The Australian division of BNP Paribas Securities Services has engaged Accenture to help implement its new business and systems integration program.
The program aims to streamline and enhance the securities services provider's master custody and fund administration services for the Australian market.
Custody operations typically provide a range of services to financial institutions, including holding assets in safekeeping, arranging settlement on purchases and sales of assets, collecting information on income from assets, and providing information and reporting about the underlying companies.
BNP Paribas Securities Services director of operations, Sue Jorgensen, said the program will support the company's client-centred approach to the financial industry.
The company established a presence in Australia after acquiring Cogent, a master custody and funds administration business.
Today, this business is an integral part of BNP Paribas Securities Services.
Accenture's financial services industry operatin group senior executive, Chris Barbour, said a high performing custody operation requires a steadfast focus on scalable technology and efficient business processes.
"BNP recognises this and we are pleased to support them with our ongoing effort to help bring high performance to Australia's capital markets industry," he added.
While BNP did not disclose the cost of the engagement, more details on the company's system integration program will follow.