PCS announced the successful completion of two significantly challenging and complex projects in Kenya. The projects included the procurement and implementation of PCS Custody to Equity Bank and Cooperative Bank to support their custody services.

PCS Custody constitutes an advanced technology solution with extensive functionality which fully supports all settlement and custody services for various portfolios including the bank’s and its clients’, those of institutional investors, funds and mutual funds. PCS completed the implementation projects in an impressive period of a few months, whilst managing a considerable number of unique challenges. Equity Bank went live on production environment on June 2014 within 7 months from the kick off meeting whereas Cooperative Bank went live by end of September 2014, less than 5 months from the initiation of the project.

George Xenofos, CEO PCS stated: “We are very proud to have efficiently and effectively completed these challenging projects, empowering Equity Bank and Cooperative Bank with the most advanced platform to forge ahead with their growth plans. Having completed the process multiple times in Europe and Africa – always within the initial time plan and budget agreed – proves that PCS is well equipped to develop advanced solutions, fast-track project implementations and reduce the long term cost-of-ownership for its clients, enabling them to rapidly deploy innovative new products and services that meet the evolving needs of their business.”