Calastone automates manual processes for the managed fund and superannuation sectors.
Dimensional said the move towards automated processing follows the recent interim report of the Financial System Inquiry, which called for “greater focus on efficiency around the operation of superannuation in Australia”.
The investment firm believes Calastone’s transaction network service “one-to-many connectivity” is increasing domestic and international opportunities.
Dimensional also said straight-through processing will “have a significant impact on lowering costs” and reduce the risk of errors and delays.
Chief executive of Dimensional Australia Glenn Crane said Dimensional was “founded on the principle of delivering great investment outcomes for clients reliably and at low cost, so using Calastone was an easy decision for us to make”.
Calastone managing director Shannon Bernasconi said Calastone welcomes Dimensional Australia to the network and “looks forward to extending the partnership both in Australia and New Zealand”.
