Centuria required a highly secure, reliable, and scalable application to manage the investments in their funds.
We designed and developed both an internal and external-facing web application for this purpose. The external system provides a view of current and historical units and distributions, plus all relevant correspondence generated such as tax statements, annual investor statements, quarterly reports, and general fund financial statements. The new application saves Centuria staff a significant amount of time, and streamlines investor communications.
Benefits and features
Customer visibility over their portfolio performance
Centuria staff can now manage unit holdings more efficiently and effectively. They can add or redeem unit holdings and transfer units between investments. The application supports variable unit prices.
Streamlining business processes
Authorised users can generate quarterly, monthly, and special distributions for the funds. The system automatically calculates distribution amounts for the investments based on the weighted average percentage share of the fund for each investor. Investors can opt to reinvest the distribution, in which case their share will be added back to their unit holdings at the applicable unit price. This automated process now reduces the manual work that was previously required.
Tax and distribution statements are generated in the web application using SQL Reporting Services and are Centuria branded. Tax and Distribution statements take into consideration any foreign or withholding tax requirements.
Enhanced customer experience – staying up-to-date
Centuria staff can upload mass correspondence to investors of a fund or multiple funds. This allows staff to send correspondence to all the investors or advisors with just a few clicks while also providing notifications and a historical record.
Enhanced customer communication
The system automatically generates an ABA file in the format defined by the bank to transfer distributions to the investors.
Informed decision making
We have built various custom management reports to help Centuria Staff respond efficiently to investor and advisor queries.
This is available from the Centuria main marketing website so the investors and advisors can login and check their details, unit holdings, distributions and correspondence. A replication process has also been implemented to synchronise the data from the internal database to the external database.