Standard Chartered taps FundsDLT for digital transfer agency services

By Delisha Fernandes

FundsDLT, a blockchain technology platform, has launched its digital transfer agency services with international banking group Standard Chartered.

The initial phase of this integration will be launched in the Middle East and North Africa, allowing the bank to enhance its service offerings for investment funds and asset managers.

This move is designed to address manual intensive transfer agency processes and the growth challenges of retail fund distribution. By leveraging FundsDLT’s regulated and secure cloud and blockchain-based transfer agency software, Standard Chartered aims to offer asset managers enhanced digital capabilities, allowing them to serve their clients efficiently and innovatively.

Ying Ying Tan, Global Head of Products – Financing & Securities Services at Standard Chartered, said, “With an unrivalled coverage across Asia, Africa and the Middle East for our fund services, we continuously look to deliver innovative solutions that can support asset managers and their clients in achieving both cost and processing efficiencies. Our collaboration with FundsDLT builds on this objective by transforming traditional transfer agency services into a model that offers streamlined and accelerated processes as well as reduced operational cost.”

Distributed Ledger Technology (DLT) is instrumental in augmenting linkages between players, enhancing transparency, and facilitating fund distribution and operations. The integration of FundsDLT is testament to the bank’s innovative approach to asset and securities services globally, by enhancing efficiencies within the fund distribution space and initiating with transfer agency services.

FundsDLT’s platform is recognised for its robust technical and secure infrastructure, which aligns with Standard Chartered’s objective and standards of delivering efficient solutions.

Olivier Portenseigne, CEO of FundsDLT, said, “This collaboration with Standard Chartered underscores a mutual commitment to driving digital innovation in the fund industry and is a pragmatic approach to streamline operations and enhance service delivery. We are confident that this integration will offer a more efficient and comprehensive solution for asset managers.”