RBC Investor and Treasury Solutions (RBC I&TS) is aiming to digitally transform its Australian custody business, along with providing a global middle-office technology platform.
RBC I&TS is currently two years into a four-year programme of digitally transforming its back- and middle-office services.
In Australia, where RBC I&TS has been an outsourcing provider for fund managers for 17 years, the bank is rolling out system enhancements and digital solutions to win new clients.
Most recently, RBC I&TS onboarded Warakirri Asset Management, a US $2.1 billion boutique asset manager for charities, global and domestic pension funds, to its custody, fund administration and risk and investment analytics platform.
“We are finding that asset managers want more than commoditised custody services and want a true partner,” said David Travers, head of RBC I&TS Australia.
“We are looking forward to working with Warakirri to leverage the benefits of our investment in technology with improved efficiencies, enhanced data capabilities, reduced complexity and a seamless user experience.”
RBC I&TS highlighted its multi-year technology programme is tied in with the development of a global middle-office solution.
Speaking to Global Custodian earlier this year, Francis Jackson, head of global client coverage (GCC) for RBC I&TS, explained the Canadian bank is looking to merge its network of data platforms around the world into one global data lake.
“The industry is ingesting billions of terabytes of data into these data lakes, in which service providers process and make the data accessible through APIs, or hold on to it. The future is to use these data lakes to win clients and grow the business,” Jackson said.
RBC I&TS made several senior appointments to its Australia team at the back-end of last year, including custody veteran David Brown to head the GCC business in Australia, and Marian Azer as head of product management for Asia-Pacific and chief operating officer for GCC in Australia.