Singapore firm spreads CBS in Asia

SINGAPORE: A large international financial firm has gone live with Prospero's core banking module for its Asia branches, shares SAGE, a publisher of banking solutions. The client is said to be one of the leading investment banks in the world with a significant share of the Asian wealth management market.

The solution is claimed to provide the client with the platform for accounting and booking security trades, cash, and security transfers. Prospero included the complex posting of the Singapore ACU/DBU, GST reporting and real-time interface with the client's trading systems.

This is the first implementation of Prospero in Asia and shows that Singapore has now become the most important hub for SAGE after Switzerland to serve and support its clients in Asia, it adds.

Patrick Rotzetter, Chief Business Development Officer for SAGE, states: "Prospero's thorough core banking solution is providing our client cost-efficient brokerage services to its customers. Prospero also assisted our client in drastically reducing the overall costs of its brokerage operations by streamlining their processes."

“The solution integrates front-, middle- and back-office systems, thereby filling all needs of portfolio managers, brokers, traders and other financial professionals, such as risk and operations managers. Prospero has multiple modules which cover all aspects of financial operations including Asset Management, Core Operations, Credit Management and Loans, Fund Administration, Independent Asset Management, Private Banking, Trading and Treasury.”