SETL, the UK-based financial blockchain specialist, today announced the launch of IZNES, the pan-European fund record-keeping platform based on blockchain technology, together with four asset management firms: OFI AM, Groupama AM, La Financière de l’Échiquier, and Arkéa Investment Services.
The platform enables firms to enter into new relationships with investors, manage KYC processes, handle subscription/redemption instructions, and settle transactions and record positions. Compatible with all distribution channels, IZNES relies on proprietary technology developed by SETL.
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According to Jean-Pierre Grimaud, CEO of OFI AM: “OFI Asset Management wanted to be actively involved in this market project, which offers asset management firms new distribution solutions in the interest of investors thanks to blockchain technology.”
Pierre Davoust, CEO of SETL France, added: “IZNES is the result of the alignment between the strong demand from asset management firms to establish a simple, effective relationship with their investors and the cutting-edge technology developed by SETL.
IZNES is a project that will revolutionise the fund industry in Europe and bring substantial benefits to asset management firms as well as investors and their intermediaries. I look forward to working with our partners to build this next-generation platform and invite all interested parties to join us.”
SETL and its partners are said to be working with other interested parties to develop an enriched version of the platform, with the intention of going into production in early 2018.