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SETL & partners launch blockchain based record keeping platform

First Published 15th September 2017

SETL and four asset management firms have announced the launch of IZNES, the European fund record-keeping platform based on blockchain technology

Pierre Davoust, SETL

Pierre Davoust, SETL

The IZNES platform provides investors, asset management firms, distributors and wealth management advisers with access to fund units. It enables new relationships with investors, manage KYC processes, handle subscription / redemption instructions, and settle transactions and record positions.

IZNES relies on proprietary technology developed by SETL, with functional specifications defined in line with user input and contributions.

The initial version was delivered by SETL in July 2017 and validated by OFI AM, Groupama AM, La Financière de l'Échiquier, and Arkéa Investment Services.

SETL and its partners are now working with other interested parties to develop an improved version of the platform, with the intention of going into production in early 2018.

Pierre Davoust, CEO of SETL France, added: "IZNES is the result of the alignment between the strong demand from asset management firms to establish a simple, effective relationship with their investors and the cutting-edge technology developed by SETL."