

Danamon’s outsourcing service has grown significantly since its launch at the end of last year. Recognising the need for a sophisticated and proven solution to support the smooth running of the new operations, Danamon selected DSTi’s HiPortolio/2 solution, after evaluating other solutions on the market.
Danamon chose HiPortfolio for its rich and comprehensive functionality, including integrated accounting capabilities. Further, DSTi has a proven track record in successfully delivering its HiPortfolio system globally including all over Asia. DSTi’s experience in the local Indonesian market provided the assurance of a faster and smoother implementation – a criteria that was critical for Danamon. Working together, DSTi and Danamon have now successfully integrated HiPortfolio and the system is now live.

Oliver Mambu, Danamon’s vice president, financial institution division head said, "In the process of entering the fast growing custody business in Indonesia, we immediately felt the need to employ a system that would reliably handle both the high portfolio management and the fund accounting. Support from highly professional people was also taken into serious consideration.

Due to the attractiveness of custodian business in Indonesia, our decision to go live with HiPortfolio has proven to be in the right track to becoming the custodian bank of choice. Within relatively short period of time after the launching of our custodian department, Bank Danamon has put itself among the top of the most active custodians in Indonesia with high reliability."

Lena Tay, DSTi’s South Asian general manager, said, "We are delighted to have Danamon as one of our esteemed clients on our flagship product, HiPortfolio. Danamon’s selection of HiPortfolio further strengthens DSTi’s position as the leading solution provider in the investment management industry in Indonesia. With HiPortfolio’s proven solution and DSTi’s experience, DSTi assisted Danamon to put in place an infrastructure that will enable Danamon to continue to grow its custody business quickly."

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