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Nordic Asset Manager

2 mins
Posted on Sep 13 2023 by FundApps

Discover how a leading financial institution overcame the challenges of manual shareholding disclosure processes with the help of FundApps.

The business areas our client operates in include banking, asset and wealth management; they pride themselves on having a global presence supported by local expertise. Our client provides several services to personal and corporate customers, including asset and wealth management and are regarded as one of the largest financial institutions in their region. In striving for operational excellence they have selected FundApps as their service provider to automate their Shareholding Disclosure process.

The Challenge

The search for an external system started when the Head of Regulatory Reporting reviewed the firm’s shareholding disclosure process and realised how manual and laborious it was to ensure that the firm was disclosing on time and where required. In addition, the operational costs on the firm were surmounting as they were relying on support from local legal council in multiple jurisdictions to get an understanding of when and how to disclose.

The Solution

In their search for a better solution, the client considered different third party service providers and decided on FundApps because of our comprehensive rules package, intuitive User Interface, our reputation in the industry and our large community of compliance professionals.

Especially important was the Shareholding Disclosure demo provided to the compliance team. During this session both sides were able to get a better understanding of the services and how it covers the client’s specific needs.

One of the key areas of interest was the comprehensive rules package. FundApps partners with aosphere (an affiliate of Allen and Overy), legal and regulatory data provider, to create a global rule repository of over 400 disclosure of interest rules covering major shareholding, short-selling and takeover panel for over 100 jurisdictions.

Our in-house content team sources the latest regulatory information required to update and maintain our rules - reducing the need for our clients to source additional legal counsel in jurisdictions they are actively trading in to ensure compliance.

They were also excited by our ‘Rule Commentary’ functionality where our clients can engage in an open discussion with one another to discuss the many different regulatory nuances and complexities (strength in numbers!).

The combination of aosphere’s legal expertise, FundApps’ in-house knowledge and the client community gives the most comprehensive solution available in the industry. You’re covered on all angles.

The Result 

Our client is currently going through the implementation of the Platform working together with their dedicated FundApps Account Manager.

On completion, the client will no longer need to rely on local legal support, instead they will have an easy-to-use, cloud-based service monitoring their positions, with integrated workflows and customer notifications which are designed to help our client disclose on time, efficiently and without mistakes.