02:22 PM
Investment Management Newsflashes
Suncorp Group Automates Cash Processing for Wealth Management
Suncorp, an Australian bank and general insurance group with over AUD$11 billion funds under management, has expanded its wealth management platform, DSTi HiPortfolio, to include modules for Cash Import and export procedures. Suncorp, which has been using DSTi's HiPortfolio solution for portfolio administration for 15 years, will add the HiPortfolio IDX Money Market Transaction Import module, the IDX Cash Transaction Import module and the Off-Market Transaction Import module to import the cash movements associated with the bank's wealth management products and futures transactions. Adding the modules reduced processing the time for managing capital and money market transactions by two to three hours daily, said Suncorp's investment operations manager, Michael Nightingale, in the press release.