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Mutual Fund has
successfully implemented Intellect GUB. Implemented by Laser Soft
Infosystems (a wholly-owned subsidiary of Polaris Software Lab
Limited), a leading product company in Banking and Financial Services
industry, this deployment will run on a fully integrated
front-mid-back office fund management solution that is available on
latest and superior technology platform. SBI Funds Management (SBIFM)
has migrated its portfolio of around $8.2 billion to Intellect GUB
and will gain double benefits of higher through puts by reduced
manual interventions and significantly better control in a dynamic
regulatory environment. Intellect Mutual is an integrated application
comprising of front, middle and back office operations of a fund
house and is designed for all types of asset management companies viz
MFs, Pension funds, Insurance companies and Unit Trust Management
companies. It is rich in features across all functions and is one of
the most efficient application when compared to the available
products in the marketplace in India that are limited in
functionality.
At SBIFM, Intellect Mutual
is replacing four different applications viz back office and fund
accounting system, front office system, cash management system and
risk analytics that were of different technology platforms and
supported by different vendors. Additionally, hardware infrastructure
will also be centralized as part of this implementation. Being an
integrated solution, Intellect Mutual eliminates the need to key in
data between front and back office and also offers greater
flexibility through parametrization. The management of master data is
easy and there is a common framework for authorizing any entry in the
system. The solution has a built-in NAV computation module that
incorporates all current regulatory needs. The system also provides
run time limits and breaches functionality for strengthened
compliance.
Speaking on the occasion
Subhojit Roy, VP-IT, SBI Funds Management said, “We are a large
fund house with six million investors, managing large AUM under
different asset classes. We chose Intellect Mutual on account of
better technology platform and advantages of an integrated solution
for the entire fund management. This all-in-one solution is business
friendly and offers better flexibility through parametrization
framework. We believe that this new technology platform will lead to
enhanced productivity, reduce cost of operations and help us manage
our regulatory environment better.” Commenting on successful
implementation Suresh Kamath, MD, Laser Soft Infosystems said, “We
are happy that one of the top 10 mutual fund houses, backed by
country's largest bank, has gone live with Intellect Mutual. From
our perspective, this solution is an efficiency enhancer; a fully
integrated solution that is built on superior technology and
flexibility. It offers the benefit of best price to performance ratio
when compared to any available solution in the marketplace.”