Asset Servicer Account Management
A set of solutions for first streamlining custody account onboarding and maintenance, then leveraging that data for additional service provider account workflows.
Collaboratively setup and maintain service provider accounts leveraging a shared set of data and documents
Saphyre offers a set of rules-based workflows for Asset Servicing, beginning with Custody Account Setup and Maintenance. Then allows for maximum efficiency by leveraging the same data and documents for additional parallel account setup workflows for Middle Office Administrators, Fund Accountants, Tax Agents, Tax Reclaim Services, and Securities Financing Enablement.
Product Details
Custody Account Onboarding
Launch onboarding workflows for custody accounts. Track progress of market openings (by currency), as well as the completion of account details, FX standing instructions, reporting and routing instructions, and corporate actions
Prefilled Account and Maintenance Packs
Workflows are automatically prefilled with data and documents via templates and automated enrichment
Bulk Maintenance
Reduce redundancies by allowing cross-account updates, like adding or removing markets, currencies, or trade routing instructions
Middle Office Administrator Account Setup & Maintenance
Onboard accounts for middle office providers utilizing previously provided custody account details
Fund Accountant Account Setup and Maintenance
Onboard accounts for fund accounting service providers utilizing previously provided custody account details
Tax Agent Account Setup and Maintenance
Onboard accounts for tax service providers utilizing previously provided custody account details
Tax Reclaim Services Account Setup and Maintenance
Permission account access to tax reclaim service providers to expedite and maximize the recovery of excess withholding tax
Securities Financing Enablement
Create and/or review lending offers, accept where desired, and onboard associated accounts utilizing previously provided custody account details
All Saphyre solutions are built on our patented, AI-powered platform which includes:
- Data Normalization
- Automated Data Enrichment
- Cloud Document Management
- Strict Permissioning
- In-Context Messaging
- Standard & Custom Questionnaires
- Automated Task Lists
- Maker/Checker Verification
- Comprehensive Audit Log
- Reporting, Metrics, & Analytics
Problem Space
Manual work
and redundant activities result in errors, long onboarding times, high costs, and delayed revenue
Difficult to track
what documents have been received, where they are stored, and if they are up to date
Significant operational risk
from limited view and control of counterparty activities
Lack of visibility
to status across internal and external teams often holds up progress
Key Benefits
Increase efficiency
Static data and questionnaires are pre-filled, saving time and resources and enabling teams to start trading faster
Improve client service delivery
All-in-one solutions allows custodians to easily manage all beneficial owner entities and accounts. A better system allows custodians to handle more business with no increase in expenditure
Reduce Email Traffic by 75%
In-context messaging eliminates lengthy and time consuming back and forth emails
Reduce overhead and processing time
Buy sides can self-serve via a best-in-class user experience, and all the data is available to custodians via integrations/APIs
Transition new business quicker
Custodians can win additional revenue by offering a premiere service that eliminates heavy migration efforts, allowing effortless port overs to the buy side accounts from an incumbent, with minimal interruption to trade activities
Create a ‘One Asset Servicer’ experience
Asset servicers can offer buy sides custody services, then have a compelling value proposition to upsell additional services in a bundled offering (based on the substantial efficiency of reusing the same information)
Reduce risk
Reduction in data issues that can result in penalties and fees, simplified refresh process thanks to tracking of data and document expirations
