The company is part of Credicorp Ltd., one of the largest financial groups in Latin America, whose subsidiaries include insurance, pension funds and microfinance providers in addition to BCP, Peru’s biggest bank.

Credicorp Capital provides a range of financial advisory services, especially in the areas of Wealth and Asset Management, Capital Markets and Fiduciary businesses. With investment centers in Colombia, Chile, Panama, Peru, Mexico and the US, Credicorp Capital’s asset management business has USD 10.7 billion AUM in fixed income, equities, real assets and balanced portfolios.

Migrating from its existing legacy systems, the company went live with 71 funds on Temenos Multifonds Global Accounting and Global Investor Servicing, enabling it to handle all back-office management of investors and funds across countries in one single instance of Multifonds.

The new platform allows Credicorp Capital to handle large transaction volumes with greater stability, as well as benefiting from improved flexibility and simpler integration with its digital channels. The agility, automation and reduced complexity of the Temenos Multifonds platform will also enable the investment firm to introduce new product lines and expand its service channels more quickly, helping it to remain competitive in a changing market.

Temenos Multifonds on SaaS allows Credicorp Capital to scale elastically according to the business demand, in a more cost-effective and sustainable way on a secure, continuously updated service. The breadth and depth of the Temenos service will help lower the Total Cost of Ownership as the upgrades of infrastructure are part of the service, Credicorp Capital can focus its resources on core business activities, while ensuring a robust and adaptable IT environment.

Axel Pozo Hammar, CTO, Credicorp Capital, commented: “We’re pleased to go live on Temenos Multifonds on SaaS, which aligns with our regional vision and positions us strongly for future growth. This strategic choice allows us to remain agile and responsive to the changing needs of our business, while ensuring a strong focus on our core competencies in asset management.”

Oded Weiss, Managing Director - Multifonds, Temenos, said: “We are delighted to see Credicorp Capital go live with Multifonds SaaS. As one of Latin America’s largest financial groups, they recognized the increased agility, efficiency and scalability of running their fund administration on Temenos Multifonds SaaS.”

On a single platform, Temenos Multifonds supports traditional and alternative funds and combines key asset servicing, position keeping, valuation and accounting functions for all structures of pooled vehicles and funds, across multiple jurisdictions.