Oracle Financial claimed that with the new release, transfer agents and fund managers can: expand business with support for managing variants of hedge funds like Simple, Master/Feeder, Fund of Funds and Side pockets; define various equalization fee methods and supporting accrual and payment of equalization fees based on funds performance; enhance STP by enabling comprehensive coverage of ISO 20022 SWIFTNet 4.0 messages and 15022 messages.
The system offers a range of benefits for transfer agents and fund managers 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.
The new release simplifies management of shared services across a service-oriented architecture (SOA) through accelerated service configuration, integration, and deployment.
Oracle Flexcube Investor Servicing has been integrated on Oracle Business Intelligence Enterprise Edition Plus for providing comprehensive reporting on transfer agency operations. With this integration, the solution enhances multi lingual & user-friendly reporting capabilities by supporting report labels in different languages. In addition, the new release includes consolidations with Oracle Enterprise Service Bus that will help financial institutions integrate with external systems.
Bob Hollinger, partner at Barrington Partners, an analyst organization for financial services, said: The distribution of mutual funds is changing dramatically in many markets. Whereas in the past, the industry was largely influenced by manufacturers, today intermediaries, supermarkets and aggregators have secured increasingly strong positions in the distribution of funds to a variety of investors through multiple channels.
“Transfer agency technology is concurrently changing the operation of the business with key goals being efficient investor servicing, automation and integration.
Joseph John, executive vice president of Oracle Financial Services Software, said: Transfer Agents and Fund management companies today are constantly seeking innovative ways to sustain their market lead and respond rapidly to business challenges.
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Oracle Flexcube Investor Servicing 9.0 is a comprehensive transfer agency and fund distribution system that can help transfer agents and fund management companies address their business challenges and manage complex workflow procedures effectively.
“With enhanced distribution, support for hedge funds and compliance to Swift Net messaging standards for the industry, this release should help transfer agents deliver success in their business.
