The world's first production Blockchain ecosystem for the asset management industry launched by FNZ
FNZ has partnered with a consortium of global fund managers including Aberdeen Standard, Equity Trustees Fund Services, Kames Capital, Legg Mason and Merian Global Investors to launch the world’s first production blockchain-powered market infrastructure for asset management.
The FNZ solution, ‘FNZ ChainClear’, leverages blockchain technology to replace the thousands of copies of transaction and holdings that plague the managed funds industry, with a single, secure, verifiable source of ‘the truth’, universally accessible by all parties. This vastly reduces cost, complexity and risk in back-office operations, that is ultimately borne by retail investors.
FNZ ChainClear uniquely creates the main legal register for the fund and all associated transactions directly into blockchain, making it simultaneously accessible to platforms, managers, transfer agents, fund accountants and custodians. It eliminates the effort of reconciliations, enables real-time “delivery vs payment” settlement of trades and real-time fund transfers.
We are working with a number of transfer agents, asset managers and platforms to ensure the benefits are shared by the whole industry.
FNZ ChainClear went into production in March 2019, initially with funds from Equity Trustees, Host Capital and Tutman distributed via the Aviva UK IFA and D2C platforms. After a month of flawless operation, FNZ is now working to extend FNZ ChainClear across a wide range of UK investment platforms and asset managers.
We are committed to lowering cost and risk, not just for FNZ, but for the entire industry.