News - 2016

  • 20th December 2016

    Four Microgen 5Series customers have added the recently launched Document Store Module.

    Following its recent launch, four Microgen 5Series have added the Document Store module to help them achieve increased control, security and efficiency in the management and storage of documents.  The Document Store module provides significant improvements compared to storing documents in network folders, and offers a cost effective alternative to using a separate 3rd party document management system.  Emails and documents can quickly and easily be saved against relevant client or entity records in Microgen 5Series and security controls will ensure that only relevant staff have access.

  • 16th December 2016

    UK Fund Administrators extends commitment to Microgen 5Series Transfer Agency software for a further 6 years.

    A long-standing UK based fund administrator has today extended its contracted term for the Microgen 5Series Transfer Agency software for a further 6 years. Following a strategic review of its business, that included a full review of its systems and potential alternatives, this organisation concluded that the service and support delivered by Microgen coupled with the comprehensive capabilities of Microgen 5Series software would support its UK transfer agency business well for the long-term.

  • 1st November 2016

    A newly acquired subsidiary of a long-standing Microgen customer selects Microgen 5Series.

    A Jersey based trust company, recently acquired by a leading independent provider of trust, fund, real estate and corporate services operating across 14 strategic locations worldwide, selects Microgen 5Series for its trust and corporate services administration requirements.  The comprehensive capabilities of Microgen 5Series, including its powerful and flexible workflow, extensive management reporting and support for FATCA and CRS, coupled with Microgen’s corporate and financial strength and transparency were importing factors influencing this service providers’ decision.

  • 31st October 2016

    Guernsey-based customer significantly extends its use of Microgen 5Series throughout its global offices.

    A leading independent fiduciary business, headquartered in Guernsey, and with offices globally, has today signed to significantly extend its use of Microgen 5Series across its global business operations.  Following a successful initial limited deployment of Microgen 5Series, and following a positive period of business growth, this organisation has today signed to extend the use of Microgen 5Series throughout its global network of offices and to its ca. 100 staff.

    Powerful and flexible workflow to help improve operational control and efficiency, automated client structure diagrams that will save significant staff time and comprehensive support for FATCA and CRS were amongst the key factors that led this organisation to replace its legacy software package with Microgen 5Series.

  • 18th October 2016

    Another Mauritius-based trust and corporate services provider selects Microgen 5Series.

    This independent trust services group, that provides robust, un-conflicted trust and company management on a multi-jurisdictional basis has today signed for Microgen 5Series.  Following a detailed review of systems on the market, this organisation concluded that Microgen 5Series provided it with a comprehensive single solution to support its entire operations, that was flexible, easy to use and delivered significant efficiencies by eliminating duplication and increasing automation.  Microgen’s local partnership with BDO IT Consulting in Mauritius and the local, sales, consultancy and support services were also important factors in their decision-making process.

  • 13th October 2016

    A long-standing Bermuda-based Trust and Corporate Services Provider extends its commitment to Microgen 5Series.

    One of Bermuda’s leading trust and corporate services providers, that has been a Microgen 5Series customer since 2010, has extended its contract term for a further minimum 4-year period. This organisations decision to further commit to Microgen 5Series was made easy by the comfort it gained from Microgen’s ongoing investment to meet the ever-changing needs of the market, including the many functional enhancements that have been delivered in Microgen 5Series and provided to customers for no additional licence fees (including, for example, FATCA and CRS), the robustness of the software and strong support from Microgen over many years.

  • 1st October 2016

    Microgen partners with Fireminds Ltd. in Bermuda and Cayman.

    Microgen is pleased to announce a partnership with Fireminds in Bermuda and Cayman. Already International Finance Centre of repute, Bermuda and Cayman’s strategic location has significant potential for investors – and, as a result, is a growing market for trust, corporate services and fund administration providers.

    This partnership is aimed at growing Microgen’s existing market share in the Caribbean by combining Fireminds’ local knowledge and services expertise with Microgen’s state of the art trust, corporate services and fund administration software.

    Fireminds, established in 2001, provides innovative technology services such as software development, web development, cloud computing, IT support and ecommerce solutions for businesses in Bermuda, and is growing rapidly across the Caribbean.

  • 9th September 2016

    A Cayman headquartered fiduciary company with 40 years’ experience in private and corporate banking, fiduciary, wealth management and fund administration services selects Microgen 5Series for its Isle of Man office.

