UMB Fund Services Integrates Corastone DLT Network, Slashes Manual Reconciliation
UMBF•UMB Fund Services has connected to Corastone’s permissioned distributed ledger network, with StepStone as the first client, enabling straight-through processing for alternative investment transactions. Supported by Envision Financial Systems, the collaboration replaces manual document workflows with a shared data standard that streamlines subscriptions, reduces reconciliation breaks and enhances data accuracy.
1. Partnership Scope
UMB Fund Services has integrated with Corastone’s permissioned distributed ledger network, with StepStone as the first client; Envision Financial Systems supports investor recordkeeping to drive automation across transfer agency operations.
2. Operational Benefits
The collaboration replaces manual document-based workflows with a shared data standard, enabling straight-through processing for subscription and lifecycle operations, reducing manual reconciliation and improving data accuracy through real-time exchanges.
3. Market Momentum
Building on recent integrations by Franklin Templeton, Fidelity, Hamilton Lane and Future Standard, this deployment underscores rising institutional demand for scalable, blockchain-based infrastructure in alternative investment servicing.
