DECEMBER 20, 2022
BNY Mellon today announced it has been selected by the Employees Provident Fund Board of Malaysia (EPF) to deliver a transformational investment accounting project. In addition to custody solutions BNY Mellon provides for the EPF, this broader remit aims to deliver a solution for fund accounting and administering the entire public assets of the EPF with increased automation and a centralized investment data hub.
The expansion of this integrated solutions offering will further 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. BNY Mellon’s Eagle accounting solutions are designed to help the EPF centralize and efficiently manage complex investment assets and address their data management, historical data, and reporting challenges by seamlessly integrating with their business intelligence tools.
“Malaysia is a significant growth market for BNY Mellon in the Asia Pacific region. We are honored that the EPF has entrusted us with an expanded mandate, recognizing our efforts to empower the EPF in delivering greater value for its members through innovation and excellent services. This mandate demonstrates the strength of our franchise and highlights our commitment and dedication to the Malaysian market.” said Fangfang Chen, Asia Pacific Chair and Asia Pacific Head of Asset Servicing and Digital at BNY Mellon.
The EPF, which helps manage the Malaysian workforce retirement savings, is one of the oldest retirement funds in the world. Established in 1951, the EPF is a social-security organization focused on safeguarding member savings and delivering excellent services. BNY Mellon has been the service provider of the EPF for the last 17 years and will continue to support the EPF’s growth aspirations in achieving optimal investment outcomes for their members’ retirement.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment and wealth management and investment services in 35 countries. As of Sept. 30, 2022, BNY Mellon had $42.2 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
About the Employees Provident Fund (EPF)
The Employees Provident Fund (“EPF”) is one of the oldest retirement funds in the world. Established in 1951, the EPF is a social-security organisation focused on safeguarding member savings and delivering excellent services. In recent years, in line with its vision of helping members achieve a better future, the EPF has expanded its role to encompass the creation of a comprehensive social well-being ecosystem. Today, the EPF remains steadfast in its commitment to members through consistent efforts to update and improve itself, in order to build the foundation for sustainable, holistic and equitable well-being for all Malaysians.