CACEIS has launched a new feature on its online social network-based TEEPI platform that will facilitate European fund distribution.
The French bank has enhanced the platform with a ‘Market Place’ feature, a free-of-charge service enabling investors to buy or sell units of funds distributed in Europe on the TEEPI platform.
Using the search engine, users can identify funds on the platform that match specific investment criteria and can buy or sell units or access further information.
“TEEPI is a major breakthrough for the market and we are proud of this pioneering solution for direct fund distribution. Digital solutions are key to improving efficiency and business opportunities, and TEEPI’s new features offer unparalleled advantages to the market,” said Joe Saliba, deputy CEO, CACEIS.
TEEPI, launched in 2016, was originally designed to assist companies with Solvency II, MiFID II and PRIPS reporting requirements. CACEIS has since broadened the scope of the platform with over one million reports exchanged on it.
TEEPI’s developments have been made in collaboration with a group of pilot clients, and the platform will continue to develop throughout 2019.
A unit aggregation function will give investors a consolidated view of fund units held at transfer agents.
In addition, TEEPI’s KYC (Know Your Customer) management will be fully digitalised, as the online filing of investor identification documents will allow the opening of as many accounts as necessary with transfer agents.
Asset management companies will also benefit from an additional digital channel for account opening and subscriptions.
“TEEPI is further proof of CACEIS’s expertise in fund distribution, digital innovation and the integration of disruptive technologies. TEEPI’s fully open architecture and innovative unit aggregation view are already attracting strong interest from the market,” added Laurent Majchrzak, group product director, CACEIS.