NEWS | Wednesday, 23 January 2008

Smooth transition by GlobalCapital to euro

GlobalCapital has announced that the changeover process from Maltese Lira to euro has been very smooth with no major issues being experienced by the IT applications handling databases and client information.
The changeover process has been planned thoroughly and implemented over 2007 with all systems switching to euro on 1st January 2008. This process covered the three main areas of business of the company namely Investments, Insurance and Property. As from 1st January, all client valuations and product information is shown in euro and supported by the LM equivalent. This applies also for all marketing and product material distributed from the various GlobalCapital branches.
Commenting about the changeover process, Adrian Mizzi, Head of IT at GlobalCapital stated, “Although the process was quite complex because of the extensive number of systems that needed to be modified the changeover was very smooth. While for the last months the system where already displaying euro equivalent values, some of the applications had to be modified to start ‘thinking’ in euros and this involved most of our IT development team and software providers. Our main objective was to meet the set deadline and offer our clients a smooth transition into the new currency.”
Mr Mizzi also thanked all the IT team at GlobalCapital for their commitment to this project as well all software providers, be they local or international, for their continuous support.
GlobalCapital’s commitment to a smooth transition into euro for its clients is highlighted by the fact that it was the first financial services company to join the FAIR scheme.
For further enquiries, clients may call the customer services team on 21342342.