FundsDLT’s blockchain solution for fund distribution goes live

The platform will allow asset managers to benefit from full straight-through processing and process automation, as well as real-time cash reconciliation.

By Wesley Bray

FundsDLT has gone live with its blockchain-based fund distribution platform, with Azimut Investments as the first asset manager user.

Luxembourg-based Azimut Investments, which manages in excess of €75 billion of assets, will utilise the platform for full straight-through processing (STP) and process automation of the fund distribution process.

The fund manager will also benefit from real-time cash reconciliation, also enabling the activation of new digital distribution channels.

“We are pleased to work with this ground-breaking platform which has great potential for opening up investment funds to a broader public,” said Giorgio Medda, co-CEO and global head of asset management at Azimut.

“This is a further step forward in our strategy of technological innovation in a wider FinTech ecosystem that is clearly the future for investment fund distribution. Simplicity and efficiency in this area are extremely important to us and FundsDLT delivers.”

FundsDLT received regulatory approval for the go-live of the platform at the beginning of July. It runs on Consensys Quorum, a permissioned enterprise blockchain based on Ethereum, and is designed to simplify the funds distribution process and foster greater financial inclusion to a wider range of investors.

It is also backed by the likes of Clearstream, Credit Suisse, Natixis Investment Managament, and the Luxembourg Stock Exchange.

“Asset and wealth managers can now be able to have a stronger relationship with and more knowledge of the final investor while reducing costs. The data and insights inherent in a DLT infrastructure will also allow our clients to propose more personalised products and services and grow their client base,” added Olivier Portenseigne, CEO of FundsDLT.

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