Credicorp Capital in Peru goes live with Temenos’ Multifonds
Credicorp Capital, the investment banking, asset management and capital markets advisory arm of Peru-headquartered Credicorp, has gone live with the Multifonds platform from Swiss core banking vendor Temenos.
Credicorp Capital goes live with Temenos’ Multifonds
The investment firm has deployed the fund accounting and investor servicing solution, via Software-as-a-Service (SaaS), across 71 funds in an effort to “handle all back-office management of investors and funds across countries in one single instance”, Temenos says.
The solution supports both traditional and alternative funds through the combination of key asset servicing, position keeping, valuation and accounting functions for “all structures of pooled vehicles and funds, across multiple jurisdictions”.
This is in addition to continuous service updates and simplified digital channel integrations, which Temenos claims will benefit Credicorp Capital with a lower cost of total ownership, and the ability to “scale elastically” in accordance with market demand while increasing its focus on its core business activities.
Based in Lima, Credicorp Capital operates a regional platform that specialises in providing financial advisory services, with specific attention to corporate finance, asset and wealth management, capital markets and fiduciary businesses.
The firm currently maintains investment centres across Colombia, Chile, Panama, Peru, Mexico and the US, and claims assets under management (AUM) of $10.7 billion in fixed income, equities, real assets and balanced portfolios through its asset management business.
Credicorp Capital’s CTO, Axel Pozo Hammar, says the deployment of Temenos Multifonds “aligns with our regional vision and positions us strongly for future growth”, and will enable the firm to “remain agile and responsive to the changing needs of our business, while ensuring a strong focus on our core competencies in asset management”.
Another recent example of Multifonds’ industry impact is Alter Domus, a Luxembourg-based fund administrator, which partnered with Temenos in April to bolster its compliance with the European Commission’s European Long-Term Investment Fund (ELTIF 2.0) regulations.
