The investor onboarding process has historically been a source of friction within the industry because the documentation and information required to open an account varies by investor location, investor type, constantly evolving anti-money laundering (AML) and Know Your Customer (KYC) regulations. This makes the process seem complex, cumbersome, and often frustrating for the investor, and potentially time consuming and challenging for the investor servicing team at the asset manager.
As part of our continued commitment to delivering the best investor experience in the industry, BBH Transfer Agency has been investing over the last ten years to make the investor onboarding process as fast, smooth, and efficient as possible, while achieving regulatory compliance.
“As the Transfer Agent we are acutely aware that we are the primary investor touch point for our clients’ funds, and any delays in opening accounts can not only adversely impact the investor experience, but also the client’s fund."
Manuel Dienhart, Managing Director and Global Head of BBH Transfer Agency
BBH launched its proprietary investor account opening and maintenance platform (IOBR) in 2018 – a workflow and AML/KYC policy engine which guides the BBH Transfer Agency team through account opening, account update and reassessment processes, ensuring that all required data and documentation are on the accounts and digitized. It significantly reduces the time taken to open an account through connectivity to the core register system and ensures a consistent process for all account openings. IOBR has provided both the stable technology foundation and the data required to build out innovative client facing digital capabilities as part of a multi-year development program, including:
Infuse® Transfer Agency - Launched in 2020, this online portal provides asset managers with a real-time window into the status of the account opening, account update and reassessment process as tracked in IOBR. It also offers an immediate look through to register data and the trading activity.
“Infuse Transfer Agency is a game changer for us with respect to streamlining the investor experience and managing day to day oversight.”
Investor Document Uploader (IDU) – This new tool, launched early in 2022, allows investors and asset managers to securely send documentation directly to the Transfer Agency team, providing a convenient alternative to sending documentation via fax or post where originals are not required.
“Having the right operational tools is a critical factor for ensuring our business is running well and we deliver a positive client/investor experience. The new IDU (investor document uploader) tool from BBH has helped our company to deliver a better client experience by giving our investors an additional way to place secure orders on a web-based platform even when working from home. This has become of particular importance during the COVID pandemic for those investors who had no access to the automated order routing system and would have had to rely on office fax transmission.”
Lucien Orlovius, CEO & COO of Distribution at BlueBay Funds Management
KYC Assist – Launched in 2022, KYC Assist simplifies and streamlines the account opening process. The asset manager’s sales and client service teams can model a new investor by providing only minimal data inputs to generate a list of the most probable document requirements, including the required format of those documents. This enables a fast and compliant investor account opening. In addition, the results of KYC Assist are easily distributable to prospective investors.
“Everyone has been in agreement that this is a great development and will make a real positive impact on the investor experience and journey.”
BBH Transfer Agency Client
BBH continues to invest in the investor onboarding process and in 2023 will add new online instructional tools, while continuing to enhance the overall investor experience through ongoing digitization efforts.
For more information, please contact your BBH representative or contact our Transfer Agency team.
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