Schroder Investment Management has selected the Babel financial messaging platform of transfer agency and wealth management solutions provider Bravura Solutions to streamline its STP functions. The asset manager will use the platform to boost efficiencies and reduce costs, as it centralizes localized transfer agency (TA) processing, by providing a global center of excellence in Luxembourg.
Babel integrates with Schroders proprietary funds solution that interfaces to Bravuras Global Fund Administration System (GFAS) transfer agency platform. The end-to-end solution enables multiple connections and messaging standards to be managed at a single source, enabling increased levels of automation.
Schroders was heavily involved in the development of Bravuras Depository Trust and Clearing Corporation (DTCC) connection and has deployed the offering across its business. The private circuit provides access to the National Securities Clearing Corporation (NSCC) network and its associated services, enabling Schroders to take advantage of high speed message transfer services in the US.
Direct connectivity to NSCC, using Babel to replace our previous arrangement of access via an intermediary agent, has bought us closer to our clients in the Americas and has enabled us to deliver a higher quality of service, said Gary Janaway, head of Operations at Schroder Fund Services, Luxembourg.
Schroders manages 194.6 billion on behalf of institutional and retail investors, financial institutions and high net worth clients from around the world.
Babel connects message providers with any distributor platform and TA back office system. Processing any message format, it integrates with Bravuras TA solution suite, as well as a range of proprietary third-party TA systems and order management solutions.
(JDC)