Brown Brothers Harriman (BBH) has announced an expansion of its account opening API connectivity to custodians, with SEB being the first to implement the solution.
BBH’s account opening API supports straight-through exchange of account opening requests and confirmations between distributors, banks, platforms, and custodians, helping shift onboarding from days to hours.
By bringing API driven account opening into the custodian ecosystem, BBH helps support cost effective, risk minimising processes, improved transparency, and fewer operational breaks.
The addition of SEB forms part of BBH’s strategy to expand transfer agent connectivity through APIs to custodians, complementing their existing connections with platforms.
Niklas Nyberg, head of Global Custody, SEB, notes: “Custodians are expected to deliver a faster, more transparent digital onboarding experience, but workflows can still depend on manual steps and back and forth confirmations.
“BBH’s account opening API helps streamline connectivity, reduce operational friction and improve turnaround times for our clients.”
Manuel Dienhart, transfer agency product executive and global head of transfer agency, BBH adds: “Extending our account opening API into the banking ecosystem is the next step in making account opening a standardised, API enabled utility for the funds industry, so firms can onboard at scale with greater transparency and control.”
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