EPF expands partnership with BNY Mellon for investment accounting project
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EPF expands partnership with BNY Mellon for investment accounting project 20 December 2022Malaysia Reporter: Lyndsey Young
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The Employees Provident Fund Board of Malaysia (EFP) has selected BNY Mellon to deliver an investment accounting project, facilitating BNY Mellon’s Eagle accounting solution, and wider data and analytics services.
BNY Mellon’s Eagle accounting solutions are designed to help the EPF centralise and efficiently manage complex investment assets and address their data management, historical data and reporting challenges by integrating with their business intelligence tools.
BNY Mellon already provides custody services to the EFP. With this new mandate, BNY Mellon aims to deliver a solution for fund accounting and the administration of public assets of the EPF, with increased automation and a centralised investment data hub.
According to BNY Mellon, the expanded partnership will accelerate the EPF’s ambitions in building a resilient and data-centric operating model, as they bolster their investments into new asset classes and geographies.
Fangfang Chen, APAC chair and APAC head of asset servicing and digital at BNY Mellon, says: “Malaysia is a significant growth market for BNY Mellon in the Asia Pacific region. We are honoured that the EPF has entrusted us with an expanded mandate.”
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