ING has signed up Sydney-based investment technology firm Pentafin to provide unit registry and other administrative services for its wholesale funds.
Under the agreement ING will use Pentafin’s OneVue administration platform to handle the unit registry, income distribution, client reporting and interfunding transactions duties of its wholesale funds. According to Steve Parkinson, ING Investment Management director of operations, the OneVue system was selected because it could handle the projected growth of the wholesale trust business and adapt easily to regulatory and market changes. “We chose Pentafin’s OneVue because the software was very user friendly and because we could see the system had been built by people with experience in the operational and administration areas of the industry,” Parkinson said in a statement. “;We plan to manufacture and launch new products for the institutional market on an ongoing basis.” Pentafin specialises in creating software for financial services businesses and includes Challenger amongst its clients.
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