Member Administration Software (Licensed)
Wholly owned subsidiary of EBS International (Megatech) has been supplying systems and services to the retirement fund industry for more than 20 years and is one of the leading software development houses in the field.
Over this period Megatech has gained a vast amount of experience in the implementation of its proprietary Retirement Fund Administration Software “Com_Pen” in a wide variety of organizations such as insurance companies, large self-administered funds as well as many retirement fund brokers.
Megatech has a team of professionals who understand all aspects of fund administration as well as the importance of service excellence. Our support team has extensive fund administration experience and is therefore able to provide support on any level.
Megatech provides software and services to clients in the following countries:
Asset Management Solutions (Hosted)
With more stringent regulatory frameworks and stricter mandates from trustees of retirement funds and collective investments, investment managers require more sophisticated monitoring tools to ensure that their funds are in line with regulations and investment mandates.
EBS International, through its subsidiaries, provides best-of-breed retirement fund member administration solutions, asset management platforms for retirement fund administrators, asset managers, multi-managers, custodians and collective investment management companies.
At the heart of the asset management framework is a sophisticated unitisation engine that is augmented by compliance monitoring and performance/returns calculation capabilities. The unitisation engine and compliance/performance monitoring solutions together allow Global ASP Asset Management’s clients to:
Create bespoke investment products tailored to the multi-manager environment;
Provide full portfolio pricing capability;
Simplify transaction builds;
Monitor portfolio performance independently of the fund; and
Monitor compliance with respect of the investment mandate.
Thus, through combining a number of market leading solutions, Global ASP Asset Management is able to provide a unique and compelling solution to trustees, asset managers and fund administrators.
Member Administration Platform (Hosted)
Through its wholly owned subsidiary company - Global ASP Limited (“Global ASP”) - EBS International has become the proven industry leader in the provision of member fund solutions to complex environments where service delivery is an absolute prerequisite. Global ASP’s core administration solution is the leading fund administration platform internationally. This, together with Global ASP’s culture of uncompromising integrity and service excellence, sets the Group apart.
The Global ASP administration platform and application solutions have the scope and flexibility to accommodate any form of investment fund structure including, but not limited to, the following:
retirement funds (DB and DC), discretionary investment funds, preservation funds, beneficiary funds and asset management products. The solutions are able to support any fund structure from unitized and non-unitized investment funds to member level choice, Trustee Choice and monthly, daily or ad hoc pricing depending on each client’s unique requirements. The solution is a multi currency solution which can be easily adapted globally to handle a variety of currencies and regulatory environments and is fully and easily customisable to the specific needs of users.
The Global ASP applications and member fund platform comes standard with a fully integrated general ledger, trading system, pricing facility, web general user interface, security module, tax interface, document store, workflow functionality, reporting suite and payroll integration. The group also brings with it a wealth of technical and business expertise in the arena of investments, legal and technical knowledge and member fund administration best practices. A further benefit associated with Global ASP is the deployment of software via the ASP model resulting in significantly reduced cost of ownership, capital outlay and implementation risk.
The EBS International business model is geared towards removing the business risk associated with a fund’s reliance on its legacy platforms and replacing it with a best-of-breed robust platform. This, combined with a credible track record of delivery, drives the development of sustainable infrastructure for administration of member funds.
The EBS composite administrative solutions allow for complete flexibility to cater for the specific rules and requirements of each fund and each legislative environment. A complete member fund administration platform can be delivered from Global ASP’s data centre in Midrand or hosted in house on the client technology platforms.
Disaster Recovery and Business Continuity Services
Disaster Recovery South Africa (“DRSA”) , a subsidiary of EBS International founded in 2006, provides a number of large financial services clients with disaster recovery and business continuity services. Its infrastructure, methodology and pro-active involvement with its clients in times of crisis have been a strong catalyst to DRSA’s success in the local market.
DRSA features world class facilities, including syndicated and dedicated work area seats, IT Hosting, co-location and connectivity infrastructure. High availability and online backup solutions are designed to reduce recovery times and ensure resilience. DRSA’s unique facilities are designed to support small, medium and large businesses in South Africa, and are ideally geared to support the demands of call centres, financial services clients, and other enterprise environments with complex requirements.
DRSA’s disaster recovery centre provides a comprehensive disaster recovery environment to ensure minimal disruption of critical services, at a time when they are needed most. The facility is strategically situated in Midrand in a secure office park, with easy access to major arterial routes and public transport systems. This secure facility is protected with intelligent access control systems, CCTV monitoring and 24 hour security patrols.
All critical electrical infrastructures are protected with multiple standby diesel generators, in addition to uninterruptable power supply units. DRSA provides flexible solutions to meet the client’s requirement; clients may opt for a mix of dedicated or syndicated seats which include the desktop workspace, swivel chair, high-end workstation, LCD monitor, digital telephone, network access point and printing capabilities.
DRSA boasts a highly resilient data centre with A&B power feeds, multiple UPS and generators, robust access control and redundant cooling systems. DSRA is specifically designed for hosting and co-location services and employs intelligent building management systems such as VESDA apparatus to protect the data centre against environmental failure.
