AHAM Capital taps Temenos for Multifonds Global Accounting solution

AHAM Capital, a Malaysia-based asset management firm, has tapped Swiss banking tech vendor Temenos to modernise its fund accounting platform.

The asset manager is overhauling its legacy on-premise systems with Temenos’ Multifonds Global Accounting solution delivered as Software-as-a-Service (SaaS).

Temenos’ Multifonds solution will be used to automate AHAM’s entire operational workflow, offering a unified platform for accounting, asset servicing, valuation, and position keeping.

Moreover, the Swiss vendor says that its platform can support AHAM’s “traditional business while at the same time supporting Islamic funds in accordance with Shariah standards,” while the solution’s cloud-based deployment eliminates the “need to maintain software in-house”.

Founded in 2001 and backed by Jersey-based CVC Capital Partners, AHAM Capital manages more than RM 88 billion ($19 billion) in assets across over 160 funds, serving high-net-worth individuals, pension funds, corporates, and government-linked companies.

Commenting on the new partnership, Allen Woo, chief technology officer (CTO) of AHAM Capital, states: “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.”

AHAM Capital adds to Temenos’ growing list of partnerships this year, which also includes Haventree Bank in Canada, MidWestOne Bank in the US, and Boubyan Bank in Kuwait.