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MUMBAI, India and COLOMBO, Sri Lanka, May 16, 2018/PRNewswire/ –Miles Software, a Fintech specialist in the Wealth, Asset, Portfolio management and Custody business, today announced the Go live of MoneyWare Custody at Hatton National bank, the premier private sector commercial bank in Sri Lanka.
Hatton National bank (HNB) recently launched its custody operations in the country to strengthen its product depth and service offering. Being one of the first local private commercial banks to enter the Custody and Trustee space gives the bank the platform to be in a position to cater to specially cross border clients entering the Sri Lanka capital market.
Mr. Tyrone Hannan, Head –Custody and Trustee Business, adds, “The setting up of the Custody and Trustee business strengthens our offerings and is a testament to HNB’s commitment to providing world class banking solutions to its customers. We were looking at a solution that is robust, scalable, flexible and future-ready architecture to handle both custody management and fund accounting services. Within relatively short period of time, the Miles team put in their 100% effort to achieve the swift Go live.”
Mr. Ruwan-bakmedeniya, CIO, further adds, “The changing business dynamics and the complex custody business framework requires us to meet global standards. It is imperative to have a technology platform that manages the complete life cycle of the global custody business. MoneyWare Custody positions us to do so with the flexibility and sophistication while supporting our need for business innovation.”
“We are excited to welcome HNB to our growing roster of custody clients. It is our utmost privilege to work with the premier bank HNB in Sri Lanka. HNB is now well positioned to be a serious player in the capital market by positioning itself as the local player in the custody and trustee services space,” said Milan Ganatra, CEO Miles Software
Hatton National Bank: A premier private sector commercial bank operating in Sri Lanka with 251 branches spread across the island. The bank has been internationally recognized by the Asian Banker Magazine as the ‘Best Retail Bank in Sri Lanka’ on nine occasions from 2007 to 2016.
Miles Software: A Global Fintech player in the Wealth, Portfolio and the Asset management space. MoneyWare, our flagship product is ranked #1 Private banking solution (IBS Sales League Tables 2016 and 2017, IBS Intelligence, UK).
Nithya K. Mahesh
Source: Miles Software