Curo Fund Services goes live on Temenos accounting platform
Curo Fund Services, South Africa’s largest insurance claims processor, has gone live with Temenos and its Multifonds Global Accounting platform.
The go live completes the first phase migration of funds from Curo Fund Services’ five legacy systems to a single platform from Temenos.
Curo expects to transition all 3,000 funds to the Temenos platform during 2021.
Temenos says the change simplifies Curo’s architecture and enables more automated exception-based processing.
The South African processor provides investment operations and fund accounting services to life companies, asset managers and multi-managers.
The firm services 3,000 funds with assets under administration of more than $150 billion. Its clients include compatriot asset management firms Sanlam and Old Mutual.
“With Temenos technology, we can more efficiently support our clients’ key asset servicing, position keeping, valuation and accounting functions,” says Bari Maggott, Curo CEO.
“We can also support their rapid pace of product evolution to bring timely, creative investment offerings to their markets. In the fast-paced investment industry this gives Curo and our clients a competitive edge.”