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Cryptocurrencies

BNP Paribas taps blockchain tech for next gen fund platform

Thursday 20 April 2017 | 10:04 AM CET

BNP Paribas has teamed up with AXA IM to create a next generation fund distribution platform using blockchain technology.

The BNP Paribas Fund Link aims to increase the efficiency of the fund distribution process using blockchain and smart contract technology. In addition, the link intends to speed up the onboarding process for fund buyers and asset managers through the use of shared information.

Advantages of this platform deployment include delays and reconciliation costs removal, as well as increase efficiency of the buying and selling of funds. The platform will also develop analytics tools to allow for data comparison prior to selecting a fund.

Therefore, the platform brings together various ways technology can improve the fund distribution process and is designed due to regulatory demands for higher levels of transparency around the fund sales process.

More: Link
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