#Singapore #DBS #Multifonds #Fund Accounting

Multifonds Partners with DBS to Enhance Asset Management Automation

In a groundbreaking collaboration, Multifonds has successfully launched its Fund Accounting Platform with DBS, Southeast Asia's largest bank. This innovative platform is set to revolutionize the asset management sector across key markets, including Singapore, Hong Kong SAR, and Indonesia. The deployment comes after a successful fifteen-month implementation phase, achieved through a dedicated effort from both Multifonds and DBS teams.

The Multifonds platform offers a unique fund administration solution that supports both traditional and alternative funds. By integrating asset servicing, position management, valuation, and accounting functions, it streamlines operations in some of the most dynamic markets where DBS operates. This fully automated solution not only enhances the quality of service but also facilitates high straight-through processing (STP) rates, paving the way for future growth and scalability in the asset management arena.

As the first bank in Asia to utilize the latest version of the Multifonds solution, DBS stands to significantly improve its operational efficiency. The new features, particularly the Workflow and Exception Manager (WEM), enable DBS to streamline its net asset value (NAV) process through the seamless integration of fund administration and transfer agency systems. This level of innovation enhances both client service and internal processes, establishing DBS as a leader in the competitive financial services landscape.

The selection of Multifonds by DBS followed a rigorous evaluation process, which included a comprehensive proof of concept. The results demonstrated that Multifonds could adeptly handle the unique demands of various markets, offering real multi-asset coverage that includes complex derivatives across credits, currencies (FX), interest rates (IR), and equities (EQ), as well as Exchange-Traded Funds (ETFs) and private equity (PE). This broad capability supports diverse fund structures and requirements, from advanced profit and loss allocations by share class to a master segment structure for managing discounts and fees.

In addition, Multifonds is collaborating with DBS to contribute actively to the evolution of regulatory reporting tailored to the rapidly changing Indonesian market. This ensures that reports remain relevant and up-to-date in accordance with the latest legal and regulatory changes, empowering the bank and its customers to navigate the shifting financial landscape effectively.

Oded Weiss, CEO of Multifonds, expressed excitement over being chosen as the fund administration platform for such a prestigious institution. He stated, "DBS has established an outstanding global reputation in fund management. Our cutting-edge technology platform will enable the bank to offer highly flexible and client-focused solutions with unmatched scalability and efficiency. We look forward to continuing our collaboration with DBS Securities Services to enhance the bank's technological capabilities and develop new functionalities to meet the needs of other markets in Asia."

Multifonds is a unique global platform for fund administration, investor services, and NAV oversight, offering solutions for both traditional and alternative funds. For further details, visit Multifonds.

Conclusion

This partnership signifies a notable advancement in the asset management domain, showcasing how technology and collaboration can foster growth and improve service quality in the financial sector. As markets continue to evolve, such innovations are vital for the sustainability and competitiveness of financial institutions in the ever-changing economic landscape.