OneVue has entered a partnership with a Hong Kong technology company, WealthCraft, to assist the expansion of its administration platform in Asia.

While the Asian markets do not have platforms in the Australian sense, the new alternative of a web-based system should allow a fund ‘supermarket’ environment of greater choice at reduced cost to the traditional bank or life insurance company offerings, according to OneVue.

According to Chris Sperber, head of client focus at OneVue, the partnership will capitalise on WealthCraft’s straight-through-processing gateway. OneVue will also support WealthCraft in Australia.

The partnership is for an initial five-year period.