We’ve been working with a global investments company to free up their valuable real estate and streamline their hedge fund applications, correspondence and payments.
As an organisation that provides wealth management, investment management, and a comprehensive range of investment services, they needed a partner that was capable of processing business-critical documents and payments quickly and accurately.
By working with us, they were confident that our FCA-compliant services for their clients were reliable, efficient and proven. We ensured that data from their highest priority and net worth clients was processed from as early as 6.01am to support highly competitive trading. A full set of transactional and consolidated reports were provided to give a high level of transparency and management information.
This major investment company's UK division wanted to deliver efficiency benefits to clients, reduce its real estate footprint, and boost its productivity in order to maintain healthy revenue growth despite a challenging market environment. It had a global strategic priority to execute on business improvement processes.
We partnered with them to provide efficient and reliable back-office processing services for their hedge fund clients including, an inbound mailroom, digitisation, fund application and payment processing services which were aligned with the organisation’s high-end transfer agency platform RUFUS.
Their physical and electronic mail is received at a secure location for security screening, conversion into electronic files, indexing and delivery directly into RUFUS. The management of multiple financial funds requires rules-based processing, strict service level agreements and full FCA compliance.
Critical post is collected at the mail depot at 5.30am, well before the working day begins. Encrypted file transfers can begin as early as 6.01am and continue every 60 seconds throughout the day as part of the organisation's work queues. Before delivering cheques directly to corresponding banks, payments are verified against a number of sources to ensure their validity.
As part of the service, we also look after key processes such as cherished document validation on behalf of the organisation’s clients. Passports, ID cards, birth and marriage certificates are received and validated. Copies are then sent on to the organisation’s workflow and the original documents are returned via post, all on a same day turnaround.
To ensure there was a smooth transition, several elements were tested and then piloted in isolation to ensure all workstreams were functioning correctly, before clients went live with the service in controlled phases. The whole process is fully auditable with daily, weekly and monthly Management Information (MI) reports providing consolidated finance reports and insight into volumes and values of applications and payments.
The Capita operation is ISO 9001, ISO 27001 and ISO 22301 certified.
Benefits of our service
- Streamlined processes - Reliable data and file transfer for critical valuation points throughout the day; earliest delivery occurs before the start of the working day to support competitive trading.
- Banking - Money is processed for banking early in the day to enable quick reconciliation.
- Improved productivity - By optimising the way information is processed, the organisation’s workforce are free to focus on their clients and core business objectives.
- Improved tracking - Automatic recording and indexing gives the organisation an instant audit trail.
- Fully auditable FCA-compliant service - All data provision is timely and accurate, ensuring continued compliance with FCA regulations.
- Continuity - Robust ISO 22301 certified business continuity systems and plan in place.
Key outcomes to our client
- Consolidation of valuable real-estate required as a mailroom, and redeployment of staff.
- Business-critical documents, including multi-million pound cheques, are handled quickly and securely, minimising transit time and speeding up delivery to banks and investment managers.
- Within three months of the original agreement ending, additional clients were onboarded, as a testament to the success of the partnership.