Allfunds, a leading B2B WealthTech platform serving the fund industry, has announced a new partnership with Industrial and Commercial Bank of China (Asia) Limited (ICBC Asia). According to the statement released, this agreement will enable ICBC (Asia) to leverage Allfunds’ advanced technological platform, aimed at streamlining investment fund transactions by reducing manual processes and minimizing administrative burdens and operational risks.
In the initial phase of collaboration, ICBC (Asia) will adopt Allfunds’ digital solutions, including a specialized API data platform designed for efficient integration and access to fund data and reports. Additionally, ICBC (Asia) will implement nextportfolio, a flagship advisory and portfolio management tool from Allfunds, which offers comprehensive multi-asset capabilities and personalized digital experiences.
David Pérez de Albéniz, Regional Director for Asia at Allfunds, expressed enthusiasm about the partnership, stating, “We are delighted to support ICBC (Asia) as they expand beyond their established leadership in Hong Kong. Our aim is to enhance our ecosystem and specialize in serving custodians across Asia and globally. I am confident that this agreement will enable ICBC (Asia) to strengthen its value proposition and achieve greater scalability and efficiency in client service.”
Xu Lei, Executive Deputy Director of ICBC Asia, emphasized the strategic significance of the agreement, noting, “We are pleased with our collaboration with Allfunds and foresee numerous opportunities for further cooperation. ICBC (Asia), as a key player within ICBC’s global custodian banking business, provides extensive global custody services spanning over 90 markets through intergroup organizations and ICBC’s sub-custodian network. Our support extends to a wide array of global investment products and cross-border businesses, including QDII, QFI, Bond Connect, CIBM, Hong Kong mutual funds, Cayman Islands funds, and various local and overseas investment vehicles.”
The partnership between Allfunds and ICBC (Asia) underscores a strategic alignment to enhance operational efficiency and client service capabilities within the fund industry across Asia and beyond.
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