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Standard Bank Adopts TCS BaNCS Digital for its Investor Services

23 September 2019 Standard Bank
Charl Bruyns, Head Investor Services and Financial Institutions for Standard Bank Group

Charl Bruyns, Head Investor Services and Financial Institutions for Standard Bank Group

Digital and End User Reporting Solutions enable Standard Bank to enhance client reporting and stay at the forefront of innovation

With the increasing demand for investor services in the African capital markets, Standard Bank has been at the forefront of innovation across the continent in meeting this demand.

As part of its strategic focus on digital solutions, Standard Bank is working on digitizing its investor services operations to improve operational efficiencies and provide clients with enhanced reporting and analytics on their custody portfolio. Standard Bank is working with TCS BaNCS Digital and End User Reporting in this journey.

TCS BaNCS Digital will now assist Standard Bank in providing business data, trends and risk analysis alongside client reporting, resulting in improved servicing and broadening of its customer base.

Using the transaction data in the TCS BaNCS Global Securities Platform, Standard Bank can create intelligent, timely reports and analyses to configure operational, regulatory, customer reports, offered through rich dashboards on mobile apps in real-time.

TCS BaNCS Digital also offers transactional data, AUM wallets, cash and stock entitlement views, elections status, and that of historic, present and future corporate events. Standard Bank’s client management teams will have additional oversight of their business giving them the ability to predict and mitigate risks faster.

More than 16 large global custodian banks doing business in 15 African countries have had their MIS reports configured by Standard Bank using TCS BaNCS. These reports provide end clients with a view of their portfolio holdings, valuations, STP and failure analysis over a period of 12 months and across markets.

“This solution has enabled multi-market, multi-currency, straight-through settlements and corporate actions processing, helping us extend our presence to 15 sub-Saharan African markets, including South Africa,” said Charl Bruyns, Head Investor Services and Financial Institutions for Standard Bank Group. “TCS BaNCS Digital represents our foray into the adoption of mobile apps and intelligent solutions, providing a high level of visibility and efficiency to the processing steps within Custody workflows, reducing operational risks and automating manual processes.”

Standard Bank has been working with TCS BaNCS since 1998 on its custody and corporate actions product capability.

R Vivekanand, Co-Head for TCS Financial Solutions, said, “We believe that for firms to become agile, and create exponential value for their customers, they will have to proactively harness new technologies, and create innovative value propositions. The TCS BaNCS Digital and End User Reporting solutions have been designed to bring rich digital features and Enterprise Apps to a highly automated STP environment, which customers of Standard Bank will now leverage. Designed for the Digital First, Cloud First, Business 4.0™ world, the solution comes with cognitive tools that enable intelligent decision making and enhanced end customer experiences.”

Standard Bank has been actively involved in building Africa’s capital market infrastructure and capability by supporting the growth of domestic exchanges along with the settlements and payments systems that leverage Africa’s savings, pensions and insurance industries.

“Providing domestic and global institutional investors with targeted solutions that add value to their businesses and clients, highlights both our experience across the markets in which we operate and demonstrates our leadership in investor services,” said Mr Bruyns.

Quick Polls

QUESTION

How to give affordable and appropriate financial advice to the low income market segment. There is little room on a R50 pm policy for advisers to be remunerated for the time it would it would take to educate & fulfil admin function. What is the solution?

ANSWER

[a] Eliminate non-advice sales / telesales
[b] Implement industry standards for non-advice information
[c] Introduce an insurer-funded pro-bono advice network to low income earners
[d] Reinforce the Policyholder Protection Rules
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