NEW YORK, Jan. 13 /PRNewswire/ -- Vitech Systems Group, a leading provider of fund administration software, announced today that Standard Chartered Bank (SCB) has selected Equitrak as a new Transfer Agency solution. Standard Chartered will use Equitrak for investor servicing activities associated with its multi-market Fund Services business in Asia. SCB presently uses Equitrak for its regional private equity and hedge fund administration offering. Following this success, SCB has decided to extend the use of the Equitrak application to support traditional markets commencing with Indonesia and Vietnam.
"We selected Equitrak based on the product's inherent efficient and flexible features. Equitrak enables us to efficiently undertake Transfer Agency, Private Equity and Hedge administration on a single platform across multiple markets -- a truly one stop integrated solution that allows us to enhance our client experience," said Alastair Pow, Global Product Head, Fund Services at SCB. "We have been encouraged by Vitech's willingness to support our rapidly growing business model across our unique markets with multiple language requirements."
Equitrak will be used by SCB for both its traditional and alternative clients covering shareholder registration, subscription and redemption processing, valuation maintenance, compliance monitoring, reporting and more all in a very high volume environment.
"We are so pleased that Standard Chartered Bank has chosen Equitrak as its new Transfer Agency Solution. This is a great endorsement from a premier organization. Standard Chartered is a great business partner and we look forward to a very successful implementation," said Frank Vitiello, President of Vitech.
Equitrak is a multilingual, multi-GAAP, multi-currency, highly scalable administration solution. Equitrak clients around the world use the software for a diverse array of fund administration, partnership accounting and investment management needs.
About Standard Chartered Bank
Standard Chartered PLC ranks among the top 25 companies in the FTSE-100 by market capitalisation. The London-headquartered Group has operated for over 150 years in some of the world's most dynamic markets including Asia, Africa and the Middle East. SCB employs more than 70,000 people. For more information, please visit: www.standardchartered.com.
About Vitech Systems Group, Inc.
Vitech Systems Group, Inc. is a leading provider of software and services to the alternative asset community. The company's clients include fund sponsors, banks, institutional investors and third party administrators across the globe. For more information about Equitrak visit www.vitechinc.com or e-mail email@example.com.
SOURCE Vitech Systems Group, Inc.