National Bank Taps Multifonds for Fund Accounting Overhaul

National Bank of Canada is revamping its fund accounting and exchange-traded fund (ETF) administration systems by partnering with Multifonds. The bank, one of Canada's most important financial institutions outside the Big Five banks, will consolidate operations on a single platform using Multifonds Global Accounting.

The move aims to improve operational resilience, speed up product onboarding, and enhance oversight as fund structures become more complex and ETF volumes grow. National Bank supports fund manufacturers across functions including fund accounting, transfer agency, basket creation, financial statements, and tax support.

Multifonds Global Accounting will replace siloed systems, allowing the bank to handle complex, multi-asset operations with real-time processing, exception-driven workflows, and over 350 configurable controls. This platform supports more than 40,000 funds across over 35 jurisdictions, according to Multifonds.