Trust & Fiduciary Companies
The business of Trust companies is changing rapidly, with the regulatory net tightening and banks increasingly hesitant to deal with legal entities with lower local substance.
Any question-marks over a client or their activities is likely to raise questions, or even possible account closures, with new banking relationships hard to come by.
This makes many tasks not just a regulatory necessity, but also needed for your own peace of mind to limit legal exposure: periodic client reviews, cross-border tax reporting, counter-party due diligence, documenting transactions conducted on behalf of clients.
All of it adds up to a sizeable burden. One which clients may be reluctant to accept in your billable hours when their perception may be that you are just “doing simple paperwork and bank transfers”.
How we can help
Compliance software that lets you spend more time advising your clients
Our Client Due Diligence Hub (CDD Hub) software provides a digital client compliance file that lets you manage client due diligence (KYC/AML), counterparty due diligence, transaction checklists/documentation and tax classifications in a single place for even the most complex legal structures.
|Benefits & Outcomes|
|Better client service & increased revenue||
|Reduced regulatory risk & cost||
For a list of the compliance tasks CDD Hub covers, click here
While our software offering works out-of-the-box and requires no customisation, we understand one-size does not always fit all. We are happy to assist with the following:
- Consultancy around digitalisation of existing manual processes.
- Systems integration of CDD Hub into other systems, such as CRM or other systems.
- Customisation according to internal processes & policies.