FundBank taps Profile Software for its custody solution
FundBank, formerly known as DMS Bank & Trust, has partnered with Profile Software to implement its custody solution and automate its operations.
Founded in 2012 and headquartered in the Cayman Islands, FundBank provides banking solutions for the global alternative asset management sector. It offers multi-asset and multi-currency global processing capabilities with a corporate actions reporting functionality.
It also provides clients with an online portal that comes equipped with order transmission capabilities and specialised cash management workflows for money market funds.
With Profile’s Axia Custody solution, FundBank will be able to manage and automate its custody and portfolio management operations, with clients being able to access their account positions directly, generate reports and send orders through an “intuitive” user interface.
According to Profile, one of the main advantages of its cloud-native Axia solution is the “flexible mechanism” of its integrated interface with core banking systems, enabling “easy and seamless” flow of data and optimisation of processes and communication with FundBank’s existing core.
“In the face of rapid technological advancements, Profile’s solution shall allow us to benefit from complete control over our custodian operations in a single platform with seamless integration to our systems and enable us to offer a competitive omni-channel experience to our clients,” says Adam Rossiter, chief operating officer (COO) at FundBank.
“As FundBank prepares to expand further into key global markets, with additional products and services, the addition of the Axia Custody solution will further enhance its ability to be well positioned to meet the complex and ever-changing needs of the funds industry.”