Danish asset manager Nordea Investment Funds has selected Temonos Multifonds to provide the technology for its investor servicing activity in Luxembourg.
Nordea, the largest asset manager in the Nordics, will be replacing a number of in-house and on-premise systems with the Temenos platform.
In Luxembourg, Nordea administers more than €100 billion in assets. It will continue to perform this function for its own funds using Temenos Multifonds’ cloud-based platform and APIs.
According to Nordea’s head of fund administration Markku Kotisalo, the arrangement will enable the asset manager to “bring new services to market faster to enhance the client experience and scale efficiently to support increased volumes”.
The move was also hailed by Temenos Multifonds managing director Oded Weiss who said that Nordea shares “our belief in the power of open technology and the cloud to unlock innovation and drive growth”.