News - 2017
11th December 2017
One of South Africa’s largest banks selects Microgen 5Series to support its fiduciary operations.
The Channel Islands based subsidiary of the bank provides Fiduciary Services, International Trusts and Companies, Foundations and Family Office services to its sophisticated private client and corporate client base involving multiple jurisdictions.
Following a detailed assessment of a number of systems, Microgen 5Series was selected. This organisation concluded that Microgen 5Series will provide significant operational efficiency benefits and reduce operational risk, as well as providing a platform to support the growth plans of the business. The integrated Tax reporting capabilities, comprehensive reporting and system flexibility will assist the business with its on-going regulatory requirements across its multiple jurisdictions. This customer was also comforted in Microgen’s experience in moving customers from Microgen 4Series to Microgen 5Series along with Microgen meeting the banks vendor requirements.
11th November 2017
More Microgen 5Series customers have added the Document Store module.
Following Microgen’s continued investment in Microgen 5Series and the Document Store module, two more Microgen 5Series customers have recently 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.
12th October 2017
A multi-office, leading independent financial advisory group based in Mauritius chooses to upgrade from Microgen Elements to Microgen 5Series
This group of international financial intermediary companies, with over USD 2 billion in investment programmes, provides sustainable investment solutions for India and other Emerging Markets.
This group has made the decision to upgrade to Microgen’s market-leading Trust Administration and Corporate Services Software, Microgen 5Series. This upgrade will allow them to take advantage of the advanced functionality, flexibility and configurability that modern software can provide which will, in turn, enable them to streamline processes, reduce risks and costs and improve business efficiency. Having observed other Microgen customers successfully upgrading to Microgen 5Series the group has complete confidence that the upgrade process will run smoothly to enable them to get a flying start to 2018.
11th October 2017
A Bahamas based business services company selects Microgen 5Series to assist with its continued growth.
An independent owner managed Bahamas based business services company dedicated to providing comprehensive bespoke, client driven solutions to businesses, trust, fund and family office structures selects Microgen 5Series to replace its legacy systems and manual processes to assist with its growth plans.
The company which offers services for Companies, Foundations, Trusts, PTCs and Investment Funds concluded that Microgen 5Series would offer significant benefits to the business which operates through a network of partners across multiple jurisdictions.
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 select Microgen 5Series.
5th October 2017
Microgen Welcomes new Chief Operating Officer
Microgen is delighted to welcome Robert Browning to Microgen Financial Systems (“Microgen”) in the role of Chief Operation Officer (‘COO’), based in our Fleet, Hampshire, UK office.
Robert is moving to Microgen from Finastra (the third largest fintech software provider globally), which was formed in 2017 by the merger of UK banking and capital markets software vendor Misys and the Canadian payments and fintech software vendor D+H. Prior to that Robert worked at Fiserv, a substantial US-headquartered financial services software vendor. Robert started his career as a Consultant before becoming Delivery & Support Manager, then Director of Professional Services and most recently General Manager. As a result, he brings substantial experience of running customer-focused teams within financial services software businesses.
As COO, Robert has senior management responsibility for the customer-facing side of Microgen’s business and is responsible for: Account Management, Professional Services, Customer Support and Product Strategy.
Having spent most of his life living in the Reading, Berkshire, UK area, he and his family took a world tour in 2010 and spent 5 years living and working overseas: first in Singapore and then the USA. However, the pull of family, friends and cricket saw Robert return to the UK in 2015.
28th September 2017
Microgen Welcomes New Chief Technical Officer
Microgen is delighted to welcome Joe Sefton Jenkins to Microgen Financial Systems (“Microgen”) in the role of Chief Technical Officer (‘CTO’), based in our Fleet, Hampshire, UK office.
Joe is moving to Microgen from Fiserv UK, part of Fiserv Inc., a “Fortune 500” financial services-focused software company. In his most recent role, Joe was responsible for the development and ongoing maintenance of Fiserv’s financial crime risk management portfolio, including their Anti-Money Laundering and payment fraud detection product lines. He brings a wealth of experience of managing development teams to design, create and deliver world-class enterprise scale solutions for the financial services industry.
As CTO, Joe will make a significant contribution to the continued success of Microgen and has senior management responsibility for the strategic technical direction of the firm’s solution portfolio, including Microgen 5Series, our market-leading trust, corporate services, and fund administration software. Joe will also drive excellence in technical innovation and agile working practices to better meet the challenges faced by our customers in a rapidly evolving market.
