AHAM Capital is replacing legacy, on-premises systems with Temenos Multifonds Global Accounting on SaaS to drive scalable automation and future growth in the Malaysian market
GRAND-LANCY, Switzerland, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Temenos (SIX: TEMN) today announced that AHAM Capital has selected Temenos Multifonds Global Accounting delivered as SaaS to drive scalable automation and future growth in the Malaysian market.
Founded in 2001 and majority owned by CVC Capital Partners, AHAM Capital has grown to become one of Malaysia's leading asset management firms. The firm serves the wealth needs of corporates, institutions, pension funds, government-linked companies, high net worth individuals and the mass affluent, with over RM88 billion in Assets Under Administration and more than 160 funds.
Temenos Multifonds was selected after a rigorous evaluation process and detailed proof of concept, recognizing Multifonds as the best solution to support AHAM's growth over the long-term. Using Multifonds, AHAM will be able to automate its end-to-end operations with a multi-asset and multi-currency solution. Temenos Multifonds can support AHAM's traditional business while at the same time supporting Islamic funds in accordance with Shariah standards, via Multifonds' flexibility in chart of account, posting rules and naming conventions.
The Multifonds SaaS solution will allow AHAM to benefit from the flexibility offered by a cloud-based deployment and full management of the application, removing the need to maintain software in-house. AHAM will also be able to connect to surrounding applications in the future with standard Multifonds APIs.
Allen Woo, Chief Technology Officer, AHAM Capital, commented: "We are excited to partner with Temenos Multifonds for our fund accounting system replacement. Temenos' fully automated solution empowers AHAM to streamline end-to-end operations, achieve high STP rates, and support our long-term expansion plans by enabling new products such as digital assets and ETFs. At the same time, it will enhance service quality and foster client growth in Malaysia's fast-evolving financial markets."
Oded Weiss, Managing Director, Temenos Multifonds, said: "We are delighted to be chosen and work closely with AHAM on this strategic project. As a recognized leader in the Malaysian asset management industry, AHAM sought a future-ready solution, and we are confident Multifonds SaaS will meet their aspirations. By enabling a truly client-centric asset management service, this partnership will support AHAM in driving innovation and accelerating business growth. We look forward to building a strong and fruitful collaboration with AHAM."
About Temenos
Temenos (SIX: TEMN) is the world's leading open platform for banking. We serve clients in over 150 countries by helping them build new banking services and state-of-the-art customer experiences. The Temenos open platform helps our top-performing clients achieve return on equity three times the industry average and cost-to-income ratios half the industry average.
For more information, please visit www.temenos.com.
