Australian fund administrator FundBPO has selected wealth management technology provider DST Systems to boost automation of its fund administration offering.
Under a five year license agreement, DST Systems will deliver its enterprise workflow solution, Transfer Agency (TA), to FundBPO.
The solution will be first launched across FundBPO’s Australian unit registry (transfer agency) business for a range of clients such as equity trustees, Grant Samuel Funds Management, SG Hiscock & Company and Smarter Money Investments.
The selected platform combines the company’s business process management platform AWD with pre-configured global best practice TA processes.
FundBPO CEO Martin Smith said: “This solution will allow us to implement global best practice processes while driving significant efficiency gains across our business. We will be able to run a paperless unit registry business with real-time service level reporting, client interaction and management of a fund’s transaction life cycles.
“To quantify this, the 9,000+ faxes, letters and emails we receive from investors each month will be integrated and indexed in AWD, improving turnaround times and increasing transparency and process controls for our clients.”
Plans are on to eventually extend AWD’s workflow capability to other geographies and business divisions.