New FundsMX(TM) solution is a cost effective, automated transaction bridge between Fund Distributors and Fund Houses
HONG KONG, Oct. 8 /Xinhua-PRNewswire-FirstCall/ -- WealthCraft Systems Inc (OTC Bulletin Board: WCSY), a leading IT solution provider for financial institutions, has launched FundsMX(TM), a new one-stop "automated mutual funds platform" advancing Asia’s booming funds distribution business.
The FundsMX(TM) platform provides fund distributors such as banks and IFAs a cost effective, single access point enabling automation of mutual fund transactions with an extensive range of SWIFT enabled fund houses.
FundsMX(TM) was officially launched at SWIFT’s APAC regional MasterClass in Singapore on 7 October.
WealthCraft CEO Kelly Tallas said: "Automating Asia’s booming fund business is no small task, but it is becoming increasingly urgent".
"Asian investors have poured over US$100 billion into local and offshore funds this year and the industry expects the region’s mutual funds sector to continue to grow dramatically".
"Yet the Asian fund industry is also facing major operational challenges, such as human errors in processing, retaining quality & experienced staff, and no common format for automation."
The newly launched FundsMX(TM) platform responds with major benefits beyond its obvious ‘one stop’ solution.
"Automating mutual fund transactions reduces the complexity, cost and risk associated with manual processing, enabling financial advisors to spend more time in value-added customer service rather than faxing orders and compiling statements," said Mr Tallas.
FundsMX(TM) will enable direct access to an extensive range of local and off-shore investments, including the majority of Hong Kong and Singapore Authorized Funds.
It also incorporates a Portfolio Management Service with client access to an automated, consolidated view of portfolio holdings.
Distributors accessing the mutual funds platform can automate mutual fund transactions using WealthCraft’s FundsMX(TM) for transactions such as subscriptions, redemptions and switch orders through user-friendly input screens.
For distributors who already have a mutual funds trading platform, industry standard web services can be used to send and receive SWIFTNet fund messages.
Distributors utilizing proprietary file formats can easily and securely interface with WealthCraft’s FundsMX(TM) where the data is automatically translated into corresponding SWIFTNet fund messages.
Detailed solution information is available at http://www.wealthcraft.com
About WealthCraft
WealthCraft Systems Inc. (OTC Bulletin Board: WCSY) headquartered in Hong Kong SAR, is the parent company of WealthCraft Systems Ltd, an information technology company that designs, develops, markets and supports a flexible, scalable and secure technology platform for wealth management services and financial institutions including investment advisory firms, securities brokerage firms, retail and private banks, mutual fund companies and insurance companies.
WealthCraft’s Advisor Workbench enables professionals to develop their wealth management business while its ATOMS Order Management provides an integrated back-office system providing order execution, order management and portfolio and commission management. WealthCraft’s products facilitate seamless implementation of the industry standard SWIFTNet Funds solution for automated mutual fund transactions.
All product and company names herein may be trademarks of their respective owners.
This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on WealthCraft management’s current expectations and are subject to risks and uncertainties and changes in circumstances. All forward-looking statements included in this press release are based upon information available to WealthCraft as of the date of the press release, and it assumes no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise. Further information on risks or other factors that could affect WealthCraft’s results of operations are detailed in the filings of WealthCraft with the SEC.
For further information, please contact:
Mr. Cliff Harkins
WealthCraft Systems Limited
Tel: +852-3586-8232
Email: cliff.harkins@wealthcraft.com
Ms. Jennifer Shay
Upstream Asia Limited
Tel: +852-2973-0222
Email: Jennifer.shay@upstreamasia.com
.
