Temenos revealed that the Temenos Multifonds SaaS platform has gone live for Credicorp Capital, an investment management and advisory firm.
The company is part of Credicorp, one of Latin America’s financial conglomerates, with subsidiaries that include insurance, pension funds, and microfinance providers, as well as BCP, Peru’s largest bank.
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Credicorp Capital offers a variety of financial advising services, with a focus on capital markets, wealth and asset management, and fiduciary firms.
The asset management division of Credicorp Capital, which has investment centres in the US, Colombia, Chile, Panama, Peru, and Mexico, manages balanced portfolios, fixed income, and stocks worth $10.7bn.
After moving from its previous legacy systems, the company launched Temenos Multifonds Global Accounting and Global Investor Servicing with 71 funds. This allowed it to oversee all investor and fund back-office operations across national borders in a single Multifonds instance.
With the new platform, Credicorp Capital can handle high transaction volumes more steadily while utilising enhanced flexibility and easier integration with its digital channels.
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By GlobalDataIn order to stay relevant in a market that is changing, the investment business will be able to develop new product lines and grow its service channels more quickly due to the Temenos Multifonds platform’s agility, automation, and decreased complexity.
Temenos Multifonds on SaaS enables Credicorp Capital to scale elastically in response to business need, making it more affordable and sustainable on a secure, continually updated service.
The scope and depth of the Temenos service will assist lower the Total Cost of Ownership because infrastructure updates are included.
This allows Credicorp Capital to focus its resources on key business activities while assuring a stable and adaptive IT environment.
Axel Pozo Hammar, CTO, Credicorp Capital, stated: “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.”
Oded Weiss, managing director – Multifonds, Temenos, added: “We are delighted to see Credicorp Capital go live with Multifonds SaaS. As one of Latin America’s largest financial groups, they recognized the increased agility, efficiency, and scalability of running their fund administration on Temenos Multifonds SaaS.”