    This long-established provider of trust and corporate services has signed for Microgen 5Series to manage its business.  The company concluded, after a detailed assessment of a number of alternative systems, that the benefits offered by Microgen 5Series will provide significant improvements in operational control and efficiency across its administration business and provide significant improvements in management control and reporting.

    In addition to the strong reputation of Microgen and Microgen 5Series in the Caribbean and the Isle of Man, the business was keen to ensure that it was implementing administration software from a vendor that would continue to enhance it to meet the changing needs of the market in the future.

  • 1st September 2016

    A long-established wealth management company based in Malta selects Microgen 5Series.

    This provider of financial support and guidance for wealthy individuals and their families has today contracted for Microgen 5Series following a detailed review of a number of competitor systems. This long-standing Microgen customer is currently using one of Microgen’s older trust and corporate services software solutions and is now migrating to Microgen 5Series to support its trust and corporate services business. Although Microgen has no plans to cease support and maintenance of its older trust, corporate services and fund administration software products, the company concluded that the benefits offered by Microgen 5Series presented significant improvements in operational efficiency and management control of its business and importantly also presented a solution to support its CRS tax reporting obligations from 2017 onwards.

  • 17th August 2016

    A long-established Singapore-based investment group selects Microgen 5Series.

    This long-established investment group, currently using one of Microgen’s older software solutions, has today signed contracts to migrate to Microgen 5Series. Although Microgen has no plans to cease support and maintenance of its older trust, corporate services and fund administration software products, this investment group concluded that the rich functionality and workflow within Microgen 5Series, coupled with the enhanced integration to both internal systems and to external banks, provided significant benefits and would allow the group to retire a number of older legacy systems.

    The group also took comfort from the investment made by Microgen to deliver a largely automated data migration process for customers moving from older Microgen administration software to Microgen 5Series, and that Microgen retains skilled technical and business consultant teams that understand both the older Microgen software products as well as Microgen 5Series.

  • 5th August 2016

    A trust company based in Guernsey selects Microgen 5Series to support its Trust and Fund Administration business.

    This specialist provider of trust, corporate services and fund administration services has selected Microgen 5Series to support its Guernsey-based business. This decision followed a detailed review of systems on the market as well as the organisation’s previous experience of other systems.  A key consideration for the selection of Microgen 5Series rather than alternative products was that it will enable the organisation to have a complete single solution to manage both its fiduciary and fund administration business.  As a relatively small company, the management team was attracted by the quick and simple implementation process as well as the user-friendliness of Microgen 5Series.

  • 22nd July 2016

    A wealth planning and trust specialist based in Zurich chooses Microgen 5Series.

    With offices in Switzerland and Hong Kong, this organisation has selected Microgen 5Series to support its growing business.  The implementation of Microgen 5Series will provide a complete single system on which the organisation can run its operations and will provide a controlled and efficient platform on which it can confidently grow the business. Operational efficiencies delivered by Microgen 5Series will free up staff time to focus on more value-added and chargeable activities for its current and growing client base.

    The introduction of the OECD’s Common Reporting Standards (CRS) reporting in 2017 was also a major factor in this organisation deciding to make an investment in its technology and it concluded that the comprehensive support for both FATCA and CRS provided by Microgen 5Series provides a comprehensive single global tax reporting solution for the business.

  • 22nd July 2016

    A new, Guernsey-based, privately owned trust company providing bespoke fiduciary services selects Microgen 5Series.

    This new independent provider of trust and corporate services has signed for Microgen 5Series to manage its business.  The company concluded, after a detailed assessment of a number of alternative systems, that the benefits offered by Microgen 5Series will provide significant improvements in operational control and efficiency across its administration business and provide a solution to support its FATCA and CRS reporting.   Microgen’s large Channel Islands and global customer base, coupled with its local Guernsey office and ongoing investment in Microgen 5Series were important factors in the selection of Microgen 5Series.

  • 29th June 2016

    One of the largest global trust and corporate services providers selects Microgen 5Series.

    The company – one of the top 10 largest multi-national providers of trust and corporate services – has signed contracts for Microgen 5Series, which will be rolled out to over 900 staff in more than 40 offices across the globe.

    After a detailed assessment of Microgen 5Series and a competitor product, the company concluded that Microgen 5Series provided a better functional and technical fit for its business.  As with any organisation of this size, integration to other systems used in the business is key.  Comprehensive APIs provided with Microgen 5Series will allow it to work seamlessly alongside other key business systems.

