Oracle Flexcube 9.0 Investor Servicing Software is a process-enabled transfer agency and investor servicing solution that helps financial institutions manage the complete fund lifecycle and reduce operational costs through process automation across fund structures, intermediary hierarchies, and investors.
The new release provides a single, robust technology platform that will allow transfer agents and fund managers adapt to business challenges by:
- Defining variety of equalisation fee methods and supporting accrual and payment of equalisation fees based on funds performance.
- Expanding business with support for managing popular variants of hedge funds such as simple, master/feeder, fund of funds and side pockets.
- Enhancing straight-through processing (STP) by enabling comprehensive coverage of ISO 20022 SWIFTNet 4.0 messages and 15022 messages.
In an interview with gtnews, Senthil Kumar, vice president marketing, Oracle Financial Services Europe, Middle East and Africa (EMEA), said: “One of the key challenges for supporting hedge funds is the variety of equalisation fee methods. There are certain rules of equalisation that the fund structure adopts and implements, but when an alternate fund business wants to implement something new, the provider needs to hard code it in the system. This is quite an inflexible model because it is difficult to change the rules – every time a change is made, it must be tested before it is deployed, etc.
“The new release gives access to a plethora of combinations that a hedge fund manager needs in order that the transfer agency has what it requires, and gives hedge fund managers the flexibility to address this challenge in an innovative way because there is no need to write new code,” he added.
Flexcube 9.0 also offers a range of benefits for transfer agents and fund managers looking to leverage their wide channel and distribution networks by supporting complex retrocession and distribution commission models for upfront and trailer commission rules for intermediaries, including:
- Support across multiple geographies with multi-entity, multi product, multi-currency, multi-lingual and multi-time zone capabilities.
- Enablement of true cross-border transfer agency capabilities across markets supporting varied business models.
“Because of the way the industry is consolidating and transfer agency servicing requirements are changing, we based a lot of capabilities around cross-border business support which includes many things such as support for multiple languages,” said Kumar.
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