The Bank of New York Mellon Corp. is acquiring Milestone Group, a fund management technology vendor, so that BNY Mellon can provide its custody banking clients with more digital solutions for net asset value (NAV) support, officials say. The Milestone Group offers the pControl platform for fund and investment automation. The acquisition will help BNY… Read More >>
Apifiny Launches Blockchain-based Settlement Network
‘Roxe’ Pitched as a New Way to Clear & Settle Apifiny, a San Francisco-based global transfer network services provider, has officially debuted a settlement network based on blockchain technology, dubbed Roxe, that has been designed for “instant global clearing and settlement of payments and remittances, traditional assets, and digital assets,” according to the vendor…. Read More >>
Major Banks to Mentor FinTech Startups in Asia
FinTech Innovation Lab to Help Eight Entrepreneurs Eight financial technology vendors with a range of new offerings including a know your customer (KYC) combination with distributed ledger technology, have been accepted into a 12-week mentorship program in the third annual FinTech Innovation Lab Asia-Pacific, officials say. Other startups participating in the lab are working on… Read More >>
BNY, SunGard Struggle to End NAV Crisis
Fund custodian BNY Mellon’s net asset value (NAV) pricing crisis appears to be ongoing as the firm stated that it will be working over the weekend to fix the problems caused by SunGard’s hosted InvestOne system. In the meantime, BNY Mellon is helping affected clients that offer mutual and exchange traded funds via contingency measures… Read More >>
BNY Mellon Still Grappling with SunGard InvestOne Outage
As of last night, BNY Mellon is reporting that it is still having system problems with the SunGard InvestOne platform that it uses for the processing of net asset values (NAVs) “of certain mutual funds and ETFs [exchange-traded funds].” In an online notice for Aug. 26, 10:30 p.m. ET, BNY Mellon reports: “The SunGard InvestOne… Read More >>
Temenos Jolts Fund Administration Market
Temenos Group, maker of the T24 core banking solution, is moving to aggressively take advantage of the “fast-growing fund administration market” via the $248.7 million (€235 million) acquisition of fund administration software vendor Multifonds, which has been in the market since 1995 and has more than 30 of “the world’s largest financial institutions” on its… Read More >>
Asset Manager Picks Linedata to Revamp Workflow
Linedata, a solutions provider focused on the investment management and credit industries, reports that Paris-based Meeschaert Asset Management, founded in 1935, has implemented the vendor’s platform to manage front-to-back asset management workflow. The Linedata platform includes: Longview, which provides portfolio management tools and workflows, execution management tools and analytics, allocation tools, compliance monitoring, and integrated… Read More >>