    Global tax reporting under the Common Reporting Standards (‘CRS’) and US FATCA was a major driver for the company to invest in new technology to replace its legacy systems, and the comprehensive support for such tax reporting within Microgen 5Series was a key factor in the decision to select Microgen 5Series.

  • 15th June 2016

    A specialist provider of wealth management services selects Microgen 5Series as its key operational business system.

    This independent provider of wealth services to families, with offices in Jersey, Malta and Qatar has today signed contracts to migrate from one of Microgen’s older trust and corporate services software solutions to Microgen 5Series.  Although Microgen has no plans to cease support and maintenance of its older trust, corporate services and fund administration software products, the company concluded, after a detailed assessment of a number of alternative systems, that the benefits offered by Microgen 5Series will provide significant improvements in client service across its business.

    Microgen’s local presence in Jersey coupled with the comprehensive capabilities of the Microgen 5Series software, including its integrated Document Store module, were important factors in this company selecting Microgen and Microgen 5Series The company also concluded that the automated processes that Microgen has developed for migrating much of the data from older Microgen products into Microgen 5Series will help provide a quicker, simpler, lower risk and lower cost migration project in comparison to moving to any other alternative product.

  • 16th May 2016

    Microgen Financial Systems acquires Infoscreen (Cyprus) Limited.

    Microgen Financial Systems is pleased to announce that it has acquired Infoscreen (Cyprus) Limited, a wealth management software provider for the trust and corporate services industry. Infoscreen, based in Cyprus with an additional office in Belgrade, will be integrated into the Microgen Financial Systems business. The company’s Quorum software is used by over 200 clients providing the business with a strong recurring revenue base. A key strategic focus of the Financial Systems business is to increase its revenue derived from the Trust & Fund Administration sector – both through continued sales success with its flagship Microgen 5Series product and from making suitable add-on acquisitions. Infoscreen represents the fourth acquisition by Financial Systems within this sector since December 2014, and provides Microgen with an increased client and recurring revenue base.

  • 29th April 2016

    A long-standing Microgen customer establishes a new trust and corporate services business in the Channel Islands and elects to deploy Microgen 5Series.

    After many successful years using Microgen 5Series, a long-standing customer has signed to extend its use of Microgen 5Series into its recently formed new Channel Islands business that focuses on providing a premium service to ultra-high net worth individuals, families, institutions and family offices.

    The comprehensive functionality delivered by Microgen 5Series coupled with its strong workflow capabilities, provide a solid and proven platform for this new business.  Microgen’s significant ongoing investment in Microgen 5Series, for example the introduction of comprehensive support for FATCA and CRS reporting, gave the organisation comfort in Microgen’s ability to provide its customers with market leading software for many years to come.

    The quality and capability of the Microgen 5Series software, coupled with the quality of Microgen’s implementation and support teams were important factors in this customer’s decision to extend its use of Microgen 5Series, as was Microgen’s large and growing customer base, its local Guernsey office, and its financial strength.

  • 29th February 2016

    Microgen partners with BDO IT Consulting in Mauritius.

    Microgen has announced a partnership with BDO IT Consulting in Mauritius. Already an International Finance Centre of repute, Mauritius’s strategic location has significant potential for investors – and, as a result, is a growing market for trust, corporate services and fund administration providers. This partnership is aimed at growing Microgen’s existing market share in Mauritius by combining BDO Solutions’ local knowledge and services expertise with Microgen’s state of the art trust, corporate services and fund administration software.

    BDO IT Consulting is a member firm of BDO International, the world’s fifth largest network of accounting professionals. It was set up in 2014 with the aim of providing the local Mauritius and international markets with technology and outsourcing services, particularly system integration & consulting, IT audit and data analysis, infrastructure management, and outsourcing.

    Both companies, with their common expertise, knowledge and professional approach, will work hand in hand to enable organisations implementing Microgen 5Series software to improve their operational efficiency and enable staff to be better informed and fully compliant with regulations. BDO IT Consulting will provide local sales and marketing support for Microgen 5Series as well as implementation consultants and first line support for our customers in Mauritius.

  • 22nd February 2016

    An international wealth management firm operating in the UK, Switzerland and BVI that provides bespoke wealth protection strategies for families, investors and entrepreneurs selects Microgen 5Series to support its trust and corporate services operations.

