Global fund transaction network Calastone has been implemented on Asgard, following the previous automation of BT Wrap and Panorama.
Calastone director for Australia Sarah Hayward said: “With all the biggest platforms now live on the network, most Australian end investors are now in a position to reap the benefits of increased accuracy and faster turnaround times.
“Fund managers benefit too, as we estimate now that over 70 per cent of trade instructions can now be automated through our transaction network, eliminating risk associated from manual processing from back-office procedures.”
Ms Hayward said the adoption of automated solutions has increased over the past three years.
“The efficiencies and savings that automation has brought to the Australian industry have really been very significant indeed and our long-standing relationships with firms like BT are a testament to that,” she said.
BT Financial Group now has automated statements for reconciliations, end of tax year, and distribution statements across the group.
The move follows the addition of managed funds to Panorama, which is set to provide clients access to a range of investment solutions.
