A major Singapore-based asset manager has inked a two and a half year contract extension and consulting agreement with StatPro Group to migrate from StatPro Seven to the cloud-based StatPro Revolution platform.
StatPro group CEO Justin Wheatley commented: “We are delighted by this client conversion and uplift from StatPro Seven to StatPro Revolution. Singapore is a major hub for asset management in Asia and the endorsement of our Cloud-based solution, StatPro Revolution, by a major Singapore based asset manager is an important step in our growth in Asia.
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“Our highly scalable, super-fast and precise cloud-based services are taking the asset management industry into the next generation of technology. With price pressure and regulation forcing our clients to improve efficiency and their quality of service, while cutting costs, we are well placed to support all our clients.”
The Singapore Monetary Authority (MAS) in August last issued an update to its outsourcing guidelines, stating the benefits of cloud computing to financial service institutions in Singapore.
The guidelines stated that: “MAS…recognises that institutions may leverage on such a service to enhance their operations and service efficiency while reaping the benefits of cloud services’ scalable, standardised and secured infrastructure.”
