Brazilian independent fund administrator REAG Investimentos (REAG) has selected open banking platform Temenos Multifonds (Temenos) to replace its current investment operations infrastructure and cover the complete fund administration lifecycle of its investment funds.
Temenos offers an accessible database, integration of third-party products and platforms through application programming interfaces. Additionally, the platform includes audit trails.
Using real-time operational information provided by Temenos, REAG will be able to conduct better fund processing analysis and improve their data quality, Temenos says. According to the company REAG will improve its efficiency by up to 30 per cent, allowing for greater scaling potential.
João Carlos Mansur, CEO of REAG, says: "A key reason for choosing Temenos Multifonds was the ability to deliver services more efficiently so that we could improve the experiences of our clients and employees. [The company] will undoubtedly allow us to expand to international customers in the future, and we are excited to partner with Temenos on the next phase of our growth journey."
Oded Weiss, managing director for Temenos Multifonds, adds: “We started our investments to localise Temenos Multifonds for Brazil a few years ago. In Brazil, Temenos Multifonds is the only platform designed to manage complex fund structures with various share class levels, including share class hedging, which perfectly positions us for the coming regulatory changes expected in the coming months. By adopting Temenos Multifonds, REAG will decrease the burden on its staff while increasing its reach to benefit more families, businesses and investors.”
