Ping An Asset Management Goes Live With HiPortfolio
China-based Ping An Asset Management Corporation (PAAMC), the leading financial service group in China, has successfully implemented DST Global Solutions Investment Management Solutions’ (IMS) HiPortfolio/3 investment accounting platform. PAAMC, under the Ping An Insurance (Group) Company of China, Ltd, deployed DST Global Solutions IMS’ leading solution following PAAMC’s analysis of future business growth potential both in China and overseas.
HiPortfolio/3’s multi-layer architecture will help PAAMC to comply with standards for valuation, reporting, book keeping, performance review and risk control. HiPortfolio/3 covers transaction core and investment data, facilitating the export, re-mining and multi-dimensional analysis of data and statistics. This will help enable PAAMC to generate diverse and customised reports.
Wenjie Yu, PAAMC’s Deputy General Manager and project sponsor commented: “We had to consider a number of key issues before choosing the correct system for PAAMC. The project had to be completed with a new system up and running within the hard deadline of nine months. From an operational and business perspective, this was an immovable target. We also needed the investment accounting part of the solution to be completed and in place before a number of other systems could be implemented. With these considerations in mind, DST Global Solutions was the better option for us.”
Albert Lee, the Director of Ping An Technology commented: “When we selected DST Global Solutions to undertake this project, PAAMC was interested in a system to manage domestic and international portfolios, to improve efficiency as our business grows in scale. It was important to us to be able to access our data in real time, reliably and consistently. The teamwork displayed by both PAAMC’s staff and DST Global Solutions’ Professional Services team has allowed us to complete a challenging project on time.”
The implementation marks the end of a nine-month collaboration between PAAMC’s Finance and IT teams with DST Global Solutions IMS’ Professional Services team. During the period, the teams successfully migrated all of PAAMC’s investment and asset data over to HiPortfolio/3.
DST Global Solutions’ CEO, Tom Abraham, spoke about the successful implementation: “This project has been one of our most ambitious in terms of scale and complexity in Asia. We have achieved our joint goal thanks to the combination of PAAMC’s professionalism and DST Global Solutions’ expertise. It was the optimum combination of technology and people that made this possible. I would like to congratulate the PAAMC project team on their success.”