On August 12, 2026, National Bank of Canada engaged wealthtech solutions provider Multifonds to enhance its fund and ETF administration capabilities. Luxembourg-headquartered Multifonds will replace the bank’s existing siloed systems with a centralized platform designed to support over 40,000 funds across more than 35 jurisdictions. This integration aims to reduce the bank’s operational fragmentation and accelerate processing capabilities. It also seeks to strengthen operational oversight throughout the entire fund administration lifecycle, from Net Asset Value (NAV) calculation and valuation to distribution. Looking ahead, the Multifonds platform is projected to decrease manual touchpoints in key valuation processes, improve exception monitoring, and ensure greater consistency across accounting records. Founded in Quebec in 1859, National Bank of Canada serves over 2.7 million clients with a range of retail and business banking solutions, including accounts, credit cards, loans, savings, and investments. The partnership with Multifonds aligns with the bank’s broader modernization strategy, which previously included a collaboration with risk fintech Sardine in May to bolster its digital security infrastructure. National Bank of Canada joins other financial institutions that utilize Multifonds’ solutions, including Citi, HSBC, and Standard Chartered.