Danske Bank has partnered with Clearstream to strengthen its fund processing services.
Clearstream recently introduced fund desk distribution support services, including its investment fund processing solution Vestima, which centralises the processing of mutual, hedge, private equity and exchange-traded funds.
The Vestima platform allows Clearstream to provide a one-stop-shop solution for its clients, offering direct access to local domiciled funds, efficient cash management and consolidated reporting.
Ainura Bizhanova, head of network management at Danske Bank, said: “Partnering with an organisation that places the same focus on operational integrity and distribution efficiency as Danske Bank was a critical requirement for us when conducting a review of our primary fund provider.”
Bernard Tancré, head of investment fund services, Clearstream, commented: “We are delighted to be supporting Danske Bank which will create high operational synergies in investment fund processing for both sides.”
He added: “Danske Bank will profit from our proven infrastructure known for asset safety and distribution efficiency. This will enable Danske to foster efficiencies for underlying clients and scale their investment fund businesses.”
