21 October 2017
visit www.avoka.com

Fidelity joins Calastone network in Australia

30 July 2013  |  1445 views  |  0 Source: Calastone

Calastone, the global transaction network for the superannuation and managed fund industries, today announces that Fidelity Worldwide Investment ('Fidelity') has joined their Global Funds Transaction Network in Australia.

Fidelity, a global leader in asset management, is welcomed to Calastone's growing Australian client base. Their membership of Calastone automates the flows from participating platforms and custodians into Fidelity's Australian fund range.

Fidelity's Head of Operations and Client Services, Doug Bryden said, "Fidelity welcomes the automation of this manual process, the reduced risks and the increased levels of accuracy and timeliness it brings. Our adviser clients value accuracy and speedier turnarounds of transactions which Calastone enables by reducing the manual processing in an automated environment."

Calastone went live in Australia in November 2011 with automation of fund application and redemption transactions. Calastone Australia Managing Director, Shannon Sweeney, said that the industry had long recognised the risks involved in manual processing. "There is a genuine interest and engagement to remove these risks and issues," she said. "These manual risky processes can result in inaccuracy in both the registry system of the fund and the platform, can result in missing or are incomplete transactions, and make the client experience slower and less transparent."

Calastone will expand its Australian network to cover wealth software platforms and self-managed super funds in the near term.

"Better automation in processing will help improve the customer experience for a wide range of investors, both institutional and retail," she said. "Calastone is already a Gateway in Superannuation Superstream automation" she said. "Calastone is working to develop and broaden our network and we look forward to making more announcements in this area soon." 

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.niceactimize.comRegister now

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10308 views comments | 22 tweets | 26 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
9652 views comments | 17 tweets | 24 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9018 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8098 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7834 views comments | 10 tweets | 22 linkedin

Featured job

circa £250K total package
London

Find your next job