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With the $248 million acquisition of Multifonds, the core banking vendor makes a major move into fund administration, gains 38 A-List clients and scales a wider array of offerings.
Temenos Group, maker of the T24 core banking solution, is moving to aggressively take advantage of the “fast-growing fund administration market” via the $248.7 million (€235 million) acquisition of fund administration software vendor Multifonds, which has been in the market since 1995 and has more than 30 of “the world’s largest financial institutions” on its...
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