SunGard (www.sungard.com) today announced that EcoBank Asset Management (www.ecobank.com) has selected SunGard's Asset Arena Investment Accounting solution to automate its entire back-office operations.
With total assets of $5.2 billion, the EcoBank Group is the leading independent regional banking group in West and Central Africa. SunGard's Asset Arena Investment Accounting is a Web-based investment accounting platform that supports virtually all types of funds on a single, unified platform (www.sungard.com/assetarena).
With a network of more than 430 branches and offices in 20 countries of West, East and Central Africa, the EcoBank Group is known as "the pan-African bank". To boost its expansion, EcoBank Asset Management has been looking for a best-of-breed, scalable investment accounting solution to automate its operations.
"We selected Asset Arena because of its extensive functional coverage and ability to meet our business needs," commented Mr Georges Kavege, managing director of EcoBank Asset Management.
"The solution was implemented on-site, over the space of a single month, with the help of the Asset Arena Professional Services team. We have, therefore, been quick to realise the benefits of a robust, flexible and scalable solution that will help support the growth of our business."
Bernard Hur'e, managing director of SunGard's European Institutional Asset Management business, commented: "EcoBank is a recognised leader in the growing African banking industry, so we at SunGard's Asset Arena are delighted to welcome them as a new customer. By providing enhanced functional capabilities on a single platform, Asset Arena will enable EcoBank to streamline its back-office operations and therefore help improve operational efficiency."
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