HBOS Group. The solution will re-engineer its âend to endâ fund accounting and reporting processes, providing a consistent and reconciled source of data for management and financial accounting, regulatory and tax reporting.
David Morgan, HBOSâ business manager â asset management project, said, "We chose HiPortfolio/3, HiWay and HiMarketData because we believe it will minimise risk and operational costs. We will consolidate our IT infrastructure from multiple systems into HiPortfolio/3. HiPortfolio/3 will address the accounting and reporting requirements of all of our investment savings products that include; OEICS, with Profit/Non-Profit, Life and Pension funds. HiWay will help us link the solution to other companies within the group. HiMarketData will validate and verify external price data before it reaches HiPortfolio/3."
Mike Winn, DSTiâs CEO, said, "This sale proves the innate versatility of HiPortfolio/3. Many of our recent sales have been to Third Party Administrators who will use the product to handle multiple clientsâ requirements. The sale to HBOS confirms HiPortfolio/3âs leadership position amongst those companies that choose to keep their own back office in-house. HBOS can also add other DSTi
products, such as HiWay and HiMarketData to help streamline their operations.
As David Morgan of HBOS says, 'This minimizes risk and operational cost'. What more can you want?!"