BNP Paribas Securities Services extends contract with Temenos
BNP Paribas Securities Services has extended its license for Temenos Multifonds Global Accounting and Temenos Multifonds Global Investor.
Temenos’ single, global software platform and integrated operating model will deliver localised accounting and reporting to underpin the management of BNP Paribas Securities Services’ fund administration operations.
BNP Paribas Securities Services has been a partner of Temenos for more than 20 years, initially deploying the Temenos Fund Administration platform in Luxembourg to replace its legacy architecture and deliver the fundamental scalability needed for BNP Paribas to rapidly onboard new countries onto the global platform. By using a scalable platform and enabling more automated exception-based processing, BNP Paribas Securities Services will benefit from greater operational efficiency, reduced costs and new growth opportunities.
As part of this long-standing strategic partnership, Temenos recently completed the integration of Temenos Multifonds Global Accounting into BNP Paribas Securities Services’ domestic fund administration business in France. Achieved in under two years, the project covered 1,300 fund accounts, representing over 20% of the total French market.
Alain Pochet, Head of Client Delivery at BNP Paribas Securities Services, says: “We are delighted to continue this strategic, long-standing partnership with Temenos. Its investment in R&D means that we will continue to benefit from cutting-edge, next generation banking software, enabling us to enhance operational efficiency and streamline our operating model to enable us to quickly onboard new jurisdictions and grow our business over time.”
Max Chuard, CEO, Temenos, says: “It is a great privilege to continue our ongoing support of BNP Paribas Securities Services as they continue to optimise their global fund administration operations and enhance operational efficiency. Throughout this long-standing partnership, our goals have been consistently aligned to BNP Paribas’ who have adopted our market-leading products to enhance fund administration with sophisticated workflow, production and control techniques. With a 20-year track record for providing leading fund administration software that supports USD7 trillion assets and more than 30,000 funds across 30 countries, Temenos has the blueprint for transformative software that delivers greater efficiencies, reduced costs and enables our clients to take advantage of future growth opportunities.”