New technology platform boosts global transfer agency service

T-Cube enhances Maitland’s TA platform while availing clients of increased regulatory functions

Maitland Fund Services has replaced its existing transfer agency platform with T-Cube, offered by South African company, Zubat Nine, to support transfer agency services to its global client base.

T-Cube is a fast-growing system with not only transfer agency capability but also a retirement, product and employee benefits offering. Transfer agency is the function through which Maitland Fund Services handles shareholder purchases and sales of fund shares.

Maitland went live with T-Cube in early November with one of its asset manager clients. All other clients will be migrated onto the platform over the coming 12 months.

T-Cube accommodates all transfer agency functions, including maintaining the unitholder register, related financial transactions, and regulatory requirements. T-Cube has been integrated with the extended Maitland TA platform supporting reporting, investor correspondence, workflow, and importantly integrating with Maitland’s fund accounting solution, InvestOne.

Alison Boswell, Head of Transfer Agency (South Africa) at Maitland, said: “We followed a thorough selection process and chose T-Cube on the basis of the improved regulatory function it provides, which becomes more and more critical in the TA space, as well as being competitive on cost.

“We are pleased to be able to utilise the T-Cube platform for our onshore, offshore and hedge clients, while investing back into South Africa. Local clients in particular will benefit from the flexibility of the platform when it comes to adherence to and compliance with tax and other regulations, such as FICA and FATCA. We are interested in developing the platform to offer full anti-money laundering services in the future.”

Yulindi Taljaard, Head of Zubat Nine said: “We are truly delighted that an award-winning institution such as Maitland selected Zubat Nine’s always evolving and growing T-Cube system. We are looking forward to a long-standing and mutually beneficial relationship. Maitland’s transfer agency knowledge and fund accounting experience will complement Zubat Nine’s development capability.”