ACIS through Absa Capital and its affiliation with Barclays Capital, provides clients with both local and international expertise. Its business model is supported by products and services that match the increasingly sophisticated demands of the market with access to pioneering technology and product expertise.
Further to an extensive market review, ACIS decided to implement Megara not only to support its growth but also to improve its comprehensive custodial, clearing, settlement and value-added services to clients.
âMegaraÂ® is one of the most sought-after software systems internationally and will help us to ensure the best service delivery to our clientsâ says Bennie van der Westhuizen, Head of Custody.
He added: âMegaraÂ® offers a host of benefits. It is an internationally recognised system, it offers cutting edge custody technology and extensive opportunity to integrate between Absa Capital and clients. Additionally, the system will allow us to deal on a Straight-Through Processing basis for all type of asset classes. We have been particularly impressed by the architecture of MegaraÂ® founded on JEE and SOA oriented that provides us with a high level of agility to support the fast changing business environment.â
Christian Cure, VERMEGâs EVP Sales added: âWe are delighted that ACIS has decided to join the growing list of custodians adopting MegaraÂ® to further enhance their custody services. VERMEG has been present in the South African market for many years and we have a deep understanding of local market requirements and practices. The web-enabled nature of the MegaraÂ® suite means ACIS will be able to provide its clients with an automated way of conveying their securities instructions to ACIS, vastly improving the degree of straight through processing and minimising operational riskâ.