The five year deal, believed to be one of the largest transfer agency system contracts of its kind, will see INVESCO's usage of GFAS extend to over 10 countries worldwide. GFAS is a multi currency, multi product, multi-country transfer agency and record keeping system, which combines sophisticated call centre and workflow technologies with straight-through processing and foreign exchange capabilities. Its unique proposition is its global nature, enabling companies such as INVESCO to manage their global back office on a single platform. The move now means that over 7 million holdings are serviced by GFAS including the two largest fund management groups in the UK (Fidelity and INVESCO PERPETUAL), as well as FundsNetwork, one of the leading mutual fund supermarkets in the UK.
Anthony Myers, Global Chief Operating Officer at INVESCO, said, "We chose GFAS because it will provide the company with a tried and tested global platform, enabling our staff to deliver state-of-the-art and enhanced services to our global client base. "The successful implementation is a credit to the INVESCO and MFT staff working in tandem. By migrating our transfer agency system needs to GFAS, our company can focus its IT investment and resources into areas where genuine and competitive added value can be delivered to the marketplace".
Bob Milotte, Managing Director of Mutual Fund Technologies, said, "We are delighted that INVESCO has now gone live with GFAS across its global operation. The project has been a great success for both of our companies. I look forward to a long and successful partnership as we strive to ensure that INVESCO are able to realise the true benefits of having a single system for their global operations."
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