Dion Global Solutions, technology partner to the financial services industry, has developed an electronic interface between its Invantage solution and the leading financial services platform, Cofunds.
The interface delivers straight through processing for the dealing and administration of Cofunds holdings. The solution is now available to all mutual clients using Dion's Invantage or Portfolio solution and has a very short implementation timescale.
Already live at Heartwood Wealth Management, the interface reduces both manual processes and rekeying of data exchanged between Cofunds and Dion's Invantage solution. The direct connection offers a full service across fund execution, settlement, asset servicing and commission management, providing important time savings while ensuring both systems are fuelled with accurate, validated and up to date information.
"We are seeing funds investment growing in popularity in the wealth management sector because of the diversification benefits it brings," says Ron Tomlinson, Head of UK Development at Dion. "At the same time, current market pressures mean our clients are always looking for the most efficient way to process their investments. The development of the interface is a direct reaction to this, not only does it reduce risk through removing the need for manual data processing, it also makes it easier and more cost-effective to execute and manage funds within Invantage."
"As the leading platform for financial services, our goal is to make investing easier for all our clients," said Bradley Lewis at Cofunds. "The Dion interface supports us in this goal by streamlining workflow for our clients. The seamless integration of the interface means wealth managers can focus on the tasks that really add value to their clients."