Nordea Investment Funds, part of the Nordea Group and the largest asset manager in the Nordics, has chosen Temenos Multifonds for its investor servicing activities in Luxembourg, where it provides in-house administration for its €100 billion plus assets under management.
Multifonds cloud-based solution will replace existing on-premises systems, allowing the firm to scale and future-proof its operations. Nordea Investment Funds plans to consolidate multiple systems on a single, cloud-native global platform, increasing efficiencies, reducing risk, and digitalising operations and client interfacing.
“Temenos open technology, built on cloud-native components, will allow us to bring new services to market faster to enhance the client experience and scale efficiently to support increased volumes,” said Markku Kotisalo, head of fund administration, Nordea Investment Funds.
In particular, the firm will be able to leverage a flexible retrocessions engine that can be customised to meet changing investor needs, with flexible accrual calculation and payment functionality, as well as fully integrated SWIFT connectivity to send and receive messages directly.
“We are proud to support Nordea Investment Funds in transforming its transfer agency capabilities in Luxembourg. They share our belief in the power of open technology and the cloud to unlock innovation and drive growth,” added Oded Weiss, managing director, Temenos Multifonds.