Microgen (LSE: MCGN), developer and implementer of enterprise software for some of the world's largest organisations, announced today that Canadian financial services company, Equity Financial Holdings (TSX: EQI), has implemented Microgen 5Series in its subsidiary, Equity Financial Trust Company, in Toronto.
Equity has chosen to use Microgen 5Series Trust Administration Software to create a flexible yet robust system to meet its current and future needs.
Equity provides a range of services, such as stock transfer, corporate trust, mortgage and deposits, that require efficient handling to give the best value to more than 650 corporate, institutional and retail customers.
In eight weeks, Equity implemented Microgen 5Series to replace a number of disparate systems and processes that were inefficient to manage. Operational efficiency is at the forefront of Equity's business decisions and the company was quick to identify the benefits of the flexible solution offered by Microgen.
Equity chose Microgen 5Series Trust because of its user-definable features including custom entity types, fields and workflow processes. This allows Equity to configure the system to suit its needs as it grows, rather than having to adapt to suit the technology.
“With over 20 years' experience, we knew that our business needed to keep the competitive edge in this fast-moving financial market and there wasn't an off-the-shelf solution that satisfied our requirements. Microgen not only completely understood our business needs, but was able to demonstrate the flexibility and ease of configuration of Microgen 5Series; exactly what we required,” said Nick Kyprianou, CEO, Equity Financial Trust Company. “The strong track record, stability and experience that Microgen has in the financial market supported our final decision.”
Simon Baines, Managing Director of Microgen Financial Systems Division, commented: “Financial services companies need to react to changes in the market immediately with a conviction that their services are accurate. The technology in place needs to deliver that reliability, but also be sufficiently flexible to grow and adapt to business needs.”
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