    A long-standing Microgen customer, currently using one of Microgen’s older trust and corporate services software solutions, has today signed contracts to migrate to Microgen 5Series. Although Microgen has no plans to cease support and maintenance of its older trust, corporate services and fund administration software products, this service provider concluded that the benefits offered by Microgen 5Series presented a significant step change in how technology could improve the operational efficiency and management control of its business and that there was therefore a compelling return on investment from implementing it. The business undertook a detailed assessment of a number of systems on the market and were particularly impressed by the comprehensive capabilities of Microgen 5Series, its flexibility and ease of reporting – in particular its query tool for business users and graphical dashboard’s to help staff manage KPIs. The comprehensive support for global tax reporting in Microgen 5Series was also an important factor for this organisation that has clients in more than twenty countries.

  • 12th February 2016

    A leading Jersey-based provider of trust and corporate services selects Microgen 5Series to support its operations, including its FATCA and CRS reporting requirements.

    This independent provider of trust and corporate services to a global client base of intermediaries and clients has today signed contracts to migrate from one of Microgen’s older trust and corporate services software solutions to Microgen 5Series.  Although Microgen has no plans to cease support and maintenance of its older trust, corporate services and fund administration software products, the company concluded, after a detailed assessment of a number of alternative systems, that the benefits offered by Microgen 5Series will provide significant improvements in operational control and efficiency within its business. Importantly Microgen 5Series also provides a comprehensive solution to support the company’s 2016 US and UK tax reporting requirements as well as its CRS reporting requirements from 2017 onwards. The company also concluded that the automated processes that Microgen has developed for migrating much of the data from older Microgen products into Microgen 5Series provides a quicker, simpler and lower risk and cost implementation project, compared to moving to a non-Microgen system.

  • 11th February 2016

    Microgen partners with Cognopia Pte Ltd in Asia

    Microgen is pleased to announce a partnership with Cognopia in Asia. Over recent years the Asia Pacific region has experienced significant growth in the financial services sector including growth in the number of trust, corporate services and fund administration providers.

    Cognopia provides Sales-as-a-Service to technology companies seeking to expand into the APAC marketplace. The Cognopia team comprises expertise in Financial Services, Commodities, Shipping, and Data Governance domains, as well as a strong knowledge of the local and regional buying processes. Building on decades of experience, Cognopia delivers compelling go-to-market strategies and executes these through lead generation, sales process outsourcing and pre-sales capabilities

    This partnership is aimed at growing Microgen’s existing market share in Asia by combining Cognopia’s local knowledge and services expertise with Microgen’s state of the art trust, corporate services and fund administration software.

  • 8th January 2016

    One of the leading corporate services providers in Mauritius, with AUM exceeding US$150 billion and more than 250 staff, has chosen Microgen 5Series.

    The company, a division of a major financial services group head-quartered in Mauritius, is one of the largest Mauritian corporate services providers. From its Mauritius and Singapore offices it provides internationally-based corporate and institutional clients with a full range of fund, corporate and fiduciary administration services, including the setting-up, licensing and administration of entities and the provision of a range of supporting services including directorship, secretarial, accounting, and tax. Microgen 5Series has been chosen as the core business system to be used for the provision of services the company offers to clients, replacing one of Microgen’s older trust and corporate services software solutions, Elements. Microgen has no plans to cease support and maintenance of Elements or its other older software products. However, the company determined that it needed a modern, functionally-rich system to underpin the continued growth of its business. After an in depth assessment of the systems on the market, it concluded that Microgen 5Series offers significant benefits over and above any of the other systems it reviewed, and so has signed contracts today.

  • 5th January 2016

    A major international banking group, headquartered in North America, selects Microgen 5Series for its international trust and corporate services business.

    One of the world’s largest trust and corporate services providers, a division of a major international North American head-quartered bank, has today signed contracts for Microgen 5Series. The bank will use Microgen 5Series as the comprehensive operational system for activities currently done using both Microgen’s Jobstream software and a range of internally-developed and third party systems. Microgen has no plans to cease support and maintenance of Jobstream or its other older trust, corporate services and fund administration software products. However, this long-standing customer concluded that the wider rollout of Microgen 5Series across its business will provide significant operational efficiency benefits and reduce operational risk, particularly given the software’s extensive and flexible workflow capabilities, and that the customer will benefit from the ongoing product investment that Microgen continues to make in Microgen 5Series.