Multifonds Selected by National Bank of Canada to Support Growth and Scalability of its Fund and ETF Administration Business
The platform will help National Bank respond to rising fund complexity and growing ETF demand with greater automation and control
Montreal (Quebec), Aug 27, 2026 – Multifonds today announced that National Bank of Canada, one of Canada’s six systemically important banks, has selected Multifonds to further enhance its fund accounting capabilities and support the continued growth and scalability of its fund and ETF administration business.
As one of Canada’s six systemically important banks, National Bank has a significant presence in Canada’s wealth management and institutional services market. Its fund and ETF administration business supports fund manufacturers across key operational functions, from fund accounting and transfer agency to basket creation, financial statements and tax support.
A Proven Platform to support Future Growth
Following a detailed evaluation and proof-of-concept process, National Bank selected Multifonds for the depth of its fund accounting capabilities and proven experience supporting complex, multi-asset fund operations. Supporting more than 40,000 funds across 35+ jurisdictions, Multifonds brings the scale, flexibility and global expertise to support National Bank’s Canadian market requirements and future product ambitions.
The initiative will provide National Bank with a centralized operating platform designed to further strengthen operational resilience, support fast product onboarding and ensure service consistency across its fund administration activities.
Supporting Continued Growth in ETF Operations
As demand for ETFs continues to grow, National Bank will be well positioned to further scale its ETF NAV operations with greater agility, control and responsiveness.
Over time, the platform will introduce additional automation across key valuation processes, enhance exception monitoring and ensure consistency across accounting records. It also supports increasingly automated and seamless data exchange with external providers, improving the timeliness and quality of downstream data while integrating inbound capital activity from external portals.
These capabilities will support efficient processing as volumes increase while maintaining the strong controls and oversight that are fundamental to National Bank’s operating model.
“This collaboration with Multifonds marks an important milestone in the continued evolution of our fund administration platform. As our fund and ETF administration business continues to grow, this initiative will enhance scalability, strengthen operational efficiency and support our commitment to delivering high-quality services to clients and partners. The platform will help position us for future growth while maintaining the strong controls and capabilities that underpin our business.”
Nancy Paquet, Executive Vice President – Wealth Management, National Bank of Canada
“We are very proud to partner with National Bank of Canada in implementing a next generation fund accounting platform. The Canadian market is distinguished by the sophistication of its fund structures, particularly ETFs. With our flexible and scalable architecture, National Bank will benefit from a solution capable of supporting today’s complexity while adapting to tomorrow’s requirements. This agreement demonstrates National Bank’s commitment to investing in world class technology to support its expansion and that of its clients.”
Oded Weiss, CEO of Multifonds