BNP Paribas Securities Services extends Temenos contract for fund admin growth
Temenos is increasingly integrating its technology with many of the leading securities services, fund administration and buy-side firms.
Temenos is increasingly integrating its technology with many of the leading securities services, fund administration and buy-side firms.
The agreement will see Canada Life consolidate the investment assets for its UK and Canadian businesses onto a single fund accounting platform.
The partnership reflects the rise of ‘shadow’ fund administration, with an independent third-party providing oversight and validation of fund accounting.
Fund administrators have highlighted the importance of the ETF to their growth plans, but operational technology were highlighted as a challenge for growth.
The migration to the platform will replace the legacy platform Northern Trust’s transfer agency business had previously operated on.
The ETF market has quickly emerged as a key battleground for custodians and fund administration to win new clients and mandates.