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Client story

Streamlining the onboarding of complex funds

Discover how a leading bank transformed its complicated fund onboarding process from an expensive burden to a significant business growth accelerator.

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Streamlining the onboarding of complex funds

Challenge

Accessing and streamlining data reconciliation

The bank's goal to expand its fund business was hindered by a complex onboarding process for new funds. This process demanded specialized skills and relied on in-house tools developed using Excel, with each new fund requiring a unique approach.

The bank needed a consistent, repeatable best practice to standardize the onboarding process. 

Pain points

The onboarding process necessitated reworking the previous administrator's data, relying heavily on Excel formulas, v-lookups, and mappings.

It required a high level of manual intervention which led to keying errors. The process depended on specialists and contractors for successful onboarding. High operation and maintenance costs were incurred with each process, representing a recurring sunk cost.

 

The onboarding process necessitated reworking previous administrator's data, relying heavily on Excel formulas, v-lookups, and mappings.

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It required a high level of manual intervention which led to keying errors.

Layer_2

The process depended on specialists and contractors for successful onboarding.

Layer_3

High operational and maintenance costs were incurred with each process, representing a recurring sunk cost.

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Pain points

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Layer_1

Onboarding funds required reworking the previous administrator’s data, relying on Excel formulas, v-lookups and mappings.

Layer_2

There were high levels of keying errors because of the amount of manual intervention.

Layer_3

A strong reliance on specialists and contractors to get them through the onboarding process.

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High cost to run and maintain each process, which was a sunk cost each time.

Solution

Revolutionizing data capture and reconciliation

With Xceptor, the bank can now onboard complex SICAVs and various other fund classes that were previously impossible due to the specialist nature of the work required.

Xceptor delivers onboarding automation for data preparation and reconciliation tasks, effectively eliminating the need for manual spreadsheet processes.

It also offers a framework to enforce a standard process for each new fund, enabling the bank to leverage economies of scale and accumulate expertise. 

Vector

Take control of all your inbound and outbound confirmations processes in a single workflow.

Vector2

Ingest data, produce documentation, escalate risks, and manage the indexing and return of confirmations in one standardised workflow across your entire business.

Vector3

Integrate all trade booking platforms, market utilities and resolution portals.

A market leader in confirmations processing, Xceptor is trusted by some of the largest global financial institutions.

Result

Increase efficiency with high level governance

Xceptor has cut the onboarding time by more than 50% by managing all the onboarding data processes. The bank can now increase the number and variety of funds it can onboard. 

Xceptor's data dashboards and reporting tools provide extensive oversight of processes and actionable insights. The bank has eliminated the need for specialist teams or external contractors for onboarding providing a further cost saving.

quote

Xceptor allows us to significantly reduce the time and risk inherent in the migration processes and take on more complex work. We can now focus on growing our business pipeline and take on additional funds.

Head of Securities Services Business Unit
Large Global Bank

Ready to transform your fund onboarding process?

Discover how Xceptor can streamline your fund onboarding, reduce costs, and accelerate your business growth, just like it did for this leading global bank. Don't let complex processes slow you down. Start your transformation journey with us today!  

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Ready to transform your fund onboarding process?