SETL initiated the European Fund Accounting Block Chain Platform


nnAt the time of the runaway, SETL Development Ltd, a London-based chain settlement system development company, publishes the pan-European fund accounting platform IZNES, which enables companies to establish new relationships with investors, manage financial clients’ understanding of customer demand processes, Redemption, transaction settlement and asset management.n
nTranslation: Annie_Xun
London Landlock Settlement System Development Company SETL Development Ltd publishes the pan-European fund billing platform.n
The platform name is IZNES, which uses it to establish new relationships with investors, manage the Know Your Page process required by financial regulators, handle capital and redemption, transaction settlement and asset management. It represents the cooperation of SETL and four private property management companies: OFI AM, Groupama AM, La Financiere de l’Echiquier and Arkea Investment Services. These companies participated in the first edition of the platform in July and participated in the validation process for the technology.n
SETL France CEO Pierre Davoust said IZNES will “change the European fund industry, to the asset management companies and investors and their intermediaries to bring great benefits.”n
Davoust describes the development of IZNES as “the consistency of the strong demand between asset management companies”, that is, to build a simple and efficient investment relationship. He believes that the block chain is a cutting-edge technology that can embody this task.n
Using encryption distributed book technology or block chain technology, IZNES design reduces transaction costs, increased transparency, and optimized operational procedures. The way to achieve this is to allow each participating in the asset transaction and management of the organization to retain a copy of the record, after each transaction, check the other copies, to encrypt self-verification.n
IZNES relies on private licensed block chains, SETL developed by OpenCSD. OpenCSD is a financial services platform through which financial technology institutions can handle mutual funds, private equity, cross-border transactions and commercial invoices. SETL calls it a feature-rich system that takes into account all aspects of financial transactions, such as identity management, payment systems, secure communications, and high-capacity response networks that handle billions of transactions per day.n
The SETL was set up in 2015 to raise $ 39 million in July 2016. In December, it was financed by Deloitte Touche Tohmatsu Ltd, a financial risk management company and accounting firm.n
Deloitte and SETL began collaborating in November to build and test on the Deloitte block chain identity management platform and OpenCSD. The system is tested and validated by 100 Deloitte employees, using non-contact block chain cards for commercial transactions. In January, the finance company also worked with the Irish Funds Industry Association to develop a chain of chains for investment fund reporting.n
PricewaterhouseCoopers report shows that $ 14 in 2016 investment in nine months for the chain chain start-up companies. Business Insider Intelligence reported that most banks were exploring the block-chain technology to streamline processes and reduce costs, but only the most successful solution could solve specific problems.n
The SETL platform is a block-chain project category that uses block-chain technology to mitigate the problems associated with a large number of paper processes and difficult to authenticate communications. It competes with similar platforms, such as IBM’s block-based chain of Superbook Fabric, Vulcan Digital Asset Services of PricewaterhouseCoopers and Chain Inc., a chain-based chain of financial technology solutions provider.n

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