Global Investment Systems, an accounting software provider for the securities and alternative investment industries, announced that MFACT, the company's fund accounting system, has been enhanced to utilize Web Services. MFACT's logic was previously accessed through a graphical user interface, and it recently exposed this business logic via Web Services, which allows applications to dynamically communicate with each other utilizing industry standards such as XML and HTTP. Over 90 processing functions in MFACT have been upgraded and are available to users of both the Advantage and Oracle versions. Other enhancements include redesigned reports, which allow users to view reports in a variety of formats, including Adobe; transaction processing utilizing commit and rollback; XML-enablement of interfaces; a new messaging system that allows for more automated processing and redesigned workflow that pre-validates parameters to insure successful execution of processes.
MedInvest selected DST International's portfolio administration and fund accounting solution, HiPortfolio/3. MedInvest is a specialized investment management company and wholly owned subsidiary of South African private health fund administrator, Medscheme. It chose the back-office solution for its scalability and ability to meet the increasingly complex requirements in the area of investment of funds and the management of cash flows.
Polygon, a London-based hedge fund provider, has licensed the XcitekSolutionsPlus (XSP) software system for corporate actions processing. Polygon uses Beauchamp Financial Technology's FundManager, a portfolio management solution, and will interface it with XSP to streamline Polygon's corporate actions process to improve operational efficiency across its London and New York offices. XSP is SWIFT ISO 15022 compliant and features data scrubbing tools, workflow management modules, Web and ISO messaging for client notification and response capture, and complete entitlement processing. It captures and sanitizes data from multiple vendor sources and custodian data. Through workflow tools, tasks are automatically routed to designated parties to handle the required action. XSP also offers the ability to track event notifications through its Web-based module, eTRAN, by generating notifications to intermediaries for desired elections. Instructions are automatically updated to the back-end system for reconciliation and entitlement processing.