The announcement follows a thorough evaluation process and detailed proof of concept, with AHAM Capital then selecting Temenos Multifonds due to its ability to assist its long-term growth. By leveraging Multifonds, AHAM, which is an asset management company based in Malaysia that serves the wealth demands of corporates, institutions, pension funds, government-linked firms, high-net-worth individuals, and the mass affluent, is set to be able to automate its end-to-end operations through a multi-asset and multi-currency solution. In addition, Temenos Multifonds aims to improve AHAM’s traditional businesses whilst assisting Islamic funds based on Shariah standards via the service’s flexibility in a chart of accounts, posting rules, and naming conventions.
The initiative comes just a few days after Valu-Trac, a UK-based management company, selected Temenos Multifonds SaaS to develop its Fund Administration and Transfer Agency business. The strategic agreement enabled Valu-Trac to replace its in-house on-premises systems with the end-to-end solutions Temenos Multifonds Global Accounting and Multifonds Global Investor to scale its operational efficiency through automation on a single platform.
Leveraging the Multifonds SaaS solution is set to enable AHAM to take advantage of the flexibility delivered by a cloud-based deployment and full management of the application, mitigating the need to utilise in-house software. Additionally, AHAM can connect to surrounding applications in the future with standard Multifonds APIs.
Furthermore, representatives from AHAM Capital commented on the announcement, mentioning that with Temenos’ solution, their company can simplify its end-to-end operations, gain high STP rates, and assist its long-term expansion plans by offering new products, including digital assets and ETFs. Also, the initiative focuses on improving service quality and facilitating client growth in Malaysia’s financial markets.
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