Curo Fund Services / Enterprise Africa

CURO FUND SERVICES

CURO FUND SERVICES

Future-Focussed Finance Digitisation PRODUCTION: Timothy Reeder

For more than a decade, Curo has been finessing the investment administration processes that underpin and facilitate investment house offerings. Now South Africa’s largest third-party administrator, Curo’s ethos of coupling technology with expertise is powering a drive towards digital and embracing cutting-edge finance mechanisms.

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INDUSTRY FOCUS: FINANCE

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A proudly South African, multifaceted and fine-tuned solution provider, at its core Curo sets out to provide administration services that cover the entire lifecycle of an investment. Two overarching ideas have guided Curo in its ascent to the top of this critical industry, as it makes plain. “We invest in great people with deep expertise, and secondly, we remain responsive to our customers’ dynamic needs.” Curo possesses a wide range of cost-effective, outsourced investment management solutions, with an integrated and scalable platform giving clients a crucial competitive edge.

“We have been in operation for more than a decade to become one of the largest providers in the South African market,” Curo asserts. “Our wellestablished track record is founded on the principles of specialised investment expertise and market-leading flexibility, alongside a comprehensive investment administration service covering life products, pension and retirement funds,

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medical aid funds, collective investment schemes and hedge funds.

“At the heart of Curo is our relentless drive to take care of, look after and effectively manage the investment administration of our clients.”

EXCELLENCE PAST AND PRESENT Curo has long been at odds with the desire on the part of many new entrants into the market to bundle fund administration services in along with their core offerings, and has resolutely maintained its singular focus in order to remain the obvious choice.

“We believe it’s hard for an organisation to be world-class with a diluted focus,” it explains. “Our resolve has strengthened to continue providing brilliant fund administration services at exceptional value, as we have done for all our valued clients.”

From its acquisition back in 2012 by the two financial services heavyweights of Sanlam and Old Mutual, Curo was swiftly set up as a fund administrator before experiencing a remarkable rise

// AT THE HEART OF CURO IS OUR RELENTLESS DRIVE TO TAKE CARE OF, LOOK AFTER AND EFFECTIVELY MANAGE THE INVESTMENT ADMINISTRATION OF OUR CLIENTS // to prominence in the South African space, eclipsing two trillion rand in assets under administration within its inaugural two years and holding more than 30% of the country’s top asset mangers as clients by 2015.

A culture of success that bleeds right through the organisation to this day, last year Curo once again achieved Top Employer status, confirming its place among the ranks of companies who have successfully negotiated the exacting global best practice certification process to achieve this accolade. The Top Employer Institute has certified nearly 2000 companies in 120 countries globally, and Curo now joins a select group of fewer than 100 South African businesses similarly certified.

“It is a satisfying achievement for Curo to be part of the global community of organisations to be certified as a ‘Top Employer’,” confirmed HR Executive Mandla Dlova, “as it affirms our strategic progress towards excellence in the conditions and opportunities created for our people. The Top Employer assessment and associated Certification forms part of our strategic Human Resource Management initiatives, designed to enhance our employee offering using distinctive insights aligned to the world’s best HR practices and developments.

“Such initiatives support our aim of remaining an employer of choice in our industry.”

Simple Solutions to Solve Complex Problems A single, global platform to help the world’s leading fund administrators, asset managers, insurance companies and pension funds achieve increased operational efficiency, whilst reducing risk.

Get in touch To learn more about Temenos Multifonds visit: temenos.com/fund-administration Contact us at info@temenos.com

INDUSTRY FOCUS: FINANCE

Phase one of Curo’s complete office revamp and overhaul, completed last April, plays a vital role in breathing new life into the space occupied by the business since 2005. More than this, it ensures that those staff of whom it is famed for taking such good care continue to enjoy the very utmost in professional surroundings and environment. The revamp project forms part of the broader business strategy of a hybrid office model, with the first phase entailing the creation of a new reception and guest waiting area, boardroom, meeting rooms and a project room.

“We have done well to progress through the Covid-19 lockdown and, in some areas, have made use of the time to capitalise on the period by

fast-tracking future-forward aspects of our business,” outlined Darren Botha, Business Development Executive, with the move to a hybrid office model a crowning glory amid numerous such initiatives. “Through this revamp, the model has been extended into our office space to re-orientate our physical workspace to align with our company vision, mission and values and, indeed, our future.”

EMBRACING DIGITAL LANDSCAPE Curo is as good as synonymous with technology, and its astute application.

“Coupled with expertise, it means that we are geared to support the fast-paced investment industry,” the company explains. South Africa has itself for a long time been at the forefront of

// WE ARE IN THE PROCESS OF OVERHAULING PROCESSES, REMOVING UNNECESSARY HUMAN INTERVENTION AND REDUCING RISK // 6 / www.enterprise-africa.net

digitisation and collaboration, and both have been integral parts of Curo’s strategy throughout its lifetime. “We are in the process of overhauling processes, removing unnecessary human intervention and reducing risk,” Botha reveals.

“Technology is an important aspect of our business so we are introducing high levels of automation, seamless processing and integration between front and back office.” The innovation, creativity and drive to create value abundantly evident at Curo was recognised last year at the Global Business Outlook awards as it brought home the coveted Best Use of Technology in Fund Administration prize. “Our mission is to enhance consumers’ financial dreams and goals,” summated Botha, “by providing our clients with reliable services through innovative means and domain expertise.”

These multitude factors converge to see new MD and CEO Lance Jacobs

CURO FUND SERVICES

// INTELLIGENT AUTOMATION IS CHANGING THE LANDSCAPE FOR MANY INVESTMENT INDUSTRY BUSINESSES // take up post at the perfect time to drive this mission, already having proven instrumental in improving service standards within Curo, and creating a formidable team, centrally focused on the customer and delivery.

As the executive responsible for all aspects of operations, client services and operational technology, furthermore, in close collaboration with colleagues Lance has been behind the concerted and ambitious push to digitise and modernise the Curo administration platform.

Market developments and the impact of COVID-19 have accelerated the digitalisation of currencies, markets and societies in general, and Curo is at arguably the zenith of its own digitalisation journey. Completing the

first phase migration of funds from its five legacy systems, banking software company Temenos announced last year that Curo Fund Services had gone live with Temenos Multifonds Global Accounting platform.

The move transformed Curo’s operating model, simplifying its architecture and enabling more automated exception-based processing to increase efficiencies, reduce costs and open up new opportunities for growth. “Two years ago, we started a partnership with international industry leader Temenos to move funds to a new accounting platform,” concludes Botha. “We are in the process of migrating more than 3000 funds from our legacy fund accounting platforms to a single

global accounting platform which we have branded the Atlas Platform.

“We view this technology platform not just through the traditional lens of efficiency and cost, but the future opportunities it can create by facilitating entry into new markets, new and innovative services and new business opportunities. The switch further helps to provide cost effectiveness and delivery of quality, best-in-class services for clients.

“It’s undeniable that the future is indeed digital,” Botha closes.

“While some form of technological intervention has always been around, more and more, intelligent automation is changing the landscape for many investment industry businesses.”

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April 2022

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