HSBC has received approval from the Taiwan Banking Bureau to on-board mutual fund order placement services for asset managers locally. This is as an extension of HSBC’s regional fund administration offering, enabled through a local support model in Taiwan.
Category: Product
BP2S’s Ffyn reports strong growth
BNP Paribas reports that Ffyn, the collaborative fund information platform supported and incubated by BNP Paribas Securities Services, now has 53 asset managers and investors on board, whilst collating information on more than 100,000 funds. Launched a year ago, Ffyn aims to become a single source of information for the mutual fund industry by bringing…
HSS to deploy Wall Street Office for private loans admin
HSBC has chosen the IHS Markit Wall Street Office (WSO) platform to provide private loan administration services for clients of its securities services business. IHS Markit will perform the loan administration and reconciliation process, which will integrate into HSBC’s fund accounting platform. The service will provide clients with real-time access to loan portfolio reporting. Private…
FNZ and State Street to collaborate on wealth manager servicing
FNZ and State Street are collaborating on a new wealth manager servicing venture. FNZ will acquire a majority stake in State Street’s wealth manager services (WMS) business, with State Street retaining a minority interest. Terms of the transaction, which is expected to close in Q4 2020, are not being disclosed. Upon full implementation, the new…
BP2S automates key asset servicing documentation with NLU and IDP
BNP Paribas Securities Services has automated the processing of key asset servicing documentation, part of the group’s digital transformation programme. The initiative, which took 12 months to implement, aims to enhance back office operational efficiency, increase straight-through processing rates and reduce services turn-around times for clients. Using Natural Language Understanding (NLU) and machine learning, including…
Rod Cooper and Tim Wood launch new consulting firm
Two veterans of the asset servicing industry, Rod Cooper and Tim Wood, have launched a UK-based consulting practice, Cooper Wood & Associates. The aim of the business, which will focus on the asset servicing sector, is to add measurable financial improvements to clients’ businesses. Cooper Wood will consult on operational and supplier efficiencies, revenue protection,…
Sudrania launches admin platform for digital assets
Sudrania Fund Services has launched Seamless Crypto, its fund administration platform designed specifically to handle the unique operational needs of digital assets. Seamless Crypto allows investment managers to fully outsource their fund administration and back-office operations via a cloud-based solution, and provides all the functionality needed to manage cryptocurrency funds.
BNY Mellon launches new data & analytics solutions
BNY Mellon has launched three new data and analytics solutions offerings: Data Vault is a cloud-based data and analytics platform that supports the rapid onboarding of data to provide greater flexibility and accelerate client innovation and discovery. Combining this with a scalable, machine-learning approach to data quality, users can more quickly and easily interact with…
HSBC launches UK TA product
HSBC Securities Services has launched its UK transfer agency business, servicing both retail and institutional investors, supported by a new Edinburgh-based operation with 80 staff managing back-office processing and contact centre functions. The UK becomes the thirteenth market where HSS offers transfer agency.
Northern Trust launches new series trust
Northern Trust has launched Datum One Series Trust, the second trust it now offers. Advisers Investment Trust, launched in 2011, has grown to approximately USD18bn in assets. The series trusts allow managers to focus on distributing their funds under their own brand name and marketing strategy while leveraging Northern Trust’s infrastructure and back-office services.