Miles Software Enters Into Strategic Partnership With State Bank of Mauritius Group to Launch MoneyWare Across the Bank and the NBFC

MUMBAI, India, DUBAI, United Arab Emirates and PORT LOUIS, Mauritius, August 13, 2018 /PRNewswire/ --

Miles Software, the Global Fintech giant in the Wealth, Asset, Portfolio management and Custody business, today announced the strategic partnership with SBM Bank (Mauritius) Ltd (SBM) and SBM (NBFC) Holdings Ltd to launch their flagship technology platform, MoneyWare, across the bank and the NBFC.

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SBM is among the country's largest banks in Mauritius. The partnership combines SBM's vision to be the leading and the most trusted financial services provider in Mauritius and beyond, Miles capital markets expertise, MoneyWare platform's capability in Private Wealth, Custody, Valuation and Accounting, Registrar Services, Asset Management and Portfolio Management for Brokerage Clients.

Samir Khare, CIO, SBM (Mauritius) Ltd, adds, "SBM has established its leadership position in the regional financial services industry, and with this strategic engagement with Miles Software, the bank will be able to reinforce this position with even more innovative solutions and higher standards in customer service. We are confident that the MoneyWare suite, some of the modules we have already implemented and are live, will enable SBM to offer products & services to its customers and a better banking experience. This is a long standing strategic relationship with the Global Private banking technology company and we are encouraged by their operational excellence, solution scalability, thought leadership and commitment of the team."

Milan Ganatra, CEO Miles Software, adds, "SBM is a strong brand that is truly representative of their offline and online customers. We stay committed to our strategy and execute our strategic initiatives in a disciplined manner which will bring in more business and profitability to the bank. Miles Software is investing toward the establishment of a strong footprint in continental Africa while laying the foundation for a better access."

SBM Group: SBM Holdings Ltd (i.e. the Group entity) is a financial investment holding company listed on the Stock Exchange of Mauritius. With a market capitalization of MUR 23.4 billion as at 30th April 2018, SBM Holdings Ltd is the third largest listing in Mauritius. SBM Holdings Ltd is engaged in banking, non-banking financial services as well as non-financial investments. The Group is present in Mauritius, Kenya, India and Madagascar.

Miles Software : A Global Fintech giant in the Wealth, Portfolio and the Asset management industry. MoneyWare, our flagship product is ranked #1 Private banking solution (SLT 2016-18, IBS Intelligence, UK).

Press Contact:
Nithya Mahesh
nithya.mahesh@milessoft.com