Sydney
21 March 2017
Reporter: Drew Nicol

FundBPO outsources workflow to DST Systems


Wealth management software specialist DST Systems has secured Australian fund administrator FundBPO as the first user of its new transfer agency solution for a five-year contract.

FundBPO will leverage the transfer agency platform for its enterprise workflow by combining its business process management platform with pre-configured global best practice transfer agency processes.

The solution will initially be rolled out across FundBPO’s Australian transfer agency operations for its global clients, including Equity Trustees, Grant Samuel Funds Management, SG Hiscock & Company and Smarter Money Investments.

The new contract represents an expansion of the firms’ existing relationship, which already involves FundBPO’s use of DTS’s HiTrust software.

FundBPO currently works with more than 370 funds in Australia, and 602 globally.

In a statement on the partnership, FundBPO said it will extend AWD’s workflow capability to its other geographies and business units.

FundBPO is part of Mainstream Group, which also has operations in Singapore, Hong Kong, the US, Cayman Islands, Isle of Man and Malta.

Martin Smith, CEO at FundBPO, said “FundBPO is experiencing strong growth in our Australian business and we are committed to investing in technology that gives our clients better management of the risks associated with processing managed fund transactions, enquiries and correspondence.”

“This solution will allow us to implement global best practice processes while driving significant efficiency gains across our business. We will be able to run a paperless unit registry business with real-time service level reporting, client interaction and management of a fund’s transaction lifecycles.”

“To quantify this, the more than 9,000 faxes, letters and emails we receive from investors each month will be integrated and indexed in AWD, improving turnaround times and increasing transparency and process controls for our clients.”

More custody news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
BNY Mellon and HSBC sign up to Algomi’s Honeycomb
18 October 2018 | New York | Reporter: Jenna Lomax
The collaboration is expected to bolster fixed income market liquidity by giving both BNY Mellon and HSBC clients the ability to make select holdings information available anonymously through the new solution
BNP Paribas wins Brazilian custody mandate
26 September 2017 | New York | Reporter: Theo Andrew
Mizuho Trust & Banking has selected BNP Paribas Securities Services as its sub-custodian and settlement agent in Brazil
Boeing and JCP name Northern Trust as global custodian
17 August 2017 | Chicago | Reporter: Jenna Lomax
The Boeing Company has mandated Northern Trust to act as global custodian for its €54 billion defined contribution retirement plan
CACEIS reports assets under custody increase
07 August 2017 | Paris | Reporter: Jenna Lomax
French asset servicing firm CACEIS has reported that its assets under custody increased by 13.7 percent in Q2 2017
NSD’s securities under custody climb
02 August 2017 | Moscow | Reporter: Jenna Lomax
The Russian settlement depository held assets under custody valued at RUB 32.2 trillion (USD 536.32 billion) in Q2 2016
BNP Paribas sees Q2 success
31 July 2017 | Paris | Reporter: Jenna Lomax
BNP Paribas has seen a 10.7 percent increase in assets under custody, reporting a total of €9 trillion at the end of Q2 2017, compared to €8.1 trillion in Q2 2016
Northern Trust wins Hong Kong higher education mandate
31 July 2017 | Hong Kong | Reporter: Stephanie Palmer
Northern Trust has been selected to provide global custody and other services to The Open University of Hong Kong
More custody news