Royal Bank of Canada (RBC) Financial Group has rolled out Sanchez Computer Associates' Web-based mutual fund order management system, Sanchez Funds, to 1600 financial planners across 1300 domestic branches.
The product is integrated with RBC's existing technology platform to distribute third-party mutual funds using unique rules, commission structures and edits.
Sanchez Funds automates mutual fund order management and provides straight-through processing from the desktop to the fund company. The package updates back-office systems with mutual fund orders and provides automatic dividend and activity processing, complete with reconciliation, to fund companies.
John Truman, senior vice president and head of technology for RBC Investments, says: "By leveraging our existing technology investments, Sanchez Funds allows us to offer comprehensive capabilities with minimum risk and disruption to our business - for maximum return on investment."
Sanchez says the RBC roll out was completed within four months.