19 May 2016
Reporter: Stephanie Palmer
Clarient Entity Hub expands in Luxembourg
Schroders Investment Management in Luxembourg has adopted the Clarient Entity Hub utility-based service for simplifying client data and document management.

The solution is designed to reduce operational costs and risks involved the exchange of documents and data between hedge funds, corporations, broker-dealers and custodian banks.

According to Clarient, Schroders will use the solution to help with know-your-client (KYC) processes for intermediary and institutional investors.

With functionality to identify, collect and validate data required for meeting KYC requirements, the hub is intended to help firms establish and maintain client relationships, and the associated data and documentation, in one location.

"KYC has become more demanding over the past 10 years," said Noel Fessey, Schroders' global head of fund services. "Legislators and regulators demand higher standards of defence against money laundering, terrorist financing and tax evasion. Investors also demand better protection against operational and conduct-of-business risks in intermediary fund distribution networks.”

“The list of documents to be obtained from a prospective customer or counterparty is long, and ongoing review obligations means that they must be regularly checked and renewed if necessary. This is challenging for fund promoters, investors, intermediaries and counterparties, and repetitive for many of them.”

The Clarient Entity Hub now has more than 100 investment managers, corporations, broker-dealers and banks on board, including The Depository Trust & Clearing Corporation (DTCC) and the Clarient founder banks, Barclays, BNY Mellon, Credit Suisse, Goldman Sachs, JPMorgan Chase and State Street.

Matthew Stauffer, CEO of Clarient Global, said: “We are pleased to see continued adoption of the Clarient Entity Hub service across all market segments, as more and more firms are considering utilities for their client entity data management processes.”

He added: “As an industry-owned and governed organisation, we’ll continue to enhance the service to meet clients’ evolving data and documentation management needs.”

More data services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Quest for ‘warehouses of truth’
15 March 2017 | London | Reporter: Stephanie Palmer
Increased data quality is the main benefit of data warehousing for asset managers
Linedata in fixed income analytics partnership
13 March 2017 | London | Reporter: Stephanie Palmer
Linedata is extending its partnership with Morningstar to provide fixed income and credit derivatives analytics to its fund services clients
AxiomSL wins second Banco Sabadell mandate
13 March 2017 | Barcelona | Reporter: Stephanie Palmer
Spanish banking group Banco Sabadell has selected AxiomSL to provide automated regulatory reporting services for its Barcelona headquarters
KYC data causing chaos at ITAS
02 March 2017 | Luxembourg | Reporter: Stephanie Palmer
Know-your-client requirements pose a major challenge for clients opening accounts with transfer agents, and the only way to manage this challenge is through a common solution on which the industry cannot seem to agree
Eagle wins new business in Singapore
15 February 2017 | Singapore | Reporter: Stephanie Palmer
Singapore-based insurer NTUC Income has selected Eagle Investment Systems to provide data management, investment accounting and performance measurement systems
Equity Trustees get content management upgrade
27 January 2017 | Melbourne | Reporter: Barney Dixon
Donnelley Financial Solutions is partnering with Equity Trustees to implement its new document and content management system and workflow tool, FundSuiteArc...
Tradition to boost data reach through NEX Data
13 January 2017 | New York | Reporter: Drew Nicol
Global pricing data provider NEX Data is set to become a distributor of Tradition’s market data and information services division, TraditionDATA...
More data services news