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The Covid-19 pandemic has boosted demand for digital client onboarding in the alternative asset management industry, in addition to continuing regulatory pressure.
Meredith Moss, Finomial
Meredith Moss, co-founder and chief executive of Finomial, told Market Media: “Covid-19 has been a watershed event in the industry. However the need for digital client onboarding is also driven by the regulatory push for anti-money laundering and addressing offshore tax evasion.”
For example, one of the last pieces of regulation of the previous US administration was the Corporate Transparency Act, which requires firms to disclose their beneficial owners.
Finomial was founded in 2014 to provide a cloud-based software-as-a service offering to automate investor servicing including client on-boarding, due diligence, such as anti-money laundering and know your customer checks, and global regulatory reporting for alternative asset managers. By using the cloud, Finomial gives the
Finomial and Mainstream Fund Services Partner to Transform the Investor and Fund Manager Experience tennesseedaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tennesseedaily.com Daily Mail and Mail on Sunday newspapers.
Finomial and Mainstream Fund Services Partner to Transform the Investor and Fund Manager Experience
Partnership Leverages Innovative Technology to Streamline the Investor Onboarding Process and Enhance Investor Data Security
BOSTON, MA / ACCESSWIRE / March 10, 2021 / Finomial, a leading Compliant Client Lifecycle Management ( CCLM ) platform, today announced its partnership with Mainstream Fund Services, a global provider of full-service fund administration and part of Mainstream Group Holdings Limited (