Hong Kong-based Futu Trustee Limited (Futu Trustee) has selected TrustQuay’s NavOne software as its trust administration platform and client portal.
Futu is a subsidiary of Futu Holdings Limited, offering a suite of trust set-up, trustee appointment and trust administration services to private and corporate clients.
TrustQuay’s NavOne software will provide Futu Trustee with a secure front-to-back office trust management platform for reporting and data, enabling Futu Trustee to provide its clients with a detailed audit trail to efficiently meet its know-your-customer and anti-money laundering obligations.
With NavOne, workflow processes and compliance tasks can be automated, resulting in
increased efficiencies, reduced costs and decreased regulatory risk, says TrustQuay.
Futu Trustee has also adopted TrustQuay Portal, which allows end-clients to have a unified view across all their structures, including personal and corporate entities and wealth trust assets.
Serving more than 360 customers and 26,000 users in over 30 jurisdictions, TrustQuay works with providers to help them consolidate data and systems onto a single digital platform.
Commenting on the mandate, Keith Hale, executive chairman of TrustQuay, says: “New
challengers, such as Futu Trustee, who fully embrace digitalisation, are consequently well placed to create a clearly differentiated proposition and win market share in the corporate services and trust market.”
Ben Lin, CEO of Futu, says: “We see a significant opportunity in the corporate services and trust administration market, both in Hong Kong and worldwide. Partnering with TrustQuay provides us with a world-class software platform for future growth and enables us to differentiate ourselves by offering the best possible digital proposition to clients.”
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