Quintillion picks Oceanus solution
Release Date: 03 July 2007
Quintillion has chosen technology specialist Oceanus to provide a Case Management Solution (CMS) for its fund and customer administration processes.
The new system, which is due to go live in September this year, will help Quintillion streamline and achieve increased management and control of these functions.
Quintillion is a full service hedge fund administration specialist and the company will initially be implementing the Oceanus solution to focus on investor servicing; the investor services team is the primary provider of guidance and support to the funds investors and manages the entire application, subscription, and investor reporting process.
Quintillion ultimately intends to extend the Oceanus solution to other areas within their business supporting NAV calculation, anti-money laundering checks and performance fee calculation and communications with clients helping to insure independent fund administration within appropriate compliance regulations.
Quintillion chief executive officer Joan Kehoe said: "One of the most important parts of our job is to provide our customers with the best and most accurate information possible, especially as we are dealing with very large sums of money. Therefore we wanted a system that would have the flexibility to service our 'high touch' administration requirements.
Kehoe added: "Before we chose Oceanus we looked at four other vendors and while most systems allowed us to search for a document and compile the information, we also needed to demonstrate strict compliance with regulations and legal processes by providing detailed audit trails and reports for our customers. The other systems just did not allow us to provide this depth of reporting or the flexibility to make the system do what we wanted it to."
Phil Hagen, operations director of Oceanus said; "Quintillion is passionate about the way it deploys world class solutions and our ability to deliver a complete, yet flexible solution with defined benefits, on time and budget, was critical to us being chosen. It has also been interesting to work with an organisation that has been able to plan their IT infrastructure from scratch enabling it to expand with the company’s growth and at the same time align it with their business processes."