NAB Asset Servicing connects to Calastone
NAB Asset Servicing has connected to the Calastone global transaction network to facilitate its interaction with fund managers.
The NAB division announced the link to Calastone this week with the head of registry services, Anthony Gale, saying it had allowed the straight-through processing of managed fund transactions which had previously been reliant on fax and manual data entry.
"Straight-through processing provides benefits to all market participants through the reduction of risk and improved accuracy and timeliness," he said.
"We certainly won't be sorry to see the end to the hundreds of faxes we receive on a daily basis."
Gale said Ausbil Dexia had been one of the first clients to connect to the network, and NAB Asset Servicing looked forward to getting all clients on board over the coming months.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
