MAKATI, Philippines, August 23, 2016 /PRNewswire/ --
Miles Software, a technology specialist in the wealth, asset management, trust and custody space, today announced that Land Bank of the Philippines, one of the top 5 banks in Philippines, has gone live with Money Ware Custody Solution.
Land Bank of the Philippines launched its custody operations in the country recently. This license has enabled the bank to establish a fully-equipped custodian service, offering tailored services for a wide spectrum of financial activities with a comprehensive suite of products, services and tools.
Ms. Josephine G. Cervero, Senior Vice President and Trust Officer, Land Bank of Philippines - Trust Banking Group (LANDBANK -TBG) adds, "Being one of the top five banks in the country, it is extremely important to cater to our customer experience by providing a unique value proposition. We required a solution that is robust, scalable, flexible and future-ready architecture as well as powerful functionalities such as safekeeping and reporting of all transactions to clients and their end customers. It is indeed a milestone for LANDBANK - TBG to be accredited by the Bangko Sentral ng Pilipinas to offer 3rd party security custody and registry services. LANDBANK -TBG aims to support regulatory requirements for capital development through the custody of marketable or tradable securities.
"The changing regulatory framework and the complex custody business framework requires the bank to meet global standards. MoneyWare Custody is a proven solution with high scalability and flexibility. We are sure with this deployment, the bank is well poised to leverage its existing investments in technology," said Milan Ganatra, CEO Miles Software.
About Land Bank of the Philippines:
Landbank of the Philippines is a government financial institution with a nationwide network of 362 branches and 1, 568 ATMs as on 30 June, 2016. It also ranks among the top five commercial banks in the country in terms of deposits, assets, loans and capital.
Land Bank of Philippines, - Trust Banking Group has been in the trust services business since February 18, 1975, in line with the banks social mandate of promoting countryside development and provide support services in financial transactions for capital formation and development. Equipped with its experience and expertise, balanced with prudence, diligence and top management support, LANDBANK - TBG continuous to provide effective portfolio management and prompt delivery of services to its clients.
About Miles Software
Miles Software is a global technology solutions leader in the Wealth, Asset, Trust and Portfolio Management space. The company is ranked No.1 in the prestigious IBS Sales League table 2016, a flagship rating barometer of IBS intelligence. Miles Software enables more than 300 financial services clients across 17 countries to stay ahead of the innovation curve.
Building on more than 17 years of experience, Miles Software is a techno business partner delivering excellence and value to financial services globally. Today, Miles has a market leadership in the Private Banking space and its' flagship product MoneyWare® covers the complete life cycle of the Private Banking business including CRM, Portfolio Management, Risk Management, Revenue Management, Mobility and Client Portal. Miles also has a very strong capability in Custody, Collateral base Lending, Fund Compliance, Portfolio Risk and Performance Management.
Ms. Nithya K Mahesh
VP - Marketing, Channels & Alliances
SOURCE Miles Software Solutions