Shinhan iTAS Develops Next-Generation Alternative Investment Back Office Operation System

[Asia Economy Reporter Haeyoung Kwon] Shinhan iTAS announced on the 2nd that it has developed the industry's first next-generation back-office system necessary for managing accounting and administrative tasks in alternative investment office management and opened it last month.

Alternative investment office management refers to the accounting and administrative tasks of asset management companies operating REITs, management participation private equity funds (PEFs), and others. Previously, most of these tasks were handled manually, which posed a risk of errors.

Through the development of this next-generation back-office system, Shinhan iTAS has eliminated potential risks and can now provide fast and accurate services through S (Speed), A (Agility), and Q (Quickness). The system was developed and tested over nine months starting from June 2019, adding features such as standardized lease management accounting, automated statutory reporting, and disclosure and reporting scheduling functions. The multi-currency feature also supports various types of office tasks related to overseas alternative investments.

A Shinhan iTAS official stated, "Starting with the development of this next-generation alternative investment back-office system, we will continue to invest in strengthening Shinhan Financial Group's digital transformation and set standards for the capital market infrastructure business, solidifying our position as the number one office management operator in Korea."

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