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Miles Software, the global fintech player partners with Bank One Mauritius to streamline their Custody business

September 2017

Miles Software, the global fintech player in the Wealth and Asset management space has today announced that it has won a significant deal from Bank One Mauritius to automate their Custody business. Headquartered in Port Louis, Mauritius, Bank One is a universal bank serving the four main segments namely consumer, corporate, private and international banking. The bank is one of the leading universal banks in Mauritius. This is Miles Software’s 3rd win in Mauritius making them the market leader for Custody solutions. This win comes after the recent win at State Bank of Mauritius and successful deployment of MoneyWare Custody at AfrAsia bank.

The bank has selected MoneyWare Custody that ensures automation of the whole spectrum of custody activities, including processing of custody transactions, calculation of depository commissions, as well as a full integration with back-office modules of financial institutions. The implementation of the solution will encompass all areas of custody operations, including instruction management, trade processing and settlements, corporate actions processing, reconciliations, and client billing along with client portal. The solution shall be integrated with Finacle Core Banking System and SWIFT alliance enabling straight through processing.

About Bank One

Headquartered in Port Louis, Mauritius, Bank One is a universal bank serving the four main segments namely consumer, corporate, private and international banking. Bank One provides a wide range of banking products to its clients through a chain of 13 branches and a well-distributed ATM network across the island. The Bank also offers treasury services and has developed strong capabilities in e-commerce acquiring. It was awarded by Visa for "Best Bank in Ecommerce Business Risk Management" in 2014 -2015.

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