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Avanza saves time and resources by using Euroclear Sweden's fund service

Since last summer Avanza has been using Euroclear Sweden’s fund service. The service enables automated order processing in real time which makes fund administration quicker and more effective.

Didi Welander, manager for funds at Avanza, tells more about how they benefit from the service and gives her view on the future development of fund administration.

In what way has Euroclear’s fund service improved your processes?

“The service minimises the risk of both technical and human errors. It also increases transparency as well as provides a clear audit trail. By automating the process we save both time and resources”, says Didi Welander.

With almost 30 years in the funds business, Didi Welander sees clear parallels with the administrative development of other financial instruments, for example derivatives and foreign securities. Here the trend has developed from manual processing to an almost fully automated flow.

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How do you see the development of fund administration in the coming years?

“I'm convinced that fund administration will be completely automated within a foreseeable future. The challenge is to get all the players in the industry to agree and accept a common process.”

To further streamline the fund administration, Avanza works constantly to develop their processes and routines. The goal is to have a cost efficient management of funds, at a low risk. As the interest in funds continues to grow, the demand for effective solutions independent of volumes also increases.

But there is still a lot to do within this area, Didi Welander ads. Both within order management and transfers of funds between operators, as well as within payments and reconciliations.

The development at Avanza is consistent with the thoughts and views of fund management at Euroclear.

“When we developed our fund service, our vision was to have the same degree of automation for funds that we for example have for shares and bonds”, says Mattias Grahn, Product Manager at Euroclear Sweden. “We are therefore pleased that Avanza decided to go for our solution to reach a more efficient and secure fund order management.”

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