BNP Paribas Securities Services has released a set of application programming interfaces (APIs) for its fund administration business.
The bank is working with SWIFT to standardise all its existing and future APIs via the global ISO 20022 standard.
The new catalogue of 17 fund accounting APIs automatically updates clients’ systems with information specific to their business held by BNP Paribas Securities Services.
This information includes data sets such as net asset value (NAV) calculations and distribution, and settlement instructions and status.
Clients are also able to post information, such as NAV validation, directly in BNP Paribas Securities Services’ systems.
The initiative also allows BNP Paribas Securities Services’ asset manager clients to receive information instantly, streamlining their data management and enhancing their internal control mechanisms.
In addition, clients will benefit from higher straight-through processing rates and improved analytics.
Arnaud Claudon, head of the asset manager client line at BNP Paribas Securities Services, said: “With this new set of APIs, our clients will receive information in real-time rather than wait for files to come through. This will make for better risk controls, better decision-making and will also help improve straight-through processing rates.”
Paud O’Keeffe, head of client digital experience at BNP Paribas Securities Services, commented: “APIs have the potential to significantly transform current market practices, and how our industry processes data and provides services.”
