MYRIAD Group Technologies and AlfaSec Advisors have formed a partnership focussed on agent network management solutions.  The partnership seeks to bring a broader set of network management consulting and software solutions to clients in the Asia-Pacific and Middle East regions.

 

MYRIAD is the leading software provider of network management risk management and control systems globally, and supports many leading financial institutions in Europe, Asia-Pacific and the US.  AlfaSec provides specialist consulting and advisory services in the investment and transaction services industry covering strategic planning, product and risk management and network management solutions.  This partnership brings together leading technology solutions with a strong specialist consulting and advisory model to support entities align to leading industry standards and reduce the inherent risks of operating global correspondent networks.

 

MYRIAD and AlfaSec have extensive experience in the management of broad agent network models and this partnership creates a unique coverage model for clients to enhance the management of their in-house and thid party agent networks.  This area is under growing levels of scrutiny as investor protection, asset segregation and client money protection feature on regulator agendas with the financial services community.

 

MYRIAD CEO Simon Shepherd said: “MYRIAD’s capabilities and all-round functionality continue to support the most sophisticated cash and asset service companies globally, bringing an integrated solution that enhances risk management oversight around agent network management, complimenting the existing agent management functions.  We are delighted to expand our service into Asia-Pacific, a hugely important growth region where cross-border trade and investment flows are growing exponentially.  The partnership with AlfaSec allows us to combine the strength of our system solutions with a highly focused approach to improving a firm’s policies and practices.”

 

AlfaSec managing partner Giles Elliott said: “We are excited about bringing an integrated network management consulting and system solution to firms in Asia- Pacific and the Middle East.  The growing level of regulatory focus on client money and asset protection is triggering a huge focus on the depth of risk and control policies embedded within asset and cash management firms, with more responsibility for effective management being placed on service providers.  Traditional approaches to managing agent networks frequently lack clear risk management frameworks or the tools to apply these consistently or transparently, something that becomes critical as international trade and investment flow activities grow.”