Municipality Finance Plc, or MuniFin, provides municipalities in Finland with digital services that can speed up and automate the processes of public financing. Now, the financing management tool provided by MuniFin will be extended to support investment activities.
Municipal assets are seldom limited to listed securities, but often include physical assets such as land and real estate. With the expansion of the platform, municipalities can manage a wide range of assets in one system.
– It is important to follow the returns on investments to be able to plan the future investments. Additionally, many municipalities have outsourced their investments to asset managers, whose performance and cost levels may not be comparable, says Hannes Helenius, Chairman of the Board of FA Solutions.
MuniFin develops its services on a customer-oriented basis.
– This is a highly desirable addition to MuniFin’s services. Monitoring and reporting the overall picture of our financial position is easier when the liabilities and assets are manageable in one system. In addition, we can make the city’s financial management more transparent, which is particularly important for a public organisation, adds Kari Pentti, Financial Manager at City of Turku.
The expansion is implemented in cooperation with FA Solutions, a Nordic financial technology firm.
– We want to provide services in an ecosystem with our partners. Operations are efficient when each member of the network focuses on their core competencies, comments Jukka Leppänen, Manager, lending in MuniFin.
In Sweden, Kommuninvest has been providing similar services to Swedish municipalities and provinces since 2016.
Jukka Leppänen, Municipality Finance Plc
+358 50 5910 934
Hannes Helenius, FA Solutions
Partner, Chairman of the Board
+358 20 7118 514