BNP Paribas Securities Services has extended its license for Temenos Multifonds Global Accounting and Temenos Multifonds Global Investor which will deliver localized accounting and reporting to underpin the management of the bank’s fund administration operations.
As a partner of Temenos for more than 20 years, BNP Paribas Securities Services had initially deployed the Temenos Fund Administration platform in Luxembourg to replace its legacy architecture. By using a scalable platform and enabling more automated exception-based processing, BNP Paribas Securities Services will benefit from greater operational efficiency, reduced costs, and new growth opportunities.
BNP Paribas Securities Services has integrated the Temenos Multifonds Global Accounting into its domestic fund administration business in France after a nearly two-year process that covered 1,300 fund accounts, representing over 20% of the total French market.
Alain Pochet, Head of Client Delivery at BNP Paribas Securities Services, commented: “We are delighted to continue this strategic, long-standing partnership with Temenos. Its investment in R&D means that we will continue to benefit from cutting-edge, next-generation banking software, enabling us to enhance operational efficiency and streamline our operating model to enable us to quickly onboard new jurisdictions and grow our business over time.”
Max Chuard, Chief Executive Officer at Temenos, said: “It is a great privilege to continue our ongoing support of BNP Paribas Securities Services as they continue to optimize their global fund administration operations and enhance operational efficiency. Throughout this long-standing partnership, our goals have been consistently aligned to BNP Paribas’ who have adopted our market-leading products to enhance fund administration with sophisticated workflow, production, and control techniques. With a 20-year track record for providing leading fund administration software that supports $7 trillion assets and more than 30,000 funds across 30 countries, Temenos has the blueprint for transformative software that delivers greater efficiencies, reduced costs and enables our clients to take advantage of future growth opportunities.”
BNP Paribas Securities Services has recently added a new catalog of fund accounting APIs in its fund administration business, designed to transform the way the bank communicates with its asset manager clients as it automatically updates clients’ systems with information specific to their business.