FA Architecture Overview

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MMC have proprietary software, written on the Microsoft Stack, utilising many of the features available as well as a number of APIs which reside in Microsoft Azure. NeXus, our core system, handles all our fund accounting, unit pricing, settlements, registry and KiwiSaver in a fully integrated environment to ensure maximum efficiency and integrity.

At a structural level our architecture looks like this:

  1. Multiple data input methods for clients to pass application data (e.g. flat files, API and PDF).
  2. Secure SFTP channel for delivering flat files.
  3. Cloud based services for writing and retrieving investor / investment data and kicking off appropriate workflows.
  4. Data warehouse for storing all investor / investment data. Updated daily.
  5. NeXus interface available for clients (read only view).
  6. NeXus data validation service.
  7. Secure folder used for the transfer and importing of flat files.
  8. BPM onboarding workflow engine.
  9. Main investor and investment system.

Data Structure

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Below is a diagram which illustrates the structure of beneficiaries, investments, portfolios and assets within NeXus.

  1. Guardian and trustees are beneficiaries with no direct links to an investment only to another beneficiary (e.g. parents of a minor).
  2. A guardian and trustee are connected through a relationship link in NeXus.
  3. There are two types of beneficiaries - individual (e.g. Mum or Dad) and entity (e.g. business or trust). A beneficiary can also have relationship links to other beneficiaries (e.g. parent of a minor).
  4. Beneficiaries can also be linked to the same investment (e.g. joint investment between a couple or multiple trustees to a trust)
  5. There can be multiple types of investments - KiwiSaver and unit trust (retail and wholesale)
  6. An investment can be connected to a single or multiple portfolios
  7. A portfolio (fund) is made up of a series of assets. Assets can be shared across multiple portfolios.

Onboarding & NeXus

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MMC’s onboarding architecture utilises a BPM workflow engine, built with K2, with connections to an onboarding API (located in Azure) and the core NeXus system. NeXus is our core system for all investor and investment data. It stores all accounting and unit pricing data for clients allowing for scalability of portfolio valuations and a centralised asset structure. The server houses its own database which replicates the structure of beneficiaries and investments that reside in NeXus. The database is used for the storing and the passing of data during the onboarding process until the process is completed and finally transferred into NeXus. To note, the BPM engine communicates with NeXus throughout the onboarding process, for example, to look up existing beneficiaries and then utilise existing NeXus data workflows to complete the onboarding process. The database retains an archived record for complete and incomplete applications, with each application storing an audit report of all automated and manual interactions.

The onboarding workflow provides:

  • Multiple data input methods
  • OCR and data scraping services
  • Realtime AML, address and data validation
  • Flexible client configuration
  • Automated and manual onboarding processes
  • Email alert workflows
  • Auditing processes

NeXus enables:

  • Application processing and confirmation
  • Integration with third parties such as Inland Revenue
  • Asset, portfolio and investment calculations
  • User management
  • Data export and reporting services
  • Dashboarding interfaces
  • Tax calculations

Methods of Input

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There are various methods of importing data into the BPM onboarding workflow as well as into NeXus. Below is a brief description of those methods.

API (recommended)

There are a number of APIs that can be utilised in both the onboarding and the ongoing management of investors and their investments.

Available APIs are:

  • Onboarding - REST API
  • NeXus - flat file import

The onboarding API is discussed in more detail within the API section.

Flat file

Flat files can be used for importing new investments and investors as well as adding transactions and performing static data updates. These files are uploaded through our custom formula engine rules mapping. We also produce standard reports in a variety of formats and schedule any jobs through our internal pipeline processing system.

Commonly accepted file formats are:

  • CSV
  • XML
  • Swift

Example files are available on request.