Investment management and advisory company Credicorp Capital has gone live on Temenos Multifonds delivered as software-as-a-service (SaaS).
Credicorp Capital is a part of Latin American financial group Credicorp whose subsidiaries include insurance, pension funds, and microfinance providers along with Peru-based bank BCP.
The investment management and advisory firm engages in providing financial advisory services with a focus on the areas of wealth and asset management, capital markets and fiduciary businesses.
Credicorp Capital’s asset management business has $10.7bn in assets under management in fixed income, equities, real assets and balanced portfolios. The firm has investment centers in Chile, Panama, Colombia, Peru, Mexico and the US.
By transitioning from its existing legacy systems, the company went live with 71 funds on Temenos Multifonds Global Accounting and Global Investor Servicing.
It allows Credicorp Capital to manage all back-office operations for investors and funds across countries in a single instance of Multifonds.
The new platform also supports Credicorp Capital to supervise large transaction volumes with enhanced stability, while offering improved flexibility and easier integration with its digital channels.
Credicorp Capital chief technology officer Axel Hammar said: “We’re pleased to go live on Temenos Multifonds on SaaS, which aligns with our regional vision and positions us strongly for future growth.
“This strategic choice allows us to remain agile and responsive to the changing needs of our business, while ensuring a strong focus on our core competencies in asset management.”
The Temenos Multifonds platform’s automation and reduced complexity will help the investment firm to roll out new product lines and expand its service channels more quickly, according to the Swiss banking software provider.
By leveraging Temenos Multifonds on SaaS, Credicorp Capital will scale in line with its business demand in a more cost-effective and sustainable way.
Temenos said that its service will help lower the total cost of ownership, as infrastructure upgrades are part of the service.
This will also help Credicorp Capital to focus its resources on core business activities while ensuring a robust and adaptable IT environment.
Temenos Multifonds managing director Oded Weiss said: “We are delighted to see Credicorp Capital go live with Multifonds SaaS. As one of Latin America’s largest financial groups, they recognised the increased agility, efficiency and scalability of running their fund administration on Temenos Multifonds SaaS.”
