Temenos has extended its relationship with Citi Securities Services to consolidate its current regional fund accounting operation into a global operating model on Temenos Multifonds delivered as SaaS.
Citi Securities Services provides end-to-end services for asset managers globally. It uses Multifonds as part of its existing investment accounting platform.
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The move to a global operating model for its global fund services business and from an on-premise system to Multifonds SaaS enables Citi Securities Services to manage its business across multiple geographies and asset classes efficiently on a single platform. This includes delivering fund accounting services earlier in the day across all time zones.
Citi’s Global Head of Securities Services, Okan Pekin, said: “The move to SaaS for our global fund services business enables Citi Securities Services to deliver global consistency in our client delivery as we continue to drive our data strategy forward and move to the cloud for core products and processes.”
Oded Weiss, MD, Multifonds, Temenos, added: “We have been partnering with Citi Securities Services for over 20 years. This programme is a natural part of the evolution of moving into SaaS. Our clients can achieve greater efficiencies and economies of scale to deliver better and faster data and services to their clients.”
Temenos Multifonds supports traditional and alternative funds and combines key asset servicing, position keeping, valuation and accounting functions for all structures of pooled vehicles and funds, across multiple jurisdictions.
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By GlobalDataThe platform offers a flexible, real-time investment accounting engine with integrated Investment Book of Records (IBOR) and Accounting Book of Records (ABOR) views, enabling seamless support and services to middle and back offices throughout each day.
