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Peeking Behind the Curtain of Mutual Fund Corporate Actions – Part III

Peeking Behind the Curtain of Mutual Fund Corporate Actions – Part III

In part three of our series looking at the world of mutual fund changes and how they’re communicated, we look toward the future. To recap, funds and distributors have been frustrated with the fund event communication process since the beginning. The main issue is that manual processes, lack of standardization, and massive amounts of irrelevant data confuse both the funds and the distributors – and leads to errors, audit issues, and fines.

Note: If you haven’t had a chance to read Part I and Part II of our Peeking Behind the Curtain blog series discussing the current issues in counterparty communications, we encourage you to go back and read them before continuing with this post.

Portal-based systems kill the blast fax process

The future of counterparty communications lies in a portal-based system. Many of the problems that bog the industry down with regards to communications and the “blast fax” can be solved with such a system.

This sort of transition has already been seen in the greater business world. The rise of customer relationship management (CRM) tools may be the most appropriate and obvious example to draw parallels. Instead of keeping track of your customer interactions and billing changes on spreadsheets and in your email, a company like Salesforce comes in and provides a secure and easily-accessible place to create and maintain records, and automate tasks all while being connected to the greater enterprise system.

The mutual fund industry is primed for a similar type of disruptive innovation, which is where we come in.

A portal-based system for the mutual fund industry works in the same way. Fund companies can completely streamline the creation of fund changes and distributor communications such that it only requires a few clicks to clearly and efficiently communicate a corporate action event. Distributors on the other side of the interaction can see updates in real time and only act on changes when a certain set of requirements are set.

Delta Data’s FundBlast™: The Future Is Now

We are thrilled to officially roll out FundBlast™, the communication portal that is revolutionizing the way funds communicate with their counterparties. FundBlast™ drastically changes the way the fund, broker dealers and service providers communicate on a daily basis. See the details in our 2-minute video.

FundBlast™ walks users through a step-by-step process to define, create and communicate a fund event and the data points that are impacted, whether it’s a liquidation, merger, or name change. This combined with automated controls and workflow approvals means costly clarifying communication back and forth between the funds and the distributors will finally become a thing of the past.

We built FundBlast™ to be customizable and user-friendly so that the technology works to every firm’s unique needs while bringing standardized, auditable peace of mind to the fund event creation and communications process.

For more information, FAQs, and to request a demo, visit our FundBlast™ homepage.

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Scott Marcus

Scott is a Sr. Sales Director at Delta Data representing the buy-side suite or Oversight Solutions. Scott has been involved in the financial services industry since 2004. For the last 10 years he’s made a career managing complex enterprise SaaS sales cycles with a singular focus in FinTech. Connect with Scott on LinkedIn.

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