National Bank of Canada Taps Multifonds to Consolidate Fund, ETF Services

National Bank of Canada is partnering with Multifonds to bring its fund and exchange-traded fund services into a more unified operating framework. The move matters as asset managers and servicing banks seek to reduce fragmented workflows, improve processing efficiency and automate operations across increasingly complex investment products. Multifonds already works with major financial institutions including Citi, HSBC and Standard Bank.

The Canadian lender most recently announced that Multifonds would support the consolidation of its fund and ETF-related services, adding National Bank of Canada to the provider’s roster of large banking clients. The companies did not disclose a contract value, signing date, implementation schedule or the amount of fund and ETF assets covered by the agreement. The stated focus is operational integration, greater asset-management efficiency and increased automation.