UBS Fund Services (Luxembourg) (UBS FSL) has selected Tech Mahindra’s platform, Tech Mahindra Managed Data Services (MDS), to support its asset managers, wealth managers, investment banks, custodians and administrators.
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The contract has been signed for an initial term of five years. Under the terms of the contract, Tech Mahindra will provide UBS FSL with a fully managed service across four major areas of data management, namely securities reference data, pricing, corporate actions and tax data.
According to Tech Mahindra, its Tech Mahindra MDS supports the complete data lifecycle of sourcing, cleansing, enrichment and distribution to multiple locations. It also provides ‘golden copy’ creation to underpin a centralized global operating model. The platform supports multiple pricing points across all time zones, markets and asset types.
Pierre-Antoine Boulat, CEO of UBS FSL, said: "The process of managing securities data and pricing has evolved towards platform-based offerings. Forward-thinking financial institutions are increasingly looking to acquire those services from best-in-class service providers.
"By leveraging the Tech Mahindra MDS platform, we can achieve substantial cost savings and process efficiencies while maintaining our focus on delivering high quality services to our fund administration clients."
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