AcomeA SGR Tests Blockchain for Fund Distribution

Asset management firm AcomeA SGR has announced the completion of the distribution of funds using Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology.

The Italian company has used Fundsquare’s blockchain infrastructure called FundsDLT along with Fabrick for API and banking support.

Developed with the collaboration of three firms - Fundsquare, InTech, and KPMG Luxembourg - FundsDLT is aimed at the asset managers to sell funds through a blockchain-based distribution channel.

Insieme a @fundsquare e @FabrickPlatform abbiamo completato il primo test per la sottoscrizione di quote di fondi comuni tramite la tecnologia Blockchain...https://t.co/WTuYjuma24#blockchain #ArtificialIntelligence #funds #fondi #investing

— AcomeA SGR (@AcomeAsgr) March 18, 2019

Commenting on the development, Giordano Martinelli, vice president and head of technology at AcomeA, said: “AcomeA SGR is proud to be among the pioneers in Italy in the use of blockchain for the asset management sector. The project is part of the series of activities that AcomeA has always carried out to simplify and make the world of asset management more accessible."

“The importance of the test lies not only in the technical aspects; the collaboration with Fundsquare and Fabrik demonstrates the value of cooperation in the Fintech sector; working together we are able to bring notable benefits not only to operators in the asset management sector but above all also to savers.”

Blockchain to Transform Fund Distribution

The firm detailed that the transaction was carried out through its Gimme5 service, which is used for direct distribution of funds to savers, real-time subscription, and redemption transactions of shares of investment funds and related Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term.

“The test concluded is a concrete example of the great value that can generate the union between knowledge of the processes and dynamics of the financial world, the skills on the most advanced technologies and the vision on new business and management models,” Giulio Rattone, Fabrick's head of product dev platform, added. “A meeting point that represents the very essence of the ecosystem that Fabrick feeds around itself.”

Last month, the asset management arm of Credit Suisse carried out a full end-to-end fund transaction with Portuguese financial institution Banco Best using the blockchain infrastructure of FundsDLT.

“European fund actors continue to move towards the future with ongoing innovation in the D2C space. The FundsDLT initiative aims to help investment fund companies improve their buyer journeys, reduce costs, increase efficiency and ultimately create value for investors,” Olivier Portenseigne, managing director of Fundsquare, added.