DST Global Solutions has seen a growing interest in its Bluedoor platform as the demand for more efficient administration systems has increased.
The platform, which was called Wealth.net before DST Global Solutions took over Bluedoor Technologies at the end of 2008, is the same system through which Axa Asia Pacific (Axa AP) distributes its North products.
"The transformational change that has been proved by utilising Bluedoor has resulted in a growing number of organisations engaging with DST Global Solutions to plan future implementations and license our software," DST Global Solutions Bluedoor executive director Martin Spedding said.
Bluedoor has already been used by a number of industry super funds, including Auscoal Super and LUCRF Super, and Spedding is said to also be targeting large financial institutions and platform providers.
He expects that Bluedoor's straight-through processing (STP) capabilities give it a leg up in the industry's heightened focus on efficiencies.
STP is designed to reduce the number of people involved in financial transactions by automating parts of the settlement process.
"The industry is on the cusp of a generational improvement in operational efficiency that will put the advisers and members in control and will eliminate significant administrative costs," Spedding said.
National Australia Bank (NAB) last week said it was looking for a buyer for Axa North in an attempt to reverse the Australian Competition and Consumer Commission's decision to oppose the merger of NAB and Axa AP.
Although Spedding said DST Global Solutions would continue to support the ongoing development and success of the North platform, he also pointed out that the company owned the underlying technology.
"The Bluedoor solution (previously known as Wealth.net) is owned and licensed by DST Global Solutions under strict commercial terms," Spedding said.
