Used by asset managers and third-party administrators the world over, INVEST ONE is one of the industry's most trusted multi-currency investment accounting and reporting solution. INVEST ONE processes more than $9 trillion in assets and supports usage by virtually any type of portfolio, including mutual funds, unit trusts, institutional funds and hedge funds around the globe. INVEST ONE is fully integrated with Decalog, SunGard's global trade order management system that is well established in Europe and is a leading trade order management system in South Africa. This fully integrated front- to-back-office solution will enable Finsource to offer Business Process Outsourcing (BPO) to the global financial services industry from South Africa.
"The SunGard deal confirms Cape Town's position as an ideal BPO hub, particularly in the area of financial services following the entry of other key institutions into the local market in recent months," said FinSource group chief executive officer Dale Lippstreu. "The integrated INVEST ONE/Decalog solution is well-suited to global implementation as it processes transactions in real-time, making it independent of time zones. Browser-based access to the system allows services to be provided on a remote basis without the need to install and maintain a sophisticated communication structure."
"We're delighted to expand into South Africa with a leading fund administrator like FinSource," said Jack McArdle, group chief executive officer of SunGard Investment Management Systems. "The trend towards outsourcing favors fund administrators that have a combination of outstanding service and systems. Fund administration has been a strategic focus of INVEST ONE as evidenced by our client concentrations in the major traditional fund administration centers of the world like the United States, the United Kingdom, Ireland and Luxembourg. We see South Africa as an expanding fund administration center and look forward to working with FinSource."