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Suncorp Group Automates Cash Processing For Wealth Management With DSTI’s HIPortfolio

  • 07 September, 2004 11:27

<p>Sydney 7 September 2004 – DST International (DSTi), the leader in business solutions for the investment management industry today announced that integrated financial service group Suncorp, with over $11 billion funds under management, has expanded its HiPortfolio platform to include the modules for Cash Import and Export procedures. Suncorp will be using the HiPortfolio IDX Money Market Transaction Import module, the IDX Cash Transaction Import module and the Off-Market Transaction Import module to import the cash movements associated with the Bank’s wealth management products and futures transactions.</p>
<p>Suncorp has been a user of the DSTi flagship HiPortfolio solution for portfolio administration for 15 years for its wealth management arm. The company has also been an integral member of the DSTi Advanced Users Group in which DSTi provides a co-operative funding scheme for the ongoing development of Australian-based solutions for its HiPortfolio suite and additional product range.</p>
<p>Suncorp’s Investment Operations Manager Michael Nightingale said the group had come to rely on the functionality of HiPortfolio over the years.</p>
<p>“The increased use of HiPortfolio in our wealth management administration platforms has produced outstanding results for us already,” Mr Nightingale said.</p>
<p>“The addition of the new modules has resulted in two to three hours of reduced processing time for the management of our capital and money market transactions on a daily basis.”</p>
<p>“This is another example of the success of the functionality, reliability and modularity of the HiPortfolio platform,” outlined DSTi’s Chief Executive Officer for Australia and New Zealand, Ian Mathieson.</p>
<p>“Clients can be secure in the knowledge that their investment in HiPortfolio will remain not only a long term business solution option, but it will also keep pace with the changing requirements and advances for both financial services business and technology.</p>
<p>Suncorp-Metway Ltd is one of Australia's top 30 companies and is Queensland's biggest corporation with a market value of around $7 billion. The Suncorp Group is Australia's 6th largest bank and 3rd biggest general insurance group.</p>
<p>Ends</p>
<p>About DST International (DSTi)
With 18 offices and over 1300 professionals to support its growing client base, DST International provides a unique and comprehensive range of investment management and work management software solutions and related services to 600 clients in 55 countries.
http://www.dstinternational.com</p>
<p>About DST Systems, Inc.
Our parent company, DST Systems, provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organised domestically and internationally into three operating segments: Financial Services, Customer Management, and Output Solutions. DST operates one of the most advanced data centres in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST’s advanced technology and e-commerce solutions.</p>
<p>For more information please visit www.dstinternational or contact:
Cathryn van der Walt
12 Worlds Pty Limited
Tel: +612 9501 1931
Email: cathryn@12worlds.com</p>

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