Oracle on board for OneVue Asia Pac expansion

12-Dec-2014

By Julie May

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OneVue has formed a partnership with financial services software provider Oracle to extend its fund services offering to international investment managers and custodians.

The relationship was designed to support OneVue’s goal in taking its operations global, and would enable the business to support clients with a presence in the wider Asia Pacific region, OneVue chief executive Connie Mckeage told financialobserver.

“Our fund services clients who operate in Australia and the Asia Pacific have in the past had to use two different [administration and reporting] systems.

“Our partnership with Oracle, however, will see that they now have access to a system that will be multi-language, multi-currency and multi-jurisdictional, with a layer of consolidated reporting provided over the top of that.”

Mckeage revealed to financialobserver in early October that the group was looking to take its fund services operations global as a consequence of client demand.

“Our clients want us to look beyond the domestic market and take a more global view,” she said at the time, adding this was largely driven by clients that OneVue had “genuinely strategic partnerships with”.

Mckeage said yesterday that working with Oracle would significantly enhance OneVue’s capabilities as a fund services provider at a time when cross-border opportunities were growing.

“Our offering can provide a flexible, functionally rich product to help clients focus on their core objectives of product innovation and customer centricity,” she said.

Oracle vice-president and head of sales for Japan and the Asia Pacific Venky Srinivasan said investment managers, fund administrators and custodians wanted to reduce their costs, simplify their operations and manage risk and compliance effectively.

“OneVue’s industry expertise and servicing capabilities combined with Oracle FLEXCUBE’s product capability and global acceptance can help our mutual customers across the region drive growth across borders,” he said.

OneVue’s acquisition of outsourced unit registry provider Computershare just over a year ago led OneVue to establishing a Melbourne presence and picking up clients such as BNP Paribas and Centuria Capital among others.

Mckeage said OneVue had further grown its fund services business through the addition of responsible entity services, mFund connectivity and its support of Calastone.

Allan Gray was OneVue’s first client to access mFund connectivity in August, with AMP Capital launching connectivity via OneVue last week.

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