PCS, a member of the SingularLogic Group, today announced a deal with Co-operative Bank, one of the largest banks in Kenya, for its flagship product PCS Custody.
The deal marks another win for PCS in Kenya as PCS recently undertook another project in the country. The implementation of PCS Custody will fully support the bank’s settlement and custody activities for various portfolios including the bank’s and its clients’, those of Institutional Investors, Funds and Mutual Funds.
PCS Custody boasts considerable success and has received especially favorable commentaries for its “advanced and modern functionality, as well as for its user-friendly interface” by domestic and foreign banking institutions. To date, the platform has been installed and is operational in major banks in 6 countries.
Co-operative Bank is one of the largest Kenyan banks with a customer base of over 3.2 million and is listed on the Nairobi Stock Exchange.
Commenting on the announcement George Xenofos, Managing Director, PCS, said: “We are honored to collaborate with Co-operative Bank and this partnership marks another important win in Kenya. Our impeccable track record and our strong domain understanding of the industry was an important factor for the bank to select PCS after an international tender.”