Innovation is happening everywhere in the asset servicing space, but the best cases are those that result from an intimate grasp of the challenges facing fund managers and investors, and present a viable solution to overcome such issues. They showcase the congruence between purpose and outcome, ease and function, speed and reliability.
This year The Asset is highlighting two projects as Editors Triple Star epitomizing those qualities that make innovation a necessary and integral part of the evolution of financial services, and recognize them as part of The Asset Triple A Sustainable Investing Awards for Institutional Investors, ETFs, and Asset Servicing Providers 2023.
Editors Triple Star
Project DAMA, a collaboration between Deutsche Bank and Memento Blockchain, addresses the challenges associated with launching and accessing digital funds.
This project was also awarded the Monetary Authority of Singapore’s Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant on August 5 2022.
The FSTI POC grant provides funding support for experimentation, development, and dissemination of nascent innovative technologies in the financial services sector.
By providing a one-stop digital fund investment servicing platform, Project DAMA allows asset managers and their existing transfer agents, fund administrators, and custodians to plug-in-and-play and significantly reduce the effort and cost required to launch and administer digital funds.
Digital onboarding for private capital funds
Northern Trust’s agreement with financial software firm Fenergo focuses on client lifecycle management that aims to accelerate fund managers’ speed-to-market and drive efficiencies across the investor lifecycle.
The new mandate is part of Northern Trust’s digital innovation programme to support private capital fund managers and their underlying investors, focusing on client lifecycle management (CLM).
Leveraging Fenergo’s software-as-a-service (SaaS) CLM solution, Northern Trust will digitize and streamline onboarding journeys and due diligence processes for anti-money laundering, know-your-customer and associated compliance rules.
The digital portal provides a mechanism to securely source, capture and authenticate data. Investors will be able to access the portal to upload and review all their relevant information in a single source of record.
This will help to accelerate lifecycle processes by reducing the manual document flow while providing a more secure channel for sensitive data and enhancing the operational efficiency for the overall onboarding activity.
Please click here for the list of winners.