GENEVA, Switzerland, May 08, 2024 (GLOBE NEWSWIRE) -- Today, Temenos (SIX: TEMN)
announced that Multifonds has extended its relationship with Citi Securities
Services to consolidate its current regional fund accounting operation into a
global operating model on Temenos Multifonds
(https://www.temenos.com/solutions/fund-administrators/temenos-multifonds/)
delivered as SaaS.
Citi Securities Services provides end-to-end services for asset managers
globally, using Multifonds as part of its existing investment accounting
platform.
The move to a global operating model for its global fund services business and
from an on-premise system to Multifonds SaaS enables Citi Securities Services to
manage its business across multiple geographies and asset classes efficiently on
a single platform which includes delivering fund accounting services earlier in
the day across all time zones.
Citi's Global Head of Securities Services, Okan Pekin, commented: "The move to
SaaS for our global fund services business enables Citi Securities Services to
deliver global consistency in our client delivery as we continue to drive our
data strategy forward and move to the cloud for core products and processes."
Oded Weiss, Managing Director - Multifonds, Temenos, said: "We have been
partnering with Citi Securities Services for over 20 years. This program is a
natural part of the evolution of moving into SaaS, where our clients can achieve
greater efficiencies and economies of scale to deliver better and faster data
and services to their clients."
Temenos Multifonds supports traditional and alternative funds and combines key
asset servicing, position keeping, valuation and accounting functions for all
structures of pooled vehicles and funds, across multiple jurisdictions.
The platform offers a flexible, real-time investment accounting engine with
integrated Investment Book of Records (IBOR) and Accounting Book of Records
(ABOR) views, enabling seamless support and services to middle and back offices
throughout each day.
About Temenos
Temenos (SIX: TEMN) is the world's leading platform for composable banking,
serving clients in 150 countries by helping them build new banking services and
state-of-the-art customer experiences. Top performing banks using Temenos
software achieve cost-income ratios almost half the industry average and returns
on equity 2X the industry average. Their IT spend on growth and innovation is
also 2X the industry average.
For more information, please visit www.temenos.com (http://www.temenos.com)
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