Joe holds a BSc in Geophysics from Leeds University and post-graduate research experience from the University of Bristol, reflecting a lifelong interest in seismology and earth sciences. He loves cycling, cricket, rugby and travelling and is married with two young children
14th September 2017
One of the top 5 Canadian banks selects Microgen 5Series for its Caribbean trust and corporate services operations
This Canadian bank, that provides company management, foundations and wealth structuring services, undertook a detailed evaluation of software solutions and has today signed contracts for Microgen 5Series. As a large bank with strong governance, partnering with a large, publicly listed, financially strong and transparent software vendor was a key aspect of its vendor and software evaluation process. Microgen ticked the vendor and long-term partnership boxes, whereas other smaller privately owned software companies simply presented far too much risk. Microgen was referred to as the only credible vendor in this market for a bank of this size.
In addition to meeting the banks high vendor standards, Microgen 5Series provided the best fit to its wide-ranging functional requirements and provided the flexibility the bank required to ensure that it can operate as desired, rather than having to adapt its business to the way the software works.
With the increased pace of change and regulation (e.g. FATCA, CRS, UBO Reporting and GDPR), the bank took comfort in both the current capabilities of Microgen 5Series and Microgen’s significant ongoing investment. Integration to other systems within the bank was also important, and the comprehensive integration capabilities supported by Microgen 5Series provides a solution to help the bank increase automation.
The bank also placed significant value on the high levels of service and support delivered by Microgen over the past 15+ years during which it has been a Microgen customer. Microgen’s unique knowledge of both Microgen 4Series, its current system, and Microgen 5Series, its chosen new system, will significantly help to reduce the risk, effort and cost of migrating its historic data.
11th July 2017
A corporate, fiduciary & fund services provider in Mauritius selects Microgen 5Series.
This fast-growing company delivers tailor made business solutions to a diverse global clientele with a focus on providing a world class standard of service and building lasting client/partner relationships. Following a period of rapid growth, this organisation recognised the need to improve operational efficiency and control through investment in technology.
Areas highlighted as being of particular importance were comprehensive and configurable functionality, strong management reporting and effective system controls, all of which will lead to improved operational efficiency as they continue their rapid expansion plans. Microgen 5Series successfully met and exceeded these requirements with an exemplary user experience.
Microgen’s corporate size, global reach, financial strength and stability gave them additional confidence that their investment in this technology was safe and secure. The ability to work with an established local Microgen partner in Mauritius, BDO IT Consulting, that understands the nuances of the local market and can support them through implementation and beyond, reassured them that there will be a smooth transition to Microgen 5Series.
5th July 2017
Microgen awarded Megabuyte’s Fastest Riser Award
Microgen is pleased to announce that it has been awarded fastest riser in the Megabuyte Quoted25 awards which identify the top performing UK-based public companies.
Megabuyte, an independent analysis company for mid-market technology companies, assesses relative financial performances using 7 KPIs and then, after applying a weighting on each, provides a score out of 100. This provides an additional measure of company performance to sit alongside share price.
Simon Baines, Microgen Financial Systems CEO said “We are delighted to receive a Megabuyte award. These awards are highly respected both within the technology industry and with those looking to invest in a public company. It proves that our business strategy is successfully delivering real results and that we are continuing to outperform the competition.”
8th June 2017
A private bank headquartered in Cayman selects Microgen 5Series for its fiduciary business.
This private bank provides full tailor-made fiduciary services for trust and corporate structures together with custodial services and strategic investment management solutions. Following a detailed assessment of several systems, this bank concluded that there was a strong cost benefit case for an investment in Microgen 5Series to replace Primacy. Microgen 5Series will provide significant improvements in operational control and efficiency across its administration business and in management control and reporting.
The bank took comfort in Microgen’s transparent financial position as a publicly listed company, its strong global and Caribbean presence and its commitment to this market through significant ongoing investment in 5Series to meet regulatory and other market demands.
31st May 2017
A Cayman based financial services group, providing a wide range of financial services to domestic and international clients, selects Microgen 5Series.
As a fast-growing company with a focus on providing quality customer service, ensuring that the business had a software solution to support future expansion was a key decision for 2017. After a thorough review of software available on the market Microgen 5Series was chosen as the best option to replace their legacy system and manual processes.
Microgen 5Series has many stand-out features that signified it was the best choice to meet the priorities of the business, including the comprehensive support for compliance with extensive regulatory and tax reporting functionality. Microgen’s strong presence in the Caribbean also ensured that they felt comfortable that there was a wealth of local knowledge within Microgen to support their needs.
