Italian asset manager AcomeA successfully tests direct to consumer distribution using blockchain

Source: Fundsquare

AcomeA SGR, a leading Italian asset management company, has successfully completed an investment fund shares transaction test and related payment through Fundsquare’s blockchain-based infrastructure FundsDLT and the Italian API platform Fabrick.

The transaction allowed AcomeA SGR to carry out, through its Gimme5 service for direct distribution of funds to savers, real-time subscription and redemption transactions of shares of investment funds and related payments, thanks to the use of smart contracts and connections via an API to the banking network.

The test demonstrated the efficiency and cost savings of a new generation ecosystem for processing D2C orders in investment funds, where the various actors involved in the distribution process can interoperate and offer a digital front-to-back experience to final customers.

Giordano Martinelli, Vice President and Head of technology at AcomeA SGR emphasizes: “AcomeA SGR is proud to be among the pioneers in Italy in the use of blockchain for the asset management sector. The project is part of the series of activities that AcomeA has always carried out to simplify and make the world of asset management more accessible. The importance of the test lies not only in the technical aspects; the collaboration with Fundsquare and Fabrik demonstrates the value of cooperation in the Fintech sector; working together we are able to bring notable benefits not only to operators in the asset management sector, but above all also to savers.”

The project was carried out in collaboration with Fundsquare, for the FundsDLT part, and with Fabrick for the API and banking part.

Giulio Rattone, Fabrick's Head of Product Dev Platform added: “The test concluded is a concrete example of the great value that can generate the union between knowledge of the processes and dynamics of the financial world, the skills on the most advanced technologies and the vision on new business and management models. A meeting point that represents the very essence of the ecosystem that Fabrick feeds around itself ".

Olivier PORTENSEIGNE, Fundsquare Managing Director concluded: ““European fund actors continue to move towards the future with ongoing innovation in the D2C space. The FundsDLT initiative aims to help investment fund companies improve their buyer journeys, reduce costs, increase efficiency and ultimately create value for investors.

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