PARTNERSHIP AIMED AT INTEGRATING BLOCKCHAIN
TECHNOLOGY INTO THE FINANCIAL SERVICES ECOSYSTEM
MADRID and LONDON and NASHVILLE, Tenn., June 15,
2022 /PRNewswire/ -- AllianceBernstein Holding L.P.
(NYSE: AB), a leading global asset management firm, and Allfunds
Blockchain, the arm of Allfunds (AMS: ALLFG) specialized in
blockchain technology, have announced a collaboration to adapt AB's
asset services activities to the blockchain ecosystem.
Allfunds Blockchain's dedicated funds technology offers the
possibility to transform operational processes in the fund industry
value chain and provide legacy platforms with efficiency, agility,
accuracy, and the increased safety blockchain technology delivers.
AB will connect its global operational activity with the Allfunds
platform to Allfunds Blockchain, where it will enjoy all the
benefits of the solution, as well as Allfunds' global scale and
growing offering. The collaboration will offer Allfunds Blockchain
solutions across AB's EU domiciled-global platform.
Ronit Walny, Head of
AllianceBernstein's Investment Innovation Center, added,
"Across multiple departments at AB and in partnership with
Equitable Holdings, we underwent a deep exploration of the value
that the blockchain technology unlocks. We anticipate that this
technology will be transformative to the asset management industry,
uncovering significant transactional efficiencies and enhanced
transparency as well as operational agility that makes investment
solutions available to a broader investor base. We are committed to
delivering solutions that our clients prefer today and in the
future Allfunds Blockchain brings extensive fund industry
experience and insightful and integrated solutions, and we look
forward to partnering with them in our journey to offer solutions
across our EU domiciled global-platform."
Karl Sprules, Global Head of
Technology and Operations at AllianceBernstein, added, "Our
interest in blockchain was born out of an internal, innovative
ideation workshop, hosted jointly between AB and Equitable Holdings
for employees. In 2021, more than 100 colleagues across both
organizations participated in the program, working to increase
firmwide knowledge of disruptive technologies and closely examine
how blockchain and cryptocurrency can be used in the financial
services industry. A year later, we are excited to announce this
integrative collaboration between AB and Allfunds Blockchain, which
we believe is an important step forward for the future of our firm
– and across the industry."
Rubén Nieto, Managing Director of Allfunds Blockchain,
said: "We are very excited to collaborate with one of the leading
global asset management firms and deliver our bespoke solutions to
such a renowned household name like AB. This emphasizes our clear
strategy to team up and help to understand the incredible benefits
of the technology and our value proposition to all the actors of
the fund industry. It is about the future of the industry vs. the
industry of the future."
AllianceBernstein is a leading global investment management firm
that offers high-quality research and diversified investment
services to institutional investors, individuals, and private
wealth clients in major world markets. As of May 31, 2022, AllianceBernstein had $687 billion in assets under management.
Additional information about AB may be found on our website,
Allfunds Blockchain is a standalone company within
the Allfunds Group. Allfunds Blockchain develops a revolutionary
technology with features that have not been available on the market
to date, which generate a unique environment of security, privacy
and data governance among financial institutions and enables new
capabilities for programming and automating processes through smart
Allfunds (AMS:ALLFG) is one of the
leading B2B WealthTech platforms for the funds industry, offering
fully integrated solutions for both Fund Houses and Distributors.
Allfunds, founded in 2000, has built and continues to evolve an
ecosystem that covers the entire fund distribution value chain and
investment cycle. It remains the sole fully integrated
one-stop-shop in the industry. As of 31.03.2022 its assets under administration were
of nearly €1.4 trillion.