Microgen 5Series will enable this organisation to increase efficiency and control within the business and meet its core philosophy of providing quality customer service, supported by functionality such as the client web portal that will allows this organisations’ clients secure Internet access to view their wealth online.
18th April 2017
A leading global independent Multi Family Office provider of wealth management and advisory services selects Microgen 5Series.
Known for creating innovative solutions for the corporate and private sector and a specialist in emerging markets for Africa, Latam and Eastern Block sectors, this organisation recognised the need to replace its ageing legacy software and the growing number of inefficient manual processes with a modern and comprehensive single software solution.
The need for modern technology to provide operational consistency and efficiency became a key priority for this organisation as it continued to expand its global footprint. Increasing regulations such as FACTA and CRS were also key drivers for investment in new software.
Microgen 5Series will be installed in this organisation’s Mauritius office with remote access provided to support its global network of offices in the Caribbean, Europe and Asia. Microgen’s partnership with BDO IT Consulting in Mauritius and BDO’s local implementation and support consultants were consider a significant benefit.
12th April 2017
A Bermuda based boutique trust company selects Microgen 5Series to replace its multiple systems.
A Bermuda based boutique trust company has selected to integrate its software solutions, moving from Jobstream, Primacy and an additional 3rd party solution, to Microgen 5Series, following a detailed review of systems in the market and its business and technical requirements.
The company concluded that the benefits offered by Microgen 5Series will provide significant improvements in operational control and efficiency across its administration business and in management control and reporting.
In addition to the strong reputation of Microgen and Microgen 5Series in the region, the business was keen to ensure that it was implementing administration software from a publicly listed, large stable software vendor that will continue to invest to meet the changing needs of the market in the future.
30th March 2017
A specialist international offshore fiduciary provider and part of a large banking group, selects Microgen 5Series to support its fiduciary operations.
This Guernsey-based organisation provides a wide range of fiduciary services, from private trust and company facilities for individuals or families to corporate structures, such as Employee Benefit Trusts, Pension Plans and Special Purposes Vehicles for multi-national companies.
This long-standing customer concluded that following a detailed assessment of several systems on the market, Microgen 5Series will provide significant operational efficiency benefits and reduce operational risk, as well as providing a platform that will support tax reporting under CRS, UBO reporting, and help the business meet its other regulatory requirements. This customer was also comforted by Microgen’s large and rapidly growing global customer base and ongoing investment in Microgen 5Series.
29th March 2017
A Guernsey based award winning, top 30 accountancy and business advisory firm selects Microgen 5Series.
A Guernsey based fiduciary company, that prides itself on its tailored approach for its clients, has selected to move from Jobstream to Microgen 5Series following a detailed review of systems in the market.
This organisations decision to implement Microgen 5Series was an easy choice due to the comprehensive capabilities of Microgen 5Series, including its powerful workflow, extensive management reporting and support for FATCA and CRS reporting, coupled with the comfort it gained from the stability offered by Microgen as a publicly listed company in comparison to the shrinking number alternative smaller privately owned competitors.
Microgen’s proven migration approach to help customers move from Jobstream to Microgen 5Series was also a key factor in this organisation selecting Microgen and Microgen 5Series.
17th March 2017
The largest independent trust, fund and family office service provider in Asia selects Microgen 5Series.
This long-established market leader has decided, after a thorough review of several software packages on the market, to implement Microgen 5Series to support its Trust business operations in Singapore, Hong Kong and Labuan.
Microgen 5Series provides a comprehensive and flexible solution that supports the Trust administration and accounting needs of the business in a single solution. The intuitive user-interface, powerful workflow to guide staff and local Singapore-based consultants and support staff (provided through Microgen’s partner in Singapore, BrightSword) were important factors in this organisations decision to implement Microgen 5Series.
Microgen has many clients in Asia and so the expertise garnered from previous installations gave further comfort to this organisation that it is working with a supplier that understands the challenges in their market.
9th March 2017
A multi-office Private Trustee Company, selects Microgen 5Series to replace Jobstream for its business.
A Private Trustee Company that provides trustee, administration and incorporation services for wealth preservation, asset protection, financial and estate planning has today signed contracts for Microgen 5Series.
The comprehensive functional capabilities of the software, including support for reporting under the Common Reporting Standards, coupled with its intuitive user-interface were important factors in this organisation selecting Microgen 5Series.
