Milestone Group has completed the first phase of a programme to automate two processes at BNP Paribas Securities Services.
Milestone Group’s fund processing solution, pControl, is now delivering fully automated NAV production and validations for BNP Paribas Securities Services’ mutual funds operations and supporting tri-party reconciliations for its alternatives administration business. The first phase of the programme was delivered on time and has set the foundation for further roll-out in 2012.
“We sought an operational platform that would allow us to apply globally consistent controls to our fund accounting processes, reduce time-consuming activity and in so doing, improve client service,” said Alexandre Pirlet, global head of fund administration, BNP Paribas Securities Services.
“This is exactly what we get with pControl. The fact that it supports both NAV control and reconciliations enables us to realise further efficiencies of working within one system. And despite still being at an early stage of operation, the feedback on usability and delivery of anticipated benefits is positive.”
Paul Roberts, managing director for Milestone Group in Europe, added: “Where pControl comes into its own is its ability to automate multiple operational functions on one platform specifically designed to support funds processing.
It’s often the case that companies come to us to solve a specific operational challenge and the relationship develops to the point where we become the broader strategic solution supporting multiple processes, fund types and locations, all via a single instance of pControl.”
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