Citco’s Collaboration Platform is to be made available to a wider range of private markets clients as the company continues to digitalise and enhance client interactions.
As part of an update, the solution will now serve private credit funds as well as private equity to provide a “more unified user experience” across private markets. The updated Collaboration Platform will also be available to real assets funds.
The asset servicer has also added further functionality to the platform which allows its clients to carry out interactions with Citco through a single platform accessible via CitcoOne — Citco’s data technology platform for order placement, document management, reporting and capital activity monitoring.
The Collaboration Platform provides users with a single point of access to collaborate with the Citco team on a number of service interactions, including capital events and now period-end reporting for monthly and quarterly funds.
Available as part of Citco’s standard offering, the platform initially launched in 2021 to enhance processes around capital events for private equity funds.
Sam Metland, head of private equity product at Citco (UK), says: “Citco has always strived to be at the cutting edge of technological development in the asset servicing industry, and we are continually looking to enhance how we work with our clients.
“The Collaboration Platform is one of the tools we have created to do just that, helping to digitalise those interactions with us which cannot be fully automated, and increase transparency for all parties, and these latest enhancements move us further along in that journey.”
Jean Sweeney, senior product manager at Citco Fund Services (Ireland), who has been running client demos, says: “Feedback from our clients using the Collaboration Platform has been very positive.”
She adds: “Being able to move away from email and complete capital events through the platform has increased efficiency and streamlined the process. Clients are excited to be able to track all capital events in the platform and have transparency into the process. The platform has been praised for its intuitive and user-friendly design and we look forward to working with real assets clients as they are onboarded to the platform.”
