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Insurer offers new services with the help of Oracle

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Maitland, a global independent third-party fund administrator has launched its new investor servicing retirement and life products to the South African market with the help of Oracle FlexCube Investor Servicing.

“This is the first critical delivery of the revitalisation program for of our transfer agency business and it is wonderful that we can now service Retirement and Life products, a complement to our long-standing capabilities for unit trusts,” says Jim Clark, head of transfer agency services at Maitland. “Maitland is now able to provide investor record-keeping services for South Africa pension funds, annuities, endowment and certain types of discretionary portfolios. This is the first step on the journey to offer our clients a multi-product, multi-currency, multi-domicile platform to support their distribution and investor servicing.”

Maitland Group has completed a demanding project on time and on specification, providing its key customers with a greatly enhanced administration solution. This showcases Maitland’s track record of efficiently migrating large IT projects to support its business goals.

Oracle FlexCube Investor Servicing was successfully deployed at Maitland as part of the revitalisation program of their Global Transfer Agency business, enabling the launch of a new product line to provide investor servicing to Retirement & Life Products. Oracle FlexCube Investor Servicing will enable Maitland to deliver true cross-border transfer agency capabilities for a broad range of investment products, covering collective investment schemes, tax wrappers, retirement products and alternatives. The application also enables Maitland to support multi-currencies, multi-domiciles and multi-lingual servicing across its entire services portfolio.

“Today’s consumers are demanding better and more sophisticated investment options, and FlexCube Investor Servicing is designed to bring agility and scalability to the asset management and transfer agency businesses by providing them a best in class, easy to configure and manage platform,” says Chet Kamat, senior vice-president of Oracle Financial Services. “We have been active in this market segment for over a decade with a number of top tier customers across the globe and it is of great importance that we were able to onboard Maitland to our platform in record time.”