CPIC-ING goes live on HiPortfolio to support efficiency savings in its asset servicing operations

Shanghai - 10 January 2011

DST Global Solutions, a leading global provider of investment management software and services, today announced that CPIC-ING, the joint venture between CPIC Insurance and global giant ING, has gone live on HiPortfolio® to support efficiency improvements in its asset servicing operations. The implementation positions CPIC-ING to significantly reduce manual data entry and workarounds in its day-to-day processing whilst also supporting a wide range of Chinese financial instruments for the first time.

Commenting on the implementation, Mr. Gu Yong, Head of Finance at CPIC-ING, said, “We chose DST Global Solutions after a rigorous selection process in which we considered a number of important criteria. This included the ability to deliver the most efficient and effective asset servicing system available within an agreed implementation timeframe. Coupled with this the solution needed to be a globally proven platform that offered the flexibility and scalability necessary to satisfy future business growth whilst enabling us to make significant efficiency improvements in the short and medium term. In final analysis, DST Global Solutions with its HiPortfolio solution was the clear frontrunner amongst all the options considered.”

Geoff Harries, Global Head of Asset Servicing at DST Global Solutions commented, “DST Global Solutions has invested significantly in the development of HiPortfolio to address the unique requirements of the Chinese market, including its ability to support a wide range of Chinese investment instruments. We are delighted to see that this successful implementation will help CPIC-ING to achieve its operational efficiency improvements and growth objectives.”

The implementation took place in under four months and finished within the projected timeframe. CPIC-ING chose HiPortfolio for its strong local presence, its resilience and functional richness, coupled with the local availability of DST Global Solutions’ strong Professional Services team.

Susan Tepsa, Head of Professional Services for DST Global Solutions China, said, “The close collaboration between the CPIC-ING internal project team and our local Professional Services implementation team created an excellent work environment that resulted in a very successful implementation. It was a pleasure to work with a company as professional and competent as CPIC-ING and I look forward to completing further projects with CPIC-ING in the future.”

DST Global Solutions’ award-winning HiPortfolio solution now services around 60 per cent of all insurance assets in China, and is implemented at the two largest insurers in China. HiPortfolio is also relied upon by many investment management operations within China and the Asia Pacific region.

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