Client Stories

Onboarding complex funds made simple

How HSBC turned its onboarding of complex funds from a costly overhead to a business growth opportunity.


Accessing and reconciling the right data

HSBC’s desire to grow its fund business was hampered by a complex onboarding process for new funds. This process required specialist skills and used internally developed tools based on Excel and was unique for each new fund. HSBC required a repeatable best practice that could be used to standardise the onboarding process.

  • Onboarding funds required reworking of the previous administrator’s data, relying on Excel formulas, v-lookups and mappings
  • High level of manual intervention, with the subsequent level of keying errors
  • Relied on specialists as well as contractors to get them through the onboard process
  • High cost to run and maintain each process, which was a sunk cost each time


Transforming data capture and reconciliation

Using Xceptor, HSBC can now onboard complex SICAV and multiple other fund classes that would not previously have been possible due to the specialist nature of work required.

  • Xceptor automates the data preparation and reconciliation requirements, removing the manual spreadsheet processes
  • Xceptor provides a framework to enforce a standard process for each new fund, allowing HSBC to reap economies of scale and build up expertise


50% time to onboard - Xceptor now handles all onboarding data processes and this has reduced the time to perform previously complex processes by more than 50%.

New business growth - HSBC has been able to expand the number and range of funds it can onboard.

Increased governance and oversight - Xceptor data dashboards and reporting tools provide much greater oversight of processes and actionable outcomes.

Reduction in costs - HSBC no longer needs to rely on specialist teams or external contractors to perform onboarding.

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

Head of HSBC Securities Services Business Unit, HSBC

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