Australian financial instos show support for blockchain

The Australian financial services industry may have seen a shift in sentiment towards blockchain, with major financial institutions supporting BC Gateways’ new blockchain platform, The Gateway.

The platform, which is designed for the global industry to publish and distribute any type of structured data, conducted a pilot in Sydney late last year focused purely on distributing pricing data in the Australian wealth management industry, with IRESS, Aberdeen Standard Investments, Perpetual and Equity Trustees among the participants.

IRESS chief executive, Andrew Walsh, said it was keen to change the way financial data was delivered, and the multiple connectivity options to the BC Gateway would allow them and other participants to quickly implement solutions with minimal changes.

Related News:

“Through the use of the blockchain, we’re able to significantly improve the timeliness and quality of unit pricing and other fund data which over time we expect to reduce costs and increase efficiency,” he said.

Corporate Trustee Services’ head of global fund services, executive general manager, Harvey Kalman, said The Gateway was a significant breakthrough and looked forward to working with the industry to maximise the benefits.

The platform’s managing director, Gordon Little, said it was encouraging to see the industry’s appetite to work with an operational blockchain product, and, having progressed development to support tax and regulatory reporting, looked forward to launching the service.




Related Content

IRESS reports positive 2018

IRESS has reported strong positive results for the year to 31 December 2018, and, following the implementation of the new accounting standards, expect...Read more

Australian financial instos show support for blockchain

The Australian financial services industry may have seen a shift in sentiment towards blockchain, with major financial institutions supporting BC Gate...Read more

Practifi integrates with XPLAN

Following its partnership with TIQK in November last year, Practifi has now announced its integration with Iress’ XPLAN technology to help ease advi...Read more

Author

Comments

Add new comment