Temenos and UMB Fund Services have agreed upon modernising Temenos’s Exchange Traded Funds (ETFs). According to the agreement, Temenos will provide UMB with the technology foundation for what the former calls “the most efficient and customizable ETF servicing platform on the market”.
The parties are excited and optimistic about the partnership.
The President of UMB, Maureen Quill, believes that the agreement will benefit UMB regarding meeting market requirements for future growth in ETF servicing. She says that:
“[t]hrough Temenos’ Multifonds platform, we can extend our industry-leading reputation for high-quality accounting and administration services, to include Exchange Traded Funds capability, with the integration points, processing controls, and comprehensive reporting options our existing and future clients expect”
The managing director of Temenos Multifonds, Oded Weiss, emphasises the contininuing growth of ETFs since the beginning of this year. Recognising the increasing attention from fund administrators, he adds that they “must have the operational technology in place to service Exchange Traded Funds quickly, efficiently, and accurately”. He finalises his words by saying that this is “exactly what UMB is doing by partnering with Temenos.”