SCB presently uses Equitrak for its regional private equity and hedge fund administration offering. SCB has decided to extend the use of the Equitrak application to support traditional markets commencing with Indonesia and Vietnam.
Vitech Systems said that Equitrak is a multilingual, multi-GAAP, multi-currency and scalable administration solution. It’s clients around the world use the software for a diverse array of fund administration, partnership accounting and investment management needs.
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 in a very high volume environment.
Alastair Pow, global product head of fund services at SCB, said: “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. We have been encouraged by Vitech’s willingness to support our rapidly growing business model across our unique markets with multiple language requirements.”
Frank Vitiello, president of Vitech, said: ”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.
New York-based Vitech Systems Group is a provider of fund administration software.
