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Guernsey based fund company Aras Investment Management has awarded Amatica the contract to deliver a web-based intermediary commission management and client online valuation system. The system will control and administer sales commissions as well as trail commissions earned by intermediaries and brokers.

The system will take over an existing process which is time-consuming and vulnerable to error. Amatica’s system has been designed at the outset to operate as a secure web-based system capable of being implemented and operated within various offshore jurisdictions.

Philip Lane, Aras Investment Management’s director responsible for negotiating the contract with Amatica, was won over by many of the system's benefits including the facilities to manage commission payments remotely as well as the potential to offer intermediaries access to view their commission accounts.

For Philip Lane, a crucial aspect is the potential for time saving. “Undertaking monthly and annual commission calculations and statements is particularly time-consuming and takes me away from my prime role of forging relationships with intermediaries and investors. The benefits that Amatica’s system will bring are significant”.

For Amatica's David Roberts, Aras Investment Management’s business is an important step. “Amatica has built a solid reputation with the mortgage sector and we’ve been steadily moving into offshore financial markets. Winning Aras builds on the business Amatica has developed with offshore customers in Jersey, Isle of Man and Guernsey. Our aim is to extend the functionality of the commission system into fund administration and penetrate further into the offshore finance market.”

© Amatica 18/03/2008