SICO Funds Services Company B.S.C. (c) chooses Intellect's Capital Sigma to digitise its custody and fund administration

Intellect Design Arena Ltd, a specialist in digital technologies and global leader in financial technology announced today that SICO Funds Services Company B.S.C. (c) (SFS), a leading provider of full range of regulatory support services for funds, Sukuk, Portfolios and other structured financial products has appointed Capital Sigma; Intellect's asset servicing solution suite, to streamline its post-trade operations, allowing the company to meet its growth objectives. The appointment attests to Intellect's position as the leading fintech player in the Middle East for capital markets offerings.

The Capital Sigma solution suite comprises of fund administration, custody and registrar business modules including the functions of clearing & settlements, fund accounting, fee & billing, corporate action, reporting and investor services, client portal and portfolio risk analytics and is set to enhance business processes and the operational efficiency across the company's custody, fund services and investor functions. The system's API-based industry-ready adapters will ensure seamless integration with exchanges, clearing houses and depositories across multiple countries. Additionally, the system's client portal will offer a transparent view of the post-trade lifecycle and self-diagnostic tools. Finally, the system's Portfolio Risk Analytics (PRA) will support the investment managers' strategies by providing real-time data on the impact of portfolio changes.

"We are pleased to have partnered with Intellect to adopt a system that will bolster our custody and fund and administration servicing business," said SFS CEO, Nasser Obaid. "It is crucial in our line of business to have an integrated technology platform able to handle multiple asset classes and that is customisable to allow us to meet the market's evolving needs. This will positively support us in better serving our clients by simultaneously enhancing our processes and operations and allowing us to align our operations with developments in the rapidly growing fintech sector."

"We are delighted to collaborate with SICO Funds Services Company B.S.C. (c) and become their system provider," said TV Sinha, CEO, Intellect Treasury & Capital Markets, Intellect Design Arena Limited. He added, "Our platform will help increase the company's operational efficiency and quality of services, allowing them to integrate a wider range of value-added and sophisticated services that will help them scale their operations and meet their business operations. We look forward to contributing to the overall business growth of the SICO group."

Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.714.2 as compared to the previous close of Rs. 685.6. The total number of shares traded during the day was 129926 in over 5193 trades.

The stock hit an intraday high of Rs. 741.2 and intraday low of 686.45. The net turnover during the day was Rs. 93756682.

Source : Equity Bulls

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