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Investor Onboarding digitizes and streamlines collection
and creation of subscription, AML, KYC and tax documents for
end-to-end fund onboarding
IHS Markit has launched Investor Onboarding, the industry's
first fully hosted, digital onboarding platform enabling firms of
any size to automate, integrate and centralize onboarding and
ongoing compliance obligations, while simultaneously simplifying
and accelerating the onboarding experience for investors.
"As investor onboarding becomes more complex and
time-consuming, the need for greater efficiency has become urgent.
Firms that rely on manual processes can take months to collect and
validate the data required to collect subscription and tax
documentation and conduct due diligence around AML/KYC, FATCA and
CRS. This not only poses a serious inconvenience to the firm's
investors but also inflates processing costs," said Christina
McNamara, Platforms & Regulatory Compliance Director and Global
Commercial Due Diligence Lead, IHS Markit. "At the same time,
onboarding has been increasingly recognized as an important part of
the investor experience. In an increasingly competitive investing
landscape, many investment managers are focusing on onboarding as a
crucial first investor touchpoint and seeking to differentiate the
experience by digitizing and streamlining the process."
The solution offers:
Enhanced investor experience by enabling users input data once,
creating a golden source that populates multiple forms, including
subscription agreements and tax forms. Data can also be
pre-populated for existing investors, enabling subscribing to
additional funds to be a review and submit function.
Digitized investor data collection, validation and electronic
signatures, creating a wholistic and validated Investor
Profile.
A configurable workflow to align with a firm's back-office
operations, fund documentation requirements and investor
preferences.
APIs enabling sharing of investor data with any CRM, due
diligence and compliance monitoring software and approved third
parties.
Collection and storage of investor data in accordance with
security requirements and the Personal Data Protection Act
(PDPA).
Automated collection and validation of US IRS tax forms,
Automatic Exchange of Information (AEOI) and Common Reporting
Standard (CRS) tax residency forms and KYC reviews for both entity
and individual investor types.
Investor Onboarding is the latest onboarding solution from IHS
Markit, fully integrated with their Tax Solutions and KYC
businesses. In 2018, the company launched Onboarding Accelerator,
an automated, end-to-end onboarding solution for brokers,
custodians and corporates. Built within the Counterparty
Manager platform, it integrates entity data, document
collection, KYC and tax profile validation, regulatory protocols
and self-declarations, legal and credit agreements and operational
setup. The platform supports 12,000+ buy sides, 200,00+ entities,
and 200+ sell sides.
Posted 01 November 2021 by Christina McNamara, Director, Global Head of Due Diligence, IHS Markit
IHS Markit provides industry-leading data, software and technology platforms and managed services to tackle some of the most difficult challenges in financial markets. We help our customers better understand complicated markets, reduce risk, operate more efficiently and comply with financial regulation.
