Multifonds is improving the capabilities of its transfer agency solution, Multifonds Global Investor (MFGI), in response to client demand to consolidate and rationalise their transfer agency processing.
According to Multifonds, as the regulatory change agenda has put pressure on margins, service providers are looking for ways to maximise efficiency and reduce costs.
Many are opting to simplify their technology architecture and consolidate their operating models and systems, often through mergers and acquisitions. Through widening the scope of the MFGI system, Multifonds hopes to reduce the need for multiple third-party systems.
New functions include a trailer fee engine for calculating commission fees and rebates, workflow and exception management, cash management, data segregation, and integrated capabilities.
Keith Hale, Multifonds executive vice president of client and business development, said: “Reducing operational costs is a big challenge for our clients and our ongoing investment and expansion of the product is all about helping them achieve this efficiently. By meeting more of their transfer agency servicing requirements from one fully integrated platform, they can reduce the number of external systems they have to maintain and their overall total cost of ownership.”
Of Multifonds’s key strategic clients, 40 percent have already committed to using the extensions.
Since the launch of MFGI in 2012, its client base has grown by more than 80 percent, and assets on the platform have increased by 50 percent to more than $1.8 trillion spanning at least 20 find domiciles around the world. It also has more than 20 percent of the market share in both Luxembourg and Ireland.
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