News - 2013
15th December 2013
Long-standing Caribbean-based Microgen 4Series customer chooses to upgrade to Microgen 5Series after assessing a number of alternative systems.
Key factors in its decision were the levels of customer service provided by Microgen over many years coupled with the largely automated data migration for customers moving from Microgen 4Series to Microgen 5Series. The organisation also concluded that the enhanced capabilities of Microgen 5Series as well as its flexibility, improved reporting and workflow will provide significant benefits to its business.
17th November 2013
Singapore-based trust, corporate services and fund administrator choose Microgen 5Series.
After assessing alternative systems against its incumbent software provided by an Asian-based trust and corporate service software vendor, this company has selected Microgen 5Series to support its administration business. Key decision factors included Microgen 5Series’ robust system-controlled processes, especially for its fund valuations, and the improved levels of customer service that Microgen will bring compared to its current vendor.
7th November 2013
Long-standing Microgen 4Series customer based in Switzerland selects Microgen 5Series after assessing a number of alternative systems.
In addition to concluding that Microgen 5Series had market-leading functionality, a major decision criteria was the ability to minimise the staff effort and cost required to implement a new software package. The organisation concluded that the implementation process for upgrading from Microgen 4Series to Microgen 5Series was significantly more straightforward and attractive than moving to an alternative software package, particularly given the largely automated data migration process.
29th October 2013
Microgen 5Series v4.50 Released.
Microgen releases its latest version of Microgen 5Series, introducing a range of new functionality including comprehensive support for US FATCA. The FATCA functionality encompasses a comprehensive repository of FATCA information on client and entity records is provided and financial and investment transactions can be tagged as FATCA reportable. In addition, numerous internal reports to help organisations ensure their FATCA records are accurate and up-to-date and reports in the prescribed format for submission to the IRS are also provided. Other enhancements include the introduction of support for multi-currency bank accounts (i.e. single physical account with balances in more than one currency); the ability to directly email invoices as a PDF attachment to an email; increased flexibility added to the relationship diagram; and additional analysis fields added when entering country information (e.g. Risk Level).
26th June 2013
Singapore-based trust and corporate services administrator subsidiary of a major Asian banking group selects Microgen 5Series to replace its in-house systems.
The main deliverable for this project was a fully integrated investment recording system that automated trust accounting entries resulting in a more efficient operation with more accurate and up to date accounting reports. The single entry of information also reduced errors and risk within the business.
7th June 2013
Geneva-based wealth division of a major global bank chooses Microgen 5Series to replace its ageing in-house developed solution.
Significant improvements in reporting, workflow, interfaces, document production and system security were all important factors in choosing Microgen 5Series and areas where it considers Microgen 5Series will provide significant benefits to the business.
31st May 2013
STEP Caribbean Conference (11th consecutive year)
Microgen attends the STEP Caribbean conference (for the 11th consecutive year). The agenda addressed ways to tackle the myriad of issues facing the trust practitioner today including the changing face of the client, dealing with complexities of running a trust business locally, regionally and globally and the increasing impact of technology.
15th May 2013
Wealth division of a major Japanese banking group, a long-standing Microgen 4Series customer, chooses to upgrade to Microgen 5Series.
With operations in Singapore, Switzerland and the Bahamas, the organisation selected Microgen 5Series after assessing a number of alternative systems. It was keen to implement a solution that enabled enhanced levels of integration with its banking systems, as well as the ability to control the work its staff does through workflow. Microgen’s strategic focus on the wealth management market and significant ongoing investment in Microgen 5Series gave the business comfort in extending its relationship with Microgen for many years to come.
2nd May 2013
Bahamas-based asset manager selects Microgen 5Series to support its growing business.
The strong accounting and investment management capabilities of Microgen 5Series were important factors in its decision as was Microgen’s track record of providing software and support to the Caribbean market.
29th April 2013
Microgen 5Series v4.41Released
Microgen releases its latest version of Microgen 5Series introducing a range of new functionality including the calculation and automated posting to the general ledger of interest accruals on contracts and bank accounts; new features in the area of CCD (client confidential data) protection to provide additional controls on address information; new investment type to support the recording and accounting for investment based on a capital commitment and capital call basis (e.g. private equity investments); additional options for asset based fees (ad valorem fees) to enable monthly calculations of fees which can then be aggregated into a single invoice amount each year and the ability to consolidate multiple portfolios to determine the correct banding for tiered charges; and compatibility with Microsoft Office 2013, Microsoft Windows 8 and Microsoft SQL Server 2012.
30th March 2013
The trust services division of one of the world’s large banking groups selects Microgen 5Series for its global trust and corporate services administration business following a long and detailed assessment of systems.
Vendor credibility was a key consideration for this major bank when selecting a long term partner for its wealth management business. As a UK public company, established for over 40 years and with a strong financial record, Microgen ticked all the boxes; especially by comparison to the many smaller and privately owned vendors in this market. With a global business and multiple offices, workflow capabilities and protection of client confidentiality were important for the bank. The strong workflow capabilities within Microgen 5Series to improve operational control and efficiency, coupled with comprehensive client data security controls were well received by the bank.
12th March 2013
A long-standing Guernsey-based Microgen 4Series customer selects to upgrade to Microgen 5Series after assessing a number of alternative systems.
Microgen 5Series proved to be more flexible compared to the other products reviewed, providing the customer comfort that as their business and market environment changed, they would have the capability to adapt the configuration of the system themselves, without re-course back to Microgen to make core software changes to the product.
12th February 2013
Trust and Corporate Service provider Managing Director leaves to setup a new company and buys Microgen 5Series for the second time.
Having implemented and used Microgen 5Series in a previous role, the Managing Director of this new firm was keen to put Microgen 5Series in place again for this new start-up business. The intuitive nature of the software and the flexible configuration options available to business users were fundamental factors in the decision to choose Microgen 5Series.