TEMENOS SELECTED TO MODERNISE AHAM CAPITAL'S FUND ACCOUNTING PLATFORM IN MALAYSIA

KUALA LUMPUR, Dec 18 (Bernama) -- Temenos, an open platform for banking, announced that AHAM Capital has selected its Multifonds Global Accounting, delivered as Software as a Service (SaaS) to drive scalable automation and future growth in the Malaysian market.

“We are delighted to be chosen and work closely with AHAM on this strategic project. As a recognised leader in the Malaysian asset management industry, AHAM sought a future-ready solution, and we are confident Multifonds SaaS will meet their aspirations.

“By enabling a truly client-centric asset management service, this partnership will support AHAM in driving innovation and accelerating business growth,” said Temenos Multifonds Managing Director, Oded Weiss in a statement.

Meanwhile, AHAM Capital Chief Technology Officer, Allen Woo said: “Temenos’ fully automated solution empowers AHAM to streamline end-to-end operations, achieve high straight-through processing (STP) rates, and support our long-term expansion plans by enabling new products such as digital assets and exchange-traded funds (ETFs).”

The Multifonds SaaS solution will allow AHAM to benefit from the flexibility offered by a cloud-based deployment and full management of the application, removing the need to maintain software in-house, in addition to being able to connect to surrounding applications in the future with standard Multifonds application programming interfaces (APIs).

Temenos Multifonds was selected after a rigorous evaluation process and detailed proof of concept, recognising Multifonds as the best solution to support AHAM’s growth over the long term.

Using Multifonds, AHAM will be able to automate its end-to-end operations with a multi-asset and multi-currency solution.

The solution can support the firm’s traditional business while at the same time supporting Islamic funds in accordance with Shariah standards, via Multifonds’ flexibility in chart of account, posting rules and naming conventions.

Temenos serves clients in over 150 countries by helping them build new banking services and state-of-the-art customer experiences, helping top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.

-- BERNAMA