Temenos (SIX: TEMN), the banking software company, today announced that Citi has extended its existing contract for Temenos Multifonds Global Accounting to drive operational excellence, reduce costs and deliver digital customer experiences for its global fund services business.
Temenos’ platform and integrated operating model delivers localized accounting and reporting to underpin the management of Net Asset Value (NAV) production.
Citi Equities and Securities Services, a long-standing partner of Temenos for more than a decade, provides an end-to-end service proposition for asset managers in more than 80 countries across the globe. Temenos Multifonds Global Accounting product provides an agile and flexible global platform on which Citi can expand its business and deliver differentiated services to customers.
Max Chuard, CEO, Temenos, said: “We are proud to support Citi’s global fund services business growth. The fund industry is an ever-changing environment, defined by evolving regulatory requirements, expense pressures and sophisticated client demands. For businesses to thrive in such a landscape, we believe investing in innovative and flexible modern software is key. Temenos Fund Administration products have the hallmark of excellence, delivering the cost and operational efficiencies to enable businesses to grow exponentially while also future-proofing their operations.”