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Basiz fund services launches digital investor onboarding platform

The platform enhances the value of the present service offerings while supporting the conventional ALM/KYC processes for fund managers (Photo: iStock)Premium
The platform enhances the value of the present service offerings while supporting the conventional ALM/KYC processes for fund managers (Photo: iStock)

The entire investor onboarding process is now streamlined and digitalized, and digital signature facilities have been included. By enabling fund managers to connect with products more quickly, the Platform will enhance customer relationships. Traditional onboarding had presented a number of challenges that now stand eliminated

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NEW DELHI: Basiz Fund Services, a global fund administrator and the first to operate in the GIFT City in Gujarat, has launched an investor onboarding platform. The platform enhances the value of the present service offerings while supporting the conventional ALM/KYC processes for fund managers. For the purpose of improving client retention and exceeding customer expectations, Basiz has been continuously innovating its software solutions. By enabling fund managers to engage with products more quickly by using less time and resources, the digital investor onboarding platform will enhance customer relationships.

CA Shabarish Sesh, Vice President of Operations and Business Development at Basiz Fund Services said, “The entire investor onboarding process is now streamlined and digitalized, and digital signature facilities have been included. By enabling fund managers to connect with products more quickly, the Platform will enhance customer relationships. Traditional onboarding had presented a number of challenges that now stand eliminated."

“Take a common case in point. A single internet portal or a form may be used by investors to submit information. The information may then need to be manually entered again by a fund manager or another staff member at the company or imported into a different system. The verification procedure then starts, typically involving KYC and anti-money laundering (AML) checks to validate investor data. Employees might need to follow up with the investor for extra information at each level of the verification process, which would result in a cumbersome timeframe, a delayed onboarding, and more manual work that would only raise the risk of error and non-compliance.

Now the digitization of this process will provide a frictionless experience and strengthen security. For us, this year has been about polishing our in-house software to deliver to our consumers. Kicking in the next quarter, our quarterly regulatory AIF reports in India will be in line with the amended reporting formats. We will keep working to achieve an improved mix between speed and effective checks and controls, with blockchain support driving the entire ecosystem. We are looking forward to even greater opportunities in the future and are keen on the feedback we shall receive," he added.

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