E. Sun Bank, in Taipei, is the first bank to go live with Brown Brothers Harriman’s fully automated execution of fund orders, and receipt of statuses and confirmations, as part of the Taiwan Depository & Clearing Corporations (TDCCs) offshore fund automation service.
Via BBH Infomediary, E. Sun Bank can now send order files directly from its accounting system to fund promoters and transfer agents globally. Corresponding status and confirmation messages are received and uploaded automatically into their accounting system, streamlining the process.
Edward Chen, general manager – Trust Department of E. Sun Bank said: E. Sun Bank places great emphasis on efficiency, and is actively involved in innovative efforts to provide better financial services to its customers. This innovative fund automation solution with BBH not only helps our customers enjoy timelier fund transaction information, but also significantly enhances the efficiency of the operational process. It creates a win-win situation for our customers, E. Sun Bank, as well as the fund promoters and is a major innovation achievement of the wealth management industry in Asia.
BlackRock is the first of E. Sun Banks fund promoters to go live with the solution. Jeffrey Plein, managing director said: We are delighted to help continue to drive automation across the Taiwanese investment management industry. Automation will bring advantages to the entire market in terms of capacity for future growth, efficiency gains, speed of execution and risk reduction.
(JDC)