Home Business South Africa’s largest fund administrator goes Live with Temenos

South Africa’s largest fund administrator goes Live with Temenos

Agility and scalability of Temenos platform supports Curo’s large multi-client fund base and rapid pace of product evolution in the investment industry

GENEVA, Switzerland,

Temenos Multifonds Global Accounting platform enables Curo Fund Services to deliver seamless back office service; Curo is a third-party administrator for 3,000 funds with assets under management in excess of $150 billion; Agility and scalability of Temenos (www.Temenos.com) platform supports Curo’s large multi-client fund base and rapid pace of product evolution in the investment industry.

Temenos, the banking software company, today announced that Curo Fund Services (www.CuroFund.com), South Africa’s largest third-party administrator, has gone live with Temenos Multifonds Global Accounting platform, completing the first phase migration of funds from its five legacy systems to a single instance of Temenos’ award-winning funds administration platform.

The move to Temenos’ platform has transformed Curo’s operating model by simplifying its architecture and enabling more automated exception-based processing to increase efficiencies, reduce costs and open up new opportunities for growth.

Curo provides investment operations and fund accounting services to life companies, asset managers and multi-managers. It employs 300 people and services 3,000 funds with assets under administration of more than $150 billion. Its clients include Sanlam and Old Mutual, South Africa’s largest asset managers.

With Temenos’ platform, Curo is able to deliver a seamless back office service with a higher degree of automation and straight through processing. This reduces risk and cost by reducing human processing and enables Curo to deliver a best-in class service to clients with automated information flows between the administrator and asset managers.

READ ALSO  Fuel Scarcity Looms as NUPENG Suspends Distribution, Shuts Stations in Rivers

Having successfully completed a first phase migration of funds, Curo expects to transition all 3,000 funds to the Temenos platform during 2021.

Temenos’ platform has proved it can easily scale to meet the needs of Curo’s large multi-client fund base. It has also demonstrated it supports requirements specific to the South African market, including complex life and pension portfolio structures and reporting; market specific requirements for asset classes such as bonds and swaps; and South Africa tax reporting and regulatory reporting.

Curo is now looking ahead at international opportunities. Operating its business on Temenos Multifonds Global Accounting gives Curo the agility to expand geographically and support its local clients that operate in international markets.

APO

READ ALSO  CBN Urged to Charge N25 for N100,000 and Below Transactions

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Woman dies in Anambra accident, 10 others escape

A woman has been reportedly met her untimely end in a fatal crash that occurred at T-junction Eziowelle by Nteje-old road.

Anambra 2021: PDP candidate Ozigbo promises to partner with the church

The Peoples Democratic Party (PDP) standard bearer in the November 6 governorship election, Mr Valentine Ozigbo has promised to partner with...

N50m fraud lands ex-Ecobank Manager in EFCC net

By: Noble Treasure The Economic and Financial Crimes Commission, (EFCC), Enugu zone has arraigned Ecobank Nig. Ltd and...

Cholera outbreak: Nigeria recorded more deaths

The DG, Nigeria Centre for Disease Control (NCDC) Dr. Chikwe Ihekweazu in an interview with the Nigerian News Agency (NAN) on Monday...

Stop wasting money on Judiciary, Ebube Muonso tells Anambra politicians

By: Solomon Mokwugwo As the November 6 governorship election in Anambra State draws closer, the Spiritual Director of...
Shares
×

Hello!

Click one of our representatives below to chat on WhatsApp or send us an email to admin@foxchannelonline.com

× How can I help you?