Multifonds Empowers DBS with Scalable Automation for Asset Management
In a significant move for the asset management industry in Southeast Asia, Multifonds, a leading fund accounting platform, has officially launched its services with DBS Bank, the region's largest bank by assets. The deployment, which has been in development for the past fifteen months, covers critical markets including Singapore, Hong Kong SAR, and Indonesia. This partnership aims to streamline operations and enhance service quality for DBS’s clientele, enabling them to navigate the dynamic financial landscape more efficiently.
Multifonds' platform stands out by allowing DBS to manage both traditional and alternative funds through a single, cohesive solution. This capability enhances the bank's asset management functions, offering integrated services for asset management, position keeping, valuation, and accounting across key Asian markets. The automation features embedded in the platform are designed to facilitate end-to-end operations, achieving high rates of straight-through processing (STP) that bolster the overall efficiency and accuracy of fund valuation processes.
DBS's choice of Multifonds as its fund accounting solution represents a strategic move towards modernizing its operations. By adopting this advanced platform, DBS not only enhances its operational efficiencies but also gains access to robust tools like Workflow and Exception Manager (WEM) to streamline its net asset value (NAV) calculation processes. This integration allows for smoother collaborations between various accounting systems and transfer agency operations, ensuring a more seamless operational flow.
The selection of Multifonds came after a rigorous evaluation process where the platform demonstrated its capability to address the unique demands of each market it serves. This includes comprehensive support for complex derivatives across various asset classes such as credit, foreign exchange, interest rates, and equities, in addition to handling both index and private equity funds. The solution is adaptable, catering to differing fund structures and regulatory requirements, which include advanced loss and profit allocation methodologies and primary segment structures with rebate fees.
Moreover, as the asset management landscape continues to evolve, Multifonds collaborates closely with DBS to develop compliance and regulatory reporting tailored specifically to the ever-changing market dynamics of Indonesia. This proactive approach ensures that DBS remains compliant with the latest regulatory changes, providing crucial information that aids the bank and its clients in staying ahead in the financial game.
Oded Weiss, CEO of Multifonds, expressed his enthusiasm over the partnership, stating, "We are excited to have been chosen as the fund accounting platform for such a prestigious and leading bank. DBS has built a global reputation for fund services, and Multifonds' modern technological platform will support the bank in delivering highly flexible customer-centric solutions, with unmatched scalability and efficiency. We look forward to continuing our partnership with DBS Securities Services to enhance the bank's technological capabilities and develop new features to support other markets across Asia."
Founded with a vision to reshape fund management, Multifonds is a global provider of fund accounting, investor services, and net asset value oversight for both traditional and alternative funds. For more information, visit www.multifonds.com.
This landmark partnership is poised not just to elevate DBS's operational efficiencies but also to redefine how asset management services are delivered in one of the world's most dynamic financial markets. By leveraging innovative technology and strategic collaboration, DBS is setting a new standard for excellence in the financial services industry.
Comprehensive Fund Management
Multifonds' platform stands out by allowing DBS to manage both traditional and alternative funds through a single, cohesive solution. This capability enhances the bank's asset management functions, offering integrated services for asset management, position keeping, valuation, and accounting across key Asian markets. The automation features embedded in the platform are designed to facilitate end-to-end operations, achieving high rates of straight-through processing (STP) that bolster the overall efficiency and accuracy of fund valuation processes.
DBS's choice of Multifonds as its fund accounting solution represents a strategic move towards modernizing its operations. By adopting this advanced platform, DBS not only enhances its operational efficiencies but also gains access to robust tools like Workflow and Exception Manager (WEM) to streamline its net asset value (NAV) calculation processes. This integration allows for smoother collaborations between various accounting systems and transfer agency operations, ensuring a more seamless operational flow.
Tailored Solutions for Diverse Needs
The selection of Multifonds came after a rigorous evaluation process where the platform demonstrated its capability to address the unique demands of each market it serves. This includes comprehensive support for complex derivatives across various asset classes such as credit, foreign exchange, interest rates, and equities, in addition to handling both index and private equity funds. The solution is adaptable, catering to differing fund structures and regulatory requirements, which include advanced loss and profit allocation methodologies and primary segment structures with rebate fees.
Moreover, as the asset management landscape continues to evolve, Multifonds collaborates closely with DBS to develop compliance and regulatory reporting tailored specifically to the ever-changing market dynamics of Indonesia. This proactive approach ensures that DBS remains compliant with the latest regulatory changes, providing crucial information that aids the bank and its clients in staying ahead in the financial game.
Quote from Leadership
Oded Weiss, CEO of Multifonds, expressed his enthusiasm over the partnership, stating, "We are excited to have been chosen as the fund accounting platform for such a prestigious and leading bank. DBS has built a global reputation for fund services, and Multifonds' modern technological platform will support the bank in delivering highly flexible customer-centric solutions, with unmatched scalability and efficiency. We look forward to continuing our partnership with DBS Securities Services to enhance the bank's technological capabilities and develop new features to support other markets across Asia."
About Multifonds
Founded with a vision to reshape fund management, Multifonds is a global provider of fund accounting, investor services, and net asset value oversight for both traditional and alternative funds. For more information, visit www.multifonds.com.
This landmark partnership is poised not just to elevate DBS's operational efficiencies but also to redefine how asset management services are delivered in one of the world's most dynamic financial markets. By leveraging innovative technology and strategic collaboration, DBS is setting a new standard for excellence in the financial services industry.
Topics Financial Services & Investing）
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