BST Awards 2021: Best integrated back-office platform—Temenos

OVERVIEW

Temenos Multifonds is a global platform that integrates all administrative support functions, designed to deliver improved control and oversight and enhance operational excellence.

Typical user-firms: Fund administrators, asset managers, insurance companies and pension funds.

Temenos formed partnerships with nine of the top 15 global fund administrators, supports over $10 trillion in assets and more than 30,000 funds globally, saw 22% revenue growth (2020), has more than 3,000 clients for all solutions and had 307 go-lives in 2020.

WHAT’S NEW

Temenos launched a new investor servicing app for distributors and retail investors, offering self- or assisted-onboarding capabilities, direct access to investments, and the ability to review portfolios over time. Also new is a software-as-a-service (SaaS)-based explainable artificial intelligence (AI) model that uses human language to explain how decisions are reached in order to identify underlying issues and improve operational processes. Temenos currently supports integrated collateral lifecycle and reporting functions that include collateral valuation for all collateral positions received and pledged, and offers a fund-of-funds OMS supporting liquidity management, trade execution and reconciliation with clearinghouses, depositaries and third-party transfer agents.

According to Temenos, its SaaS acceleration offers its clients up to 90% savings in TCO over legacy installations. It also entered into partnerships with Salesforce and DXC Technology; it enhanced its commitment to environmental, social and governance (ESG) investments; and it unveiled a new front-end, including new user dashboards to enhance the user experience and increase transparency across back-office operations, while its centralized corporate actions module was enhanced to provide estimated valuations for ETF basket positions subject to pending corporate actions.

WHAT’S TO COME

Continued investment and development of technology roadmap to offer cloud-native, cloud-agnostic and database-agnostic services to the firm’s entire client base.

Enhancements to its ETF basket management module supporting unlimited standard and custom baskets, as well as offering algorithms to minimize cash and optimize security allocations in portfolio composition files.

WHY THEY WON

The 2015 acquisition of Multifonds by Temenos is paying dividends as the unit has been innovative when it comes to the use of AI and managed services to help buy-side firms significantly cut their operating costs across the back office. The company has also been innovative when rolling out products related to ETFs and asset managers’ ESG trading needs.