Multifonds today announced that DBS, Southeast Asia’s largest bank by assets, has gone live with Multifonds Fund Accounting Platform in Singapore, Hong Kong SAR and Indonesia. The solution was successfully implemented in fifteen months by a joint DBS and Multifonds team.
Multifonds is a single fund accounting platform that supports traditional and alternative funds and combines asset servicing, position keeping, valuation, and accounting functions across the bank’s key Asian markets. The fully automated solution enables DBS to streamline its end-to-end operations and achieve high rates of STP to improve service quality and support client growth in the region’s most dynamic markets.
DBS is the first client in Asia to adopt the latest version of the Multifonds solution. This empowers DBS to significantly enhance its operational efficiency with Workflow and Exception Manager (WEM) and streamline the NAV process through the integration of Fund Accounting and Transfer Agency systems.
Multifonds was selected by DBS after a rigorous evaluation process and detailed proof of concept demonstrating the platform’s capability to handle the specificities of each market, with a truly multi-asset coverage including complex derivatives across Credit, FX, IR and EQ, ETFs, and PEs. This supports a wide range of fund structures and requirements, such as advanced PL allocation per share class or master segment structure with rebates fees.
In addition, Multifonds, in collaboration with DBS, is actively contributing to the development of regulatory reports tailored to the dynamic Indonesia market, helping to ensure that these reports remain current and aligned with the latest regulatory changes. These insights help the bank and its clients keep abreast of the evolving financial landscape.
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