Agile FT’s Agilis IMS will deliver a holistic Asset Management & Pension Fund solution for Apollo Asset Management and its holding company, Apollo Insurance.

Nairobi, Kenya 9rd March, 2010: Apollo Insurance Company of Kenya, a leading financial powerhouse, has selected Agile Financial Technologies’ Agilis Investment Management solution to manage their Wealth Management, Mutual Fund Management, Investor Services, Pension Fund Management and Pension Fund Administration businesses for its wholly owned subsidiary Apollo Asset Management

Agilis IMS is a straight-through, front-to-back, web-based, multi-entity, multi-asset class investment management solution covering treasury and prop-book management, wealth management, fund management, investor services management and pension fund management. User configurable dashboards, analytics and comprehensive risk management and back office capabilities provide for ease of use whilst simultaneously ensuring effective control over the operations.
The solution will be primarily used by Apollo Asset Management Company which in addition to its own asset management business, is also mandated to manage the assets of the group companies – Apollo Life and APA Insurance.
Apollo Asset Management is licenced as a fund manager by the Capital Markets Authority (CMA) and the Retirement Benefits Authority (RBA) in Kenya. Apollo Insurance Company will use the solution to manage its Pension Fund Administration business where Agilis IMS will automate the contributions process and its intricate computations of various types of contribution segments, taxation norms and calculations. Another group company called Gordon Court will also be using Agilis IMS to manage their Real Estate investment portfolio.
The Apollo Insurance Group has been a firm believer in using technology as a foundation for growth, and has been an early adopter of technology in East Africa, and the selection of Agilis IMS will provide them with a holistic platform to enable the group automate its processes.

Commenting, Ashok Shah; a director of the group said, “We were seeking a technology platform to manage the operations of Apollo Asset Management company as well as the investment management needs of our insurance entities, real estate company and pension fund business. Agilis IMS provides us with a holistic, multi-entity platform that allows us to do just that“
“We are honoured to have Agilis IMS selected by the Apollo group, an organisation that is ahead of its peers in terms of technology adoption, to service their investment management needs and are confident of providing them with the technological edge that they seek in their operations”, said Kalpesh Desai, CEO of Agile Financial Technologies.

About The Apollo Group:
The Apollo Insurance Group aims to be the leading Insurance Group in the whole of Eastern & Central Africa in the next few years and has a clearly laid-out strategy roadmap for the same. Apollo Asset Management, headed by Sunil Sanger, a leading proponent of bond trading, offers comprehensive Investment management to both institutional as well retail clients. It offers distinctive Wealth Management across various assets classes such as Equity, Fixed Income, Money Market, Real Estate among others.

Apollo Insurance was incorporated in 1977, as one of the first few locally owned insurance companies and has today risen to be among the top Insurance companies in the region. APA Insurance has grown their turnover fivefold in the last the five years. Apollo ranked number two for its investment management as per the 2004 Kenya Insurance Survey conducted by KPMG East Africa and the Insurance Institute of Kenya.

About Agile Financial Technologies:
Agile Financial Technologies (Agile FT) is a leading provider of software and services to the Banking, Financial services and the Insurance (BFSI) sector. With a strategic intent to be an “agile” partner to financial institutions, Agile FT provides more than 15 niche software including comprehensive Asset Management, Financial Planning, Bancassurance, Capital Market solutions, Registrar (R&T) management, Treasury, MicroFinance, Core Banking, Lending, Credit Monitoring, Bank Agency Management under its Banking Suite. It also has an equally comprehensive Insurance suite with Life, Non-Life, Pension & Annuities, Takaful, Health, TPA & Insurance Broking. As a holistic technology partner, Agile FT offers a blend of KPO services along with its products such as Central Processing Centres, Equity & Forex Research, IPO processing, Fund Accounting among others. This unique “agile” approach in delivery is what Agile FT prides in bringing to its customers and calls it the “The Agile Difference”.