Driving Automation in Asset Management
Multifonds is paving the way for the asset management industry by enabling DBS to efficiently manage both traditional and alternative funds on a unified fund accounting platform.
Launch of Multifonds Fund Accounting Platform
Recently, Multifonds announced that DBS, recognized as Southeast Asia's largest bank by assets, has officially launched the Multifonds Fund Accounting Platform in key markets like Singapore and Hong Kong SAR. The implementation process was meticulously carried out over a period of fifteen months through a collaborative effort between DBS and Multifonds.
This advanced platform provides a comprehensive solution that combines asset servicing, position keeping, valuation, and accounting functions. With the help of this fully automated solution, DBS can optimize its operations and significantly enhance service quality, thereby fostering client growth in some of the region's most vibrant markets.
First Client to Implement the Latest Version
DBS stands out as the first bank in Asia to utilize the latest version of the Multifonds solution, which allows them to considerably boost operational efficiency. Features like the Workflow and Exception Manager (WEM) empower them to streamline the Net Asset Value (NAV) calculation process through integration with Fund Accounting and Transfer Agency systems.
Comprehensive Support for Diverse Fund Structures
After an extensive evaluation process, DBS opted for Multifonds due to its robust capabilities to address market-specific challenges. The platform supports complex derivatives across variousassets, including Credit, FX, IR, and EQ, along with ETFs and private equities. This positions it well to accommodate diverse fund structures and unique requirements, enhancing resource allocation efficiency.
Furthermore, Multifonds is working closely with DBS to create tailored regulatory reports designed for the rapidly changing Indonesian market. This initiative ensures that such reports continually align with the latest regulations, providing the bank and its clients with valuable insights into the evolving financial landscape.
CEO's Insight on the Partnership
Oded Weiss, the CEO of Multifonds, expressed enthusiasm about being selected as the fund accounting platform for such a prestigious institution. He highlighted that DBS has a global reputation for excellence in fund servicing. The modern technology platform provided by Multifonds is set to deliver highly flexible and client-centric solutions while promoting unmatched scalability and efficiency.
Oded Weiss also emphasized the importance of the ongoing collaboration with DBS Securities Services, focusing on enhancing the bank's technological capabilities. This partnership aims to develop innovative functionalities that cater to the requirements of other markets in Asia.
About Multifonds
Multifonds operates as a leading global platform that supports fund accounting, investor servicing, and NAV oversight for both traditional and alternative funds. The company is committed to helping financial institutions navigate the complexities of the asset management landscape effectively.
Frequently Asked Questions
What is the Multifonds Fund Accounting Platform?
The Multifonds Fund Accounting Platform is a unified solution for managing both traditional and alternative funds efficiently.
Why did DBS choose Multifonds?
DBS selected Multifonds due to its robust capabilities and ability to handle market-specific requirements effectively.
How does the integration with NAV process benefit DBS?
The integration allows DBS to streamline its operations, resulting in improved efficiency and client service.
What regulatory support does Multifonds provide?
Multifonds collaborates with DBS to develop regulatory reports that comply with the latest market regulations.
What is Multifonds' vision for the future?
Multifonds aims to continue enhancing its platform and functionalities to meet the evolving needs of financial institutions across Asia.