Microgen has no plans to cease support and maintenance of Jobstream. However, this long-standing customer concluded that following a detailed assessment of several systems on the market, Microgen 5Series will provide significant operational efficiency benefits and reduce operational risk, particularly given the software’s extensive and flexible workflow capabilities. This customer was also comforted by Microgen’s global customer base and ongoing investment in Microgen 5Series.
3rd March 2017
Microgen Financial Systems Sponsors Guernsey Football Club for Crucial Match
Microgen is delighted to announce that it is supporting the Guernsey Football Club for its crucial match against Three Bridges on Saturday 4th March.
” Microgen’s generous support has made it feasible for the club to offer free entry for all to Saturday’s game which is far bigger in the context of our season. We hope that by offering free entry, it will encourage people to get behind the team as our season ticket holders have and we can achieve one of our biggest – if not THE biggest – home crowds of the season, and that if the team can respond with a big performance and a victory it will inspire bigger crowds for the rest of the season, as the lads look to make sure we are still a Ryman South team in the season to come” commented GFC director and communications manager Nic Legg. “
“Microgen Financial Systems is delighted to be supporting Guernsey Football Club with its initiative to open the turnstiles for free for this crucial game,” said Microgen’s Head of Operations Kevin Melrose. “As a business with a long-standing presence in Guernsey and a large customer base in the Channel Islands, it is the perfect opportunity for us to give something back to the community, especially on an occasion as important as this.”
2nd March 2017
Microgen Financial Systems acquires Primacy Corporation
Microgen Financial Systems is pleased to announce that it has acquired Primacy Corporation, a wealth management software provider based in Toronto, which will be integrated into the Microgen Financial Systems business. The company’s software is used by more than 15 customers across a range of locations including Cayman, Barbados, the Isle of Man and South Africa. The acquisition is in line with Microgen Financial Systems’ strategy 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. Primacy represents the fifth acquisition within this sector since December 2014, and provides Microgen with an increased client and recurring revenue base.
1st March 2017
Barbados-based corporate services provider selects Microgen 5Series
This specialist provider of corporate services administration services has selected Microgen 5Series to support its Barbados-based business and provide increased management control and efficiency. As a fast growing company there were a number of factors that affected their purchase decision including the comprehensive and intuitive entity management and accounting functions, automated client structure diagrams, automatic document generation facilities, support for final accounts production including notes to the accounts, extensive global tax reporting capabilities and the strong audit trail facilities which will help support compliance.
In addition to the strong reputation of Microgen and Microgen 5Series in the Caribbean, the business was keen to ensure that it was implementing administration software from a vendor that has an extensive and comprehensive roadmap that will help support its business for many years to come.
19th January 2017
Microgen and its Mauritian partner, BDO IT Consulting, hosted a conference in Ebène, Cyber City, Mauritius, focused on the use of technology to help increase control and efficiency and reduce risks.
Microgen and BDO IT Consulting hosted a conference at the Hennessey Park Hotel that attracted a large number of industry professionals from the trust, corporate services and fund administration markets in Mauritius. Issues facing wealth these organisations, both in Mauritius and globally, were presented and discussed. Microgen also presented how investment in modern technology can provide a solution to many of these issues. Microgen has been supporting customers in Mauritius for over 15 years, and despite recent tough economic conditions and the impact of the double taxation treaty with India, is experiencing strong growth in this region for it Microgen 5Series software from those organisations looking to improve operational control and efficiency, and reduce risks and costs in their business.
13th January 2017
A Singapore-based provider of private wealth administration services selects Microgen 5Series.
A Singapore-based provider of private wealth and family office administration services has today signed contracts for Microgen 5Series. The comprehensive integration capabilities provided with Microgen 5Series, its user-friendliness, and local Singapore-based consultants and support staff (provided through Microgen’s partner in Singapore, BrightSword) were important factors in this organisations decision to implement Microgen 5Series. This organisation also took comfort in the wide-spread adoption of Microgen 5Series by Singapore-based financial services organisations and its ability to support local regulatory reporting requirements.
3rd January 2017
Microgen partners with BrightSword Technologies Pte Ltd. in Singapore, Hong Kong and Malaysia.
Microgen is pleased to announce a partnership with BrightSword in Singapore, Hong Kong and Malaysia. 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.
This partnership is aimed at providing local consultancy and first line support services to Microgen’s existing and prospective customers across Asia. BrightSword Technologies Pte Ltd, Singapore was incorporated as an independent software development and services unit in 2005 to cater to the growing outsourcing needs in the Asia Pacific region. BrightSword provides IT consulting, project management, business analysis, application development, and support and maintenance services from Singapore.