The programme, called “Augmented Custody”, uses the bank’s extensive local presence, latest technology and streamlined data management to give clients better access to international markets and enable them to manage their investments more efficiently.
The programme is part of BNP Paribas Securities Services’ continuous efforts to improve client experience. It will be rolled out in phases and involves different aspects of the custody chain such as asset servicing (including tax, corporate actions and voting), settlement, cash and collateral management.
Patrick Colle, General Manager of BNP Paribas Securities Services, said: “Custodians have a huge role to play in helping their clients maximise the efficiency of their operations and keep their competitive edge. This is why we are making our custody processes better, faster and simpler. Our ambition is to enhance our core services thanks to the power of digital.”
As part of the programme’s phased approach, clients will benefit from:
- Faster corporate actions and income notifications for all events. Notifications will be released within six hours (for direct market access) and eight to 12 hours (for global access) of market announcements.
- Extended instruction deadlines on voluntary events. Clients will be able to send their corporate actions instructions up to five hours (for direct market access) and eight to 12 hours (for global access) before the market deadline.
- Enhanced data management platform thanks to harmonised corporate action, income and tax reports across all markets.
- Improved data access via the bank’s Data Navigation Analysis platform, which makes use of the latest data visualisation technology.
Some upgrades have already been delivered. Further enhancements will be made available progressively up until mid-2017.