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Fund application and payments processing for the financial services sector

Capita Intelligent Communications helped a global investments company to free up their valuable real estate and streamline their hedge fund applications, correspondence & payments.

 

 

As an organisation who provide wealth management and investment management & services, it was vital that they partnered with a team that were able to process business-critical documents and payments with both accuracy and speed.

In Capita, they could be confident that they had efficient, reliable and fully tested FCA-compliant services for their clients; with data from their highest priority and net worth clients processed from as early as 6.01am to support highly competitive trading.

With a global strategic priority to execute on business improvement process, this UK division of a major investments company was looking to deliver efficiency benefits to their clients, reduce their real estate footprint and boost their productivity; in order to maintain healthy revenue growth against a challenging market background.

Capita partnered with them to provide efficient and reliable back office processing services for their hedge fund clients including: an inbound mailroom, digitisation and fund application and payment processing service; aligned with the organisation’s high-end transfer agency platform RUFUS.

Physical and electronic mail is received at a secure location for: security screening, conversion into electronic files, indexing and delivery directly into RUFUS. Multiple financial funds are managed; demanding all processing is rules-driven, adheres to strict SLAs and is fully FCA compliant.

A 5.30am mail depot collection means that critical post is processed well before the start of the working day. Encrypted file transfers, in-line with the organisation’s work queues, can start from as early 6.01am and are made every 60 seconds thereafter throughout the day. Payments are verified against a number of sources to ensure their validity, before cheques are delivered directly to individual corresponding banks for fast clearing.

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.

Thanks to our partnership with Capita, we’ve streamlined our processes and are now able transact more quickly and effectively with our clients.

Benefits

The partnership delivered a range of benefits including:

Improved productivity: By optimising the way information is processed when it enters their organisation the company are free to focus on their clients and core business objectives

Savings: Consolidation of valuable real-estate, formally required as a mailroom, and redeployment of staff

Streamlined processes: Business-critical documents, including £multi-million cheques, handled quickly and securely; minimising the time they are in transit and speeding the time to banks or investment managers (up to 3 hours earlier)

Robust and reliable service: Following the transition of the clients within the original agreement, additional clients were on-boarded within the first 3 months

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