SETL gears up for blockchain fund platform launch
Written by Anthony Strzalek
FinTech startup SETL and four French asset management firms have announced that Iznes, a pan-European fund record-keeping platform based on blockchain technology, will go live in early 2018.
The platform provides investors, asset management firms, distributors and wealth management advisers with easy and rapid access to fund units.
The platform enables firms to enter into new relationships with investors, manage KYC processes, handle subscription / redemption instructions, and settle transactions and record positions.
Iznes aims to reduce transaction costs, increases transparency, and optimise operational workflow. It will also enable new value-added services to be developed.
The initial version was delivered by SETL in July 2017 and validated by OFI AM, Groupama AM, La Financière de l’Échiquier, and Arkéa Investment Services.
Together, SETL and its partners are now working with other interested parties to develop an enriched version of the platform, with the intention of going into production in early 2018.
Pierre Davoust, CEO of SETL France, said: “Iznes is the result of the alignment between the strong demand from asset management firms to establish a simple, effective relationship with their investors and the cutting-edge technology developed by SETL.”