BST Awards 2021: Best portfolio accounting 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 has 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 has invested in new accounting functionality for the UK and French insurance markets. It launched a software-as-a-service (SaaS)-based explainable artificial intelligence (AI) model for accounting teams to support net-asset value (NAV) calculations by identifying false positives faster and reducing the risk associated with black swan events. It introduced an integrated ETF basket management module allowing users to create unlimited fund portfolio, index or non-transparent portfolio composition files and custom baskets, and it expanded accounting key and time-zone aware data to create unlimited tax, regulatory and valuation views of accounting data for middle and back offices. 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 has been enhanced to provide estimated valuations for ETF basket positions subject to pending corporate actions.

WHAT’S TO COME

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

Enhancement of ETF basket management solutions to optimize in-kind basket creations and redemption transactions, as well as offering API-based integration with upstream client authorized participant applications.

WHY THEY WON

Temenos Multifonds services an unbelievable value in assets—more than $10 trillion held by 30,000 funds in 30 jurisdictions. To serve those jurisdictions, Temenos has expanded its time zone-aware accounting data to create “unlimited” tax, regulatory and valuation views for middle- and back-office users. The vendor also recently added a SaaS explainable AI model to better identify false positives in NAV calculations and reduce the risk of black swan events.