Menu

Search

  |   Digital Currency

Menu

  |   Digital Currency

Search

BNP Paribas, AXA join hands to build blockchain fund distribution platform

BNP Paribas Securities Services has joined hands with AXA and is building a blockchain-based fund distribution platform using smart contracts in order to facilitate the information flow between buyers and sellers, IBTimes reported.

The BNP Paribas Fund Link project will work on speeding up the onboarding process for both fund buyers and asset managers. This allows fund buyers using the Fund Link, to upload their profile and investor onboarding documents only once, which will be then shared with the various management companies on the platform.

“We are excited to work with BNP Paribas Securities Services on the development of this new platform. Operational efficiency is a key area for us in an increasingly competitive market environment where pressure on fees keeps rising. We believe that the new technologies (blockchain) used by this platform can significantly enhance our fund distribution process and ensure we are well placed to meet the continued regulatory demand for increased transparency,” Joseph Pinto, COO at AXA Investment Managers, stated as reported by IBTimes.

The Fund Link of BNP Paribas also focuses on improving the process of buying and selling funds through an efficient end-to-end trade execution solution that is relying on embedded business rules as well as shared information.

The project will be opened by BNP Paribas Securities Services to other clients in the near future. Also, the first functionality of the blockchain platform will be released from this year.

"There is so many new and exciting ways technology can enhance the fund distribution process. With this platform, we aim to bring many of them together to streamline fund distribution, create efficiencies and ultimately lower client costs," Jean Devambez, head of product and client solutions, Asset and Fund Services, at BNP Paribas Securities Services, said .

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

June 28 15:30 UTC Released

BRForeign Exchange Flows*

Actual

-5.279 bln

Forecast

Previous

-3.401 bln

June 28 14:30 UTC Released

BRBank Lending MM*

Actual

-0.2 %

Forecast

Previous

-0.2 %

June 28 19:00 UTC 200200m

ARBank Lending MM*

Actual

Forecast

1.9 %

Previous

0.8 %

June 28 21:00 UTC 320320m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

82 bln

June 28 23:50 UTC 490490m

JPForeign Bond Investment

Actual

Forecast

2.6 bln JPY

Previous

3.2 bln JPY

June 28 23:50 UTC 490490m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 490490m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-331.6 bln JPY

June 28 23:50 UTC 490490m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 490490m

DERetail Sales YY

Actual

Forecast

2.6 %

Previous

3.2 %

June 28 23:50 UTC 490490m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.