Polish insurer Aegon Poland has joined Calastone's global funds transaction network in order to automate its transactions processes, the vendor has announced.
Aegon Poland has EUR 1.2 billion (approximately $1.6 billion) in assets under management, and is part of the wider Aegon Financial Group, which includes pensions and asset management divisions. The firm's Polish fund transactions will now be conducted over the network.
"Poland and Eastern Europe as a whole is an important market for us," says Isabell de Wit, manager of European sales at Calastone. "We are witnessing an increasing demand for access into these markets. Today, only approximately 14 per cent of all cross-border flow is automated. We believe there is considerable opportunity to help the industry reap the benefits that automation can offer in terms of both cost and risk reduction, and also to widen the opportunities for international distribution for Polish firms."
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