SOURCE: Microgen

Microgen

September 21, 2010 08:30 ET

Magnolia Trustees Limited Streamline Trust Administration With Microgen 5Series

LONDON--(Marketwire - September 21, 2010) -  Microgen Financial Systems Division ('Microgen') (LSE: MCGN) has today announced that trust company Magnolia Trustees Limited has gone live with Microgen 5Series Trust Administration. Currently a small team, Magnolia Trustees Limited wants to put in place an IT platform that will support aggressive growth and enable it to compete on an equal footing with larger trust companies. The automation that Microgen 5Series Trust Administration gives the company will allow them to rapidly take on new business and grow their volumes.

"Lots of companies are held back by their IT infrastructure so we wanted to invest upfront in a system that is agile enough to support the big ambitions we have for our business. Putting a system in place now means we won't be distracted further down the line by legacy IT. Technology creates commercial advantage and that's something we're keen to exploit," said Director of Magnolia Trustees Limited: Lic. iur. Sandra C. Vazquez, TEP Master of Finance "Microgen's support of STEP demonstrated to us that they were the right calibre of company to be working with. And we were correct -- it was just a matter of weeks from install to users fully trained."

Through its workflow capability Microgen 5Series Trust Administration will ensure the consistency of business processes, together with the management of all statutory information. Maintaining a proper and consistent workflow ensures that staff are entering entity related information in the same way, every time, meaning that reports generated are accurate. Not only does this help to ensure regulatory compliance but it also generates the financial transparency required to retain control and manage risk.

"Many smaller trust companies feel that they won't be able to tap into software such as Microgen 5Series because they view it as too expensive for them. That's not the case. The charging structure is per user, giving Magnolia Trustees Limited access to the same software as the 'big boys' but at a fraction of the cost," said Douglas Cooper, Head of Business Development, Microgen. "Magnolia Trustees Limited has been exceptionally innovative in their approach to IT and are very clear about what they want to achieve. Not burdened by legacy IT they have made the decision to opt for an IT solution that will ensure their business is nimble but robust."

About Microgen
Founded in 1974 and listed on the LSE (MCGN) since 1983, Microgen is an established leader in the delivery of software, solutions and consultancy services. The Group implements bespoke applications and product software for the world's largest financial institutions, multi-national corporations and public sector organisations.

The Group's portfolio of proven products and solutions, many of which are based on its proprietary Microgen Aptitude technology, enables the intelligent application of technology in a range of sectors including financial services, energy, asset & wealth management, commercial, transport & logistics and public sector.

The Group has offices in Fleet and London in the UK, and international offices in the United States, South Africa, Poland, and Guernsey. For more information, please visit www.microgen.com

Copyright © 2010 Microgen Financial Systems Ltd
Microgen ® Microgen plc
Microgen Aptitude ® Microgen Aptitude Limited
Microgen Aptitude - Patent Pending (Serial No: 1686466) & U.S. Patents Pending

Contact Information

  • For further information please contact:

    North America:
    Meghan Gardner
    Version 2.0 Communications
    +1 617 426 2222
    Email Contact

    Europe and the Rest of the World
    Sophie Hodgson
    Speed
    +44 207 842 3200
    Email Contact