Onboarding and KYC
A client is usually onboarded on paper documents and by e-mail, and the application gets lost between desks. The solution runs onboarding in one queue: sanctions and PEP screening, suitability, agreements and account opening with an owner and a deadline. With the solution clients open faster, and documents are not lost on the way. In setup the status of every check and the reason for the decision are visible. The lists and screening rules come as reference data.
Client management
A client profile is usually assembled from e-mails and spreadsheets, and service agreements live in the memory of the staff. The solution keeps products, restrictions, documents and the communication history in one profile. With the solution the client relationship is visible as a whole, and context is not lost when a manager changes. In setup the history of decisions and tasks is visible, and products and restrictions are set in configuration.
Orders and execution
An order is usually taken over the phone, and it moves between the desk and the back office by hand. The solution runs the order through pre-trade checks, routing and allocation across accounts and strategies. With the solution orders execute faster, and partial fills are not lost on the way. In setup the journal of orders, checks and fills is visible, and the routing rules are configured per segment.
Cash and margin
Cash, margin and FX are usually reconciled in separate spreadsheets, and a limit breach surfaces after the trade. The solution runs accounts, deposits and withdrawals, margin lending and conversion under limits. With the solution margin use stays inside the limits, and limit breaches are investigated after the fact less often. In setup the collateral and the rates of every client are visible, and the limits and rates come from the setup.
Fees and statements
Fees are usually calculated by hand towards month end, and the client finds a mismatch in the statement. The solution accrues fees by client tariff and service and builds statements and tax documents from one ledger. With the solution invoicing runs without recalculations, and client questions are answered with figures from the books. In setup the tariffs and accruals on every trade are visible, and the plans and tariff rules are part of the configuration.
Corporate actions
Coupons, offers and votes are usually run on hand-maintained lists, and a client learns about an election too late. The solution brings mandatory and voluntary events to client accounts with elections and deadlines. With the solution client payouts and rights are not lost, and requests are answered along a ready trail. In setup the event calendar and the decisions on every account are visible, and the processing rules are set in configuration.
Reconciliation and close
The close is usually run in spreadsheets, and a depository break surfaces the next day. The solution reconciles trades and positions with venues, the depository and the bank and closes the day with control totals. With the solution divergences are visible on the trade day, and the next day does not start with an open break. In setup the reconciliation journal and the exceptions are visible, and the matching rules are set in configuration.
