BNP Paribas expands daily data service for UniSuper

BNP Paribas' Securities Services business has added new data functions to its Data PRISM360 platform for UniSuper, the first client to adopt the expanded service.

The Australian superannuation fund now receives daily investment exposure datasets across its full fund structure under a programme developed with BNP Paribas and NeoXam. The service builds on an earlier Data PRISM360 rollout and the delivery of monthly environmental, social and governance datasets.

UniSuper is one of Australia's largest profit-to-member superannuation funds, investing more than AUD $175 billion for more than 688,000 members. BNP Paribas' Securities Services business holds USD $17.5 trillion in assets under custody, while NeoXam provides financial data software to clients in multiple markets.

The latest expansion focuses on daily delivery of investment exposure data to support UniSuper's investment operating model. The datasets combine holdings across the fund with classification, reference and market data, then deliver them on a regular cycle for use in UniSuper's own systems.

This gives UniSuper's investment team a single view of fund holdings that can be aggregated and analysed across different attributes. The work is part of a wider data integration programme tied to BNP Paribas' servicing relationship with the fund.

Daily data

The arrangement also reflects a broader shift among large asset owners towards more frequent, standardised investment data, particularly where portfolios span multiple asset classes and structures. For pension and superannuation investors, timely exposure data can affect oversight, reporting and internal decision-making.

NeoXam's Investment Data Solution underpins the service used by UniSuper, while BNP Paribas manages day-to-day support and the platform's operational setup. The model is designed to feed data into UniSuper's environment in a format that can be used without manual reworking.

Dharmendra Dayabhai, Head of Portfolio Implementation and Liquidity Management at UniSuper, described the rollout as a key milestone in the fund's internal data programme.

"This marks an important milestone for UniSuper. We now receive daily datasets that are purpose-built to support our investments operating model, with a clear focus on reliable, high-quality data. The model we have adopted leans on the technological expertise of NeoXam, with the industrialisation of that platform and its day-to-day support provided by BNP Paribas' Securities Services business. We have now laid a strong foundation for our journey towards better data-led decision making," said Dharmendra Dayabhai, Head of Portfolio Implementation and Liquidity Management at UniSuper.

Three-way project

The implementation brings together a global custodian, a software provider and a large institutional investor in a project aimed at creating a more consistent investment record across a complex fund structure. Such projects have become more common as asset owners seek to reduce fragmented data flows between custodians, fund managers and internal teams.

Florent Fabre, Chief Executive Officer of NeoXam, said the UniSuper deployment showed how the platform was intended to be used.

"The go-live of these new capabilities shows what Data PRISM360 was built for and what we aspire to do for our clients. Together with BNP Paribas' Securities Services teams in Melbourne, Sydney and globally, we have delivered UniSuper an investment exposure book of record with an ESG overlay, where they can look through complex structures and aggregate exposures across multiple dimensions, at any point in the fund's investment hierarchy. Our role is to help clients turn data into investment decisions today, and to keep building as their needs evolve," said Fabre.

For BNP Paribas, the UniSuper mandate adds to its effort to expand beyond traditional custody and post-trade work into data, analytics and related services for institutional investors. Custodians have increasingly sought to offer clients more integrated reporting and data management tools as competition in core servicing remains intense.

Rémi Toucheboeuf, Head of Investment Analytics and Data Services at Securities Services, BNP Paribas, said the latest stage widened the platform's role in the relationship with UniSuper.

"The successful implementation of the investment exposure solution represents another significant step in our partnership with UniSuper. By extending the capabilities of Data PRISM360, UniSuper benefits from a more integrated and scalable investment data platform, enabling greater transparency and stronger data governance. We look forward to continuing our support of clients like UniSuper as they advance their strategic objectives," said Toucheboeuf.