Multiple service providers terminate within the data centre providing true vendor independence and a variety of connectivity options. Redundant routes ensure availability in the event of a point failure. In addition the network is constantly monitored by trained engineers to ensure immediate response to potential outages.
Third Party Hosting Services (Data Centre)
EBS International’s accredited data centre in Midrand, Gauteng conforms to Tier III modelling and operation and is specifically designed to support complex data and web hosting environments.
Application hosting includes the provision of hosting services to third party application service providers from this Data Centre.
Business Intelligence Solutions (Hosted)
PlanInsite (a wholly owned subsidiary of EBS International) provides a comprehensive and robust Business Intelligence as a Service Solution (BI-as-a-Service) solution.
The benefits of cloud computing are transforming all areas of software and business intelligence is no exception to that. Using a business intelligence platform such as PlanInsite grants the customer immediate access to skilled resources and best practice expertise at a significantly lower cost than an in-house solution.
Crucially, PlanInsite provides an end to end Business Intelligence solution in an accelerated implementation time through the provision of a packaged solution incorporating specialised data warehousing, data modelling, hosting, dashboard design, security configurations and ETL tools resulting in both a saving in the overheads ordinarily associated with this technical infrastructure as well as the expertise required to create, maintain and deliver a reliable solution.
EBS International‘s diverse pool of resources offers a comprehensive understanding and assessment of each customer’s unique requirements and the assurance that all aspects of a project are adequately considered and planned for within the framework of best practice and appropriate technology. From experience in retirement fund administration, IT architecture, asset management, operational and process design, technical expertise and risk management, Global ASP staff are highly experienced in the provision of administration, operational and technical support to customers both locally and internationally.
13B Administration Services
EBS Africa (“EBSA”) has been established to perform retirement fund administration services only and forms part of a group of companies that includes Global ASP Limited, a technology company that has been providing retirement fund administration systems to retirement funds in South Africa for over ten years (see web site for additional information www.globalasp.com).
EBS International, the holding company of EBSA, has partnered with African Rainbow Capital (ARC), a fully black owned and controlled investment company focusing on the South African and African financial services industry and businesses that deliver exceptional returns on equity.
The Retirement Fund Industry in South Africa is notorious for inefficient, costly and opaque administration service providers. It can be very difficult to understand the costs that are being charged against the fund and its assets and in many instances these costs are not transparent to the Employer or the Fund. In addition, the relationships that providers have within their corporate group structures or with each other are often not apparent and any conflicts of interest are therefore not disclosed.
EBSA mitigates these risks to Funds by focusing only on retirement fund administration and not acting as an insurer or asset managers. Thus, whilst EBSA does perform the administration functions around these core elements of a retirement fund it maintains its independence and objectivity with regard to these products and services and provides the fund with independent and objective advice around the sourcing of the best alternatives.
In our Umbrella Funds this principal holds true, and participating employers may choose their insurers (if any) and investment providers, as long as the providers comply with the funds governance requirements and investment policy statement.
The benefit of moving a retirement fund’s administration to EBSA is that the retirement fund and its current structures can remain largely the same (unless changes are required) with open and transparent administration. In addition EBSA actively measures its service against agreed Service Level Agreements, allowing the participating employer and or MANCO to effectively monitor its service.
EBSA and its chosen Technology Solution
Global ASP Limited (“Global ASP”) (a subsidiary of EBS International) is a proven industry leader in the provision of retirement fund technology platforms to complex environments where service delivery is an absolute prerequisite and where socio/economic and political pressure will not and cannot support poor service delivery. Global ASP provides EBSA with all its technology requirements for the provisioning of administration services to large funds and its own umbrella funds.
Global ASP currently provides cost effective and efficient administration platforms to some of the largest and most complex retirement funds in South Africa.
In addition, Global ASP’s core administration system is the preferred solution of 46% of the world’s retirement funds making it the leading fund administration platform internationally.
Global ASP has a proven track record of implementation and delivery according to agreed project timelines and budgets and in complex environments. Our confidence in our ability to deliver a successful administration solution to our clients is best demonstrated in our standard policy to go “at risk” on all new projects such that clients are not required to make any payment until critical deliverables (as agreed) have been attained and independently signed off by the client’s independent advisors.
With clients including the Eskom Pension and Provident Defined Benefit Fund and Sentinel Retirement Fund and a local membership base in excess of 450 000 members and R150 billion, Global ASP is confident in its ability to deliver on-time and within budget even in the most complex of environments.
Global ASP has substantial experience in the provisioning of services to large Funds. A number of these funds have subsequently converted from Defined Benefit to Defined Contribution including the Sentinel Mining Industry Retirement Fund.
Most recently, Global ASP successfully converted the Eskom Pension and Provident Defined Benefit Fund (“EPPF”) onto its administration platforms. Per the published financial statements, the EPPF Defined Benefit fund has approximately 80,000 active members and 12,000 non active members pensioners/annuitants with assets in excess of R94,3 billion.
Global ASP also provided EPPF with extensive strategic support including the management of the transition process from an externally administered fund to an in-house self-administered environment.
Global ASP has a proven track record of converting complex retirement funds under difficult circumstances within pre agreed time frames and according to pre agreed budgets. Global ASP has never lost a client due to poor delivery.