DST Global Solutions, a market-leading provider of Investment Management software and services, today announced a new major release of the Bluedoor wealth management system for investment administration and registry.
The latest Bluedoor 2.0 release offers financial institutions, fund administrators and asset managers seamless Direct Equities Trading, Model Portfolio and Term Deposit STP capabilities all on the one technology platform.
All existing Bluedoor solution clients will be provided with the new features with tailored configurations based on individual product and fund management strategies. AXA Asia Pacific collaborated with DST Global Solutions on this development and will introduce the Direct Equities Trading, Model Portfolios and Term Deposit administration facilities to its North product platform.
According to Martin Spedding, Executive Director, DST Global Solutions Bluedoor, "This is the single most significant functional enhancement since Bluedoor was launched to the Australian marketplace in 2006. These new capabilities are central to our goal of providing a transformational technology solution for retail platforms, superannuation fund administrators and industry funds by delivering operational efficiency, unparalleled investment options and user functionality."
He continued, "Our clients have already reported that the Bluedoor solution has reduced client administration costs in the order of 40 percent. These new enhancements provide a significant extension to Bluedoor's market-leading position and open up new opportunities for clients to further enhance their service and product features whilst simultaneously reducing operating costs."
The new Direct Equities Trading functionality is designed to enable Bluedoor 2.0 clients and their advisers and members to trade direct to market in real time without having to build or purchase another stand-alone system to integrate to their existing registry framework.
For Mark Cassar, Executive Director of DST Global Solutions Bluedoor and product architect for the solution, the new enhancements will provide a platform that can meet the growing needs of investors and superannuants. "Industry funds, third party administrators, retail funds and self- managed superannuation funds will now be able to invest and manage direct equities, with all of the associated corporate actions in the same seamless way as their managed funds."
"This new Direct Equities functionality, together with the existing and new capabilities in the Bluedoor 2.0 release, will enable Bluedoor clients to narrow the gaps in costs (otherwise achieved by scale), features and service that have for some time differentiated industry participants from each other," said Cassar.
The new Model Portfolio functionality is designed to complement the Direct Equities Trading capability to introduce the ability for providers to diversify into new products such as self-managed and individually managed accounts.
The underlying exception-based model of the Bluedoor wealth management solution is also designed to facilitate the new Term Deposit administration capability. Investors can self-service transact with a range of term deposit providers using straight through processing technology over the web. With flexible transaction benefits for both investors and advisors, this new service is able to increase service levels, without increasing the cost of doing business.
Philip Hogan, Regional Head of DST Global Solutions for Australia and New Zealand, commented: "We believe that this release of our Bluedoor wealth management solution will set the benchmark for years to come."
"Already we have witnessed our foundation Bluedoor client achieving unparalleled operational efficiency and award-winning recognition for their ability to deliver new and innovative solutions to meet the rapidly changing needs of their investors. We are excited by seeing these results and look forward to the continued rollout of the Bluedoor solution across the local market," Hogan concluded.
The Bluedoor 2.0 solution was developed in Melbourne, Australia.