Standard Chartered and FundsDLT Join Forces to Digitize Fund Services
Discover how the partnership between Standard Chartered and FundsDLT is revolutionizing fund services through digitization, ensuring efficiency and security.
Standard Chartered has announced a strategic partnership with FundsDLT to modernize transfer agency services in the Middle East and North Africa using distributed ledger technology (DLT) and cloud computing. This collaboration aims to streamline operations and expedite processes within the asset management sector, ultimately enhancing client servicing.
The partnership will leverage a cloud-based Software as a Service (SaaS) platform developed by FundsDLT to revolutionize traditional transfer agency services, which have historically been hindered by manual-intensive tasks, particularly in retail fund distribution. By embracing this new technology, the alliance seeks to address these challenges and improve service delivery across Asia, Africa, and the Middle East, with an initial focus on the Middle East and North Africa region.
The DLT-based front-to-back solution represents a pragmatic approach to tackling long-standing inefficiencies in the asset management industry. FundsDLT's technology is expected to provide asset managers with advanced digital capabilities, enhancing transparency and efficiency. This initiative underscores the shared commitment of Standard Chartered and FundsDLT to drive digital innovation in the fund industry.
The significance of this partnership is further emphasized by FundsDLT's backing; the company was founded by the Luxembourg Stock Exchange and is currently pending acquisition by Deutsche Börse Group, subject to regulatory approval. This move signals a strong vote of confidence in FundsDLT's technology and its potential impact on the financial services industry.
In conclusion, the collaboration between Standard Chartered and FundsDLT holds great promise for revolutionizing transfer agency services in the Middle East and North Africa, ultimately benefiting the asset management sector and its clients.
Standard Chartered and FundsDLT Join Forces to Digitize Fund Services
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