UniSuper selects BNP Paribas for data solution managing AUD $149bn
BNP Paribas has announced a mandate from UniSuper to implement its Data PRISM360 post-trade data management solution, supported by NeoXam's technology.
The agreement will see BNP Paribas' Securities Services business deliver a comprehensive suite of data integration and management services to UniSuper, which manages AUD $149 billion on behalf of over 650,000 members across Australia.
Data integration
Data PRISM360, launched by BNP Paribas Securities Services in December 2024 in collaboration with NeoXam, is designed to provide clients with a unified and cross-asset class portfolio view by consolidating data from varied sources. Its features include robust data quality controls and self-service capabilities for interacting with processed data sets.
According to BNP Paribas, the new mandate will support UniSuper's decision making throughout the investment value chain. The Data PRISM360 offering for UniSuper will also incorporate climate impact analysis, particularly measurement of portfolio carbon emissions, as part of the overall service.
Dharmendra Dayabhai, Head of Portfolio Analysis and Implementation at UniSuper, highlighted the intended benefits of the partnership. "Through our partnership with BNP Paribas and NeoXam, UniSuper is building a solution to unify investment data into a single, trusted source of truth. The solution will provide high-quality, timely insights that support decision-making across the investment lifecycle. This will enable us to maintain a lean operational footprint while enhancing reporting accuracy and data governance, ultimately enabling faster and better-informed investment decisions."
Centralised data management
BNP Paribas' Securities Services stated that the Data PRISM360 solution addresses sector-wide challenges stemming from reliance on legacy data platforms. The bank's approach centres on capturing, normalising, and transforming data across sources, while ensuring the application of business-defined rules and controls to improve data quality and reliability.
NeoXam, which provides the Investment Data Solution at the heart of Data PRISM360, offers a modular and scalable suite of technologies used by financial institutions globally. The integration of NeoXam's platform with BNP Paribas' solution is aimed at giving clients such as UniSuper direct access to enriched books of record through application programming interfaces and other self-service options.
Florent Fabre, CEO of NeoXam, said: "We are delighted to be working with UniSuper, one of Australia's largest super funds, to enhance its post-trade investment data management capabilities. UniSuper's choice for Data PRISM360, directly after its launch, is a testament of the huge opportunity for the service. We look forward to working closely with UniSuper and BNP Paribas to deliver the next stage of UniSuper's data management journey."
The partnership and roll-out of Data PRISM360 follow ongoing industry trends towards better data governance, more transparent analytics, and a demand for more sophisticated sustainability measurement tools in investment management. BNP Paribas has highlighted the potential for Data PRISM360 to assist clients in responding to increasing regulatory and stakeholder expectations concerning ESG factors.
Strategic focus
Philippe Benoit, Head of Strategic Business Development and Transformation at BNP Paribas Securities Services, commented on the broader scope of the new mandate: "Data PRISM360's advanced analytics and ESG capabilities embody our continuing focus on innovation and sustainability. This mandate with UniSuper is a great example of how we support clients in the overall transition to a more data-centric operating model, and demonstrates our long-term commitment to the investment data management field. We look forward to partnering with UniSuper and supporting their growth plan."
The Data PRISM360 offering forms part of the broader Investment PRISM360 suite from BNP Paribas Securities Services. This range also includes Performance PRISM360 for investment outcome monitoring and Risk PRISM360 for regulatory and risk oversight, supplementing the core data management capabilities provided to clients.
UniSuper is one of Australia's significant institutional investors, providing superannuation products for staff in higher education, research, and, more recently, for all Australians, with over 650,000 members as of December 2024.
