Asset manager and funds services provider Global Merces has launched a new RegTech solution to automate the online processing of managed fund applications.
FUND.ID is a robust end-to-end investor application system available for investors and fund managers. The solution replaces paper application forms, wet signatures and a complex and complicated fund application system. It claims its Straight Through Processing capabilities are able to certify the identity of an investor and support the online completion of a fund application process in under five minutes.
Founder and CEO of Global Merces, Holly Grofski said: “Client processing systems are ripe for innovation. As a fund manager and administrator, we have a deep understanding of the friction point for onboarding investors into a fund. Innovating RegTech such as FUND.ID will help investors adopt an anywhere, anytime approach to building their wealth.”
FUND.ID provides a link to investors from a desktop or mobile location, certifying their identification online against government issued databases. A secure 4-digit PIN allows investors to sign documents in a banking-level encrypted environment. If the client fails to complete the application process they are contacted by our fund administration team to provide personal details to close any gaps.
The first external client to implement FUND.ID is CoVESTA, a fractional property investment platform where you can invest in any available property, in any asset type, anywhere in Australia. According to Global Merces the solution will deliver a highly efficient, cost effective and secure customer application process for CoVESTA’s Australian real estate investors. It allows CoVESTA to collect information on investors at various points in the investment journey and re-direct those administration activities to FUND.ID.
Daniel Noble, CEO at CoVESTA added: “We are committed to supporting the investment process for retail investors, our CoVESTORS. To educate and engage with investors we had to deliver the appropriate level and amount of information at all stages of their investment journey. Overloading them with a paper-based application process at the end of a very streamlined online platform was not what we wanted.”
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