Allfunds becomes DBS' fund platform provider
Allfunds, one of the world’s leading wealthtech providers, has been selected by DBS Bank as its B2B investment fund platform partner, becoming the provider of access to third-party mutual funds for its wealth and retail banking businesses. DBS has signed an agreement with Allfunds to utilise Allfunds’ proficient fund distribution capabilities.
By selecting Allfunds, DBS will be able to gain access to a broad range of investment funds and utilise the asset servicing services which Allfunds provides in Asia, and globally.
For Allfunds the cooperation with DBS, a leading bank in Asia, provides an opportunity to further expand and strengthen its position in the regional market, as well as enhance its comprehensive and integrated solutions for third party funds.
Juan Alcaraz, CEO of Allfunds commented, "Our team is very pleased to be working with DBS, a highly regarded and well-accoladed financial institution in Asia. We look forward to working closely with DBS as they utilise our wealth of experience to cultivate and enhance their investment funds services. We look forward to simultaneously striving towards our goal of expanding further in Asia and supporting DBS with their own growth ambitions in the region."
Marc Lansonneur, Head of Managed Solutions, Balance Sheet Products and Investment Governance at DBS Wealth said, "“We’re excited to be embarking on this partnership with Allfunds, which has since established its position as a leading funds platform. Allfunds presents a one-stop solution for our distribution needs – access to an extensive fund eco-system, leading technology proposition, and a full suite of servicing capabilities – which we seek to leverage to achieve greater convenience, efficiency and productivity moving forward."
David Perez de Albeniz, Regional Manager Asia at Allfunds, stated "We are delighted to be able to work with DBS towards our common goal of increasing mutual funds penetration in Asia. DBS, with its innovative digital offering to clients, together with Allfunds’ solutions in open architecture, represent a perfect combination which will help the asset management industry in Asia reach new boundaries"