Multifonds selected by National Bank of Canada to Power Next Phase of Fund Accounting and ETF Administration
The platform will help National Bank respond to rising fund complexity and growing ETF demand with greater automation and control
MONTREAL, Aug. 11, 2026 /CNW/ -- Multifonds today announced that National Bank of Canada, one of Canada's six systemically important banks, has selected Multifonds to modernize its fund accounting operations and support the continued growth of its ETF business.
As one of Canada's six systemically important banks, National Bank has a significant presence in Canada's wealth management and institutional services market. Its fund and ETF administration business supports fund manufacturers across key operational functions, from fund accounting and transfer agency to basket creation, financial statements and tax support.
A Proven Platform for Canadian Market Growth
Following a detailed evaluation and proof-of-concept process, National Bank selected Multifonds for the depth of its fund accounting capabilities and proven experience supporting complex, multi-asset fund operations. Supporting more than 40,000 funds across 35+ jurisdictions, Multifonds brings the scale, flexibility and global expertise to address National Bank's Canadian market requirements and future product ambitions.
The move will help National Bank replace siloed systems with a centralized platform, creating a stronger foundation for operational resilience, faster product onboarding and more consistent service delivery.
From Fragmented Processes to Real-Time Control
By managing fund and ETF accounting in one environment, National Bank will be able to reduce operational fragmentation, accelerate processing and gain stronger oversight across the fund administration lifecycle.
Multifonds Global Accounting provides real-time processing, exception-driven workflows and more than 350 user-definable controls, helping teams with exception-based oversight across NAV, valuation and distribution cycles.
Building Capacity Across ETF NAV Operations
As ETF demand continues to grow, National Bank will be better positioned to scale its ETF NAV operations with greater control and responsiveness. Over time, the platform will reduce manual touchpoints across key valuation processes, enhance exception monitoring, and improve consistency across accounting records. It also enables more flexible and automated data exchange with external providers, improving the timeliness and quality of required downstream data, while seamlessly integrating inbound capital activity from external portals.
This will support faster processing cycles and optimize operational capacity as volumes increase, while maintaining strong oversight through structured workflows.
Quotes
Nancy Paquet, Executive Vice President – Wealth Management, National Bank of Canada, commented:
"This collaboration with Multifonds marks an important milestone in modernizing our technological capabilities. By adopting a platform designed to meet the increasing demands of the Canadian market, we are strengthening our operational efficiency and our ability to deliver innovative solutions to our clients. This initiative will support the growth of our fund and ETF administration activities while optimizing our internal processes."
Oded Weiss, CEO of Multifonds, commented:
"We are very proud to partner with National Bank of Canada in implementing a next generation fund accounting platform. The Canadian market is distinguished by the sophistication of its fund structures, particularly ETFs. With our flexible and scalable architecture, NBC will benefit from a solution capable of supporting today's complexity while adapting to tomorrow's requirements. This agreement demonstrates National Bank's commitment to investing in world class technology to support its expansion and that of its clients."
SOURCE Multifonds
MENG YUE, [email protected], + 65 96285067
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