News - 2014
5th December 2014
Microgen announces the acquisition of Unity Software Limited
Microgen announces the acquisition of Unity Software Limited (‘Unity’), a Jersey-based provider of wealth management software for the offshore finance industry. Unity will be integrated into Microgen’s Financial Systems business. A key element of the strategy of the Financial Systems business is to increase the proportion of its revenue derived from the wealth management sector through add-on acquisitions. This acquisition provides the Financial Systems business with an increased client and recurring revenue base in one of its core sectors together with an office in Jersey, a key geographical market for its products.
27th November 2014
Singapore Trust Association Conference
Microgen again attends the Singapore Trust Association Conference in Singapore. This year the theme was “Singapore: a Dynamic Trust Centre” with the agenda covering the increasingly significant but inevitable issues facing the Singapore trust market as it grows to become one of the leading and most dynamic trust centres in Asia – namely, the management of trust disputes, information exchange and privacy, global tax reporting.
23rd November 2014
British Virgin Islands office of an international professional services group selects Microgen 5Series.
The Group provides advice to high net worth individuals and families, as well as trust, tax and accounting services, and has signed for Microgen 5Series to support its BVI Corporate Services administration operations. As well as recognising the significant benefits Microgen 5Series workflow will bring to its business, the organisation chose Microgen 5Series because the software contains rich functionality, not well-supported in other systems it evaluated. This was a key requirement to support the high volumes of companies typically managed in the BVI, for example supporting automated fee reminders, penalties and fees based on share capital.
15th November 2014
Business Life Conference (Guernsey).
Microgen attends and exhibits at the Business Life Conference in Guernsey. The conference was well attended and focused on the modern face of the trust industry in the 21st century and the outside influence and demands for information.
28th October 2014
STEP Asia Conference (Hong Kong).
Microgen was present at the annual STEP Asia conference, this year held in Hong Kong. The agenda focused heavily on two key issues facing the global trust and corporate services industry – client confidentiality and the regulatory compliance burden arising from the introduction of US FATCA and OECD exchange of tax information regulations. Microgen believes that modern software, like Microgen 5Series, can make a significant contribution to reducing these two potential issues for the trust and corporate services markets.
14th September 2014
New start up trust and corporate services administrator based in Guernsey selects Microgen 5Series to support its new business.
The organisation concluded that it was important to implement a proven solution for its new business from the outset. The comprehensive capabilities and intuitive nature of Microgen 5Series, coupled with Microgen’s long track-record and local Guernsey office were important considerations for this company in selecting Microgen and Microgen 5Series software.
22nd August 2014
Global provider of trust, corporate administration and private client services chooses Microgen 5Series.
Following a period of significant business growth this independent, global provider of trust, corporate administration and private client services decided it was time to replace its legacy software provided by a Channel Islands-based vendor. The business faced limitations on its ability to grow and concluded that a constraint was its incumbent core administration software, and so has decided to invest in a modern software package rather than recruiting additional staff. It considers that the investment in new software will provide a significant return on investment compared to recruiting additional staff and that it will also provide the business with a long-term infrastructure to support further growth.
13th August 2014
Guernsey-based trust and corporate services provider signs for Microgen 5Series.
This Guernsey-based trust and corporate services provider evaluated alternative systems and has subsequently chosen Microgen 5Series to replace its incumbent software which is provided by a Channel Islands-based vendor. With a growing business and increasingly demanding clients, it concluded that Microgen 5Series’ market-leading capabilities would bring significant improvements in operational control, efficiency and client reporting. Key to its decision was the ongoing investment Microgen makes in keeping Microgen 5Series in pace with ongoing regulatory and technology change.
24th June 2014
Channel Islands trust and corporate services provider selects Microgen 5Series.
After a period of business growth this trust and corporate services administrator, based in Guernsey, decided it was critical to invest in a modern and comprehensive administration software solution to replace its largely manual processes – and has chosen Microgen 5Series. Important considerations in its decision to choose Microgen 5Series were Microgen’s ongoing roadmap of investment in its software, and that Microgen was proven in the market with a local Channel Islands presence. The organisation also recognised that the ability to systematise its business processes using the powerful yet easy to configure workflow tool within Microgen 5Series will support business growth whilst maintaining its high quality standards.
29th May 2014
STEP Caribbean Conference (12th consecutive year).
The conference was held in Nassau and this year tackled 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.
5th May 2014
One of Bermuda’s largest independent, integrated financial services organisations signs for Microgen 5Series to manage its trust and corporate services administration.
This organisation was keen to implement a proven, robust and workflow-enabled solution to support a newly acquired business. Following an assessment of available systems this organisation selected Microgen 5Series to support its business and took particular comfort from the positive recommendations it received from other Microgen 5Series customers in Bermuda.
22nd April 2014
Microgen 5Series v4.51 Released.
Microgen releases its latest version of Microgen 5Series introducing a range of new functionality including a User Defined Query tool which allow customers to extract data from the Microgen 5Series database using a business user-friendly interface. This tool enables users to react quickly and accurately to new requests for information. Queries can be saved if they are to be required on an ongoing basis. Other important new developments are the inclusion of US FATCA reporting capabilities; extensions to the workflow functions to support the management and processing of erroneous records in import files; and several new workflow functions including support for the retrieval of, and update to user-defined registers and improved questions and messages.
4th April 2014
Fund administrator in Cyprus chooses Microgen 5Series to support its fund administration activities.
After initially establishing its business operations using Microsoft Excel, this fund administrator, based in Cyprus, achieved rapid growth and concluded that it needed to put in place a robust and proven software package to support its fund administration activities. After a review of alternative systems, Microgen 5Series was selected. The depth and breadth of functionality coupled with an intuitive system design, backed by a well-established and proven vendor were important factors in this fund administrator selecting Microgen and Microgen 5Series.
23rd March 2014
Major Middle East fund administrator selects Microgen 5Series to support its growing business.
A large Middle-East fund administrator selects Microgen 5Series to support its growing business. With a reputation for providing high quality services, this fund administrator has chosen to implement Microgen 5Series as a robust and proven solution to help it maintain its market-leading position.