Calastone has announced that IOOF has signed up to its global funds transaction network of super and managed funds, utilising the service for its platform business.
According to a statement issued by Calastone, “60 per cent of the Australian market now use Calastone’s automated communication systems either directly or through their custodians” following the IOOF deal.
“IOOF represents another important plank of the automation process in Australia,” said Calastone managing director Australia Shannon Sweeney.
“In other markets, Calastone is the key utility for the industry, connecting funds and platforms so they can communicate efficiently without the need for paper-based processes,” she said.
“In Australia we’ve now passed the tipping point and we see the industry accelerating towards full automation.”
SUBSCRIBE TO THE IFA DAILY BULLETIN
21 Jul 2017ClearView adviser re-appointed to TPBBy Staff Reporter
21 Jul 2017ASIC may get phone-tapping powersBy Tim Stewart
20 Jul 2017Former FSC, Turnbull government staffer joins BTBy Staff Reporter
21 Jul 2017CPD should count, says overwhelming majorityBy Larissa Waterson
20 Jul 2017Centrepoint adviser cops permanent banBy Staff Reporter
20 Jul 2017Boutique takes stake in AMP practiceBy Staff Reporter
- view all