OneVue has announced it has joined the Calastone network, which was developed to automate the process of fund transactions.
OneVue chief operating officer Lisa McCallum said that by joining Calastone’s network OneVue will be able to automate the messaging service of fund transactions which were previously communicated by fax.
“Traditionally, data was input by operators manually, so we’re pleased to offer automation to our clients who will benefit from improved efficiency, risk mitigation and cost,” Ms McCallum said.
“By using Calastone we can offer a fully integrated service that will boost our fund managers’ wholesale distribution capabilities,” she said.
Calastone Australia managing director Shannon Bernasconi said the Australian industry is experiencing a “fundamental shift” in the way business is being carried out by fund managers and investors.
“The growth of flows has been steady over the past 18 months, with inflows in September reaching 1,000 orders per day,” Ms Bernasconi said.
