Miles Software, a FinTech solution developer, has entered a strategic partnership with the State Bank of Mauritius (SBM) Group to launch MoneyWare across the bank.
The deal has been made with SBM Bank and SMB’s non-banking financial company and will see the deployment of Miles’ wealth and asset management service MoneyWare.
Miles Software operates three separate products: MoneyWare, its wealth and asset management platform, Investment Pro, a cloud-based portfolio management solution, and Investment Compliance, a regulation support platform.
MoneyWare is an integrated wealth management platform designed to help wealth managers with their front and back office processes. Some of the services provided by MoneyWare include customer relationship management, financial planning tools, order and trade management, robo advisory, portfolio management, revenue and incentive management and mobility solutions.
Its asset management service offers a 360-degree overview of portfolios in order to make more informed investment decisions. Clients using MoneyWare can gain fund accounting workflow software, pension fund administration, and portfolio risk and analytics.
SBM Bank CIO Samir Khare said, “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.”
Earlier in the year, Mauritius set its sights on becoming a FinTech hub and planned to launch a range of incentives to attract companies to the island. One of these plans was the launch of a sovereign fund to deploy seed capital to startups working in the country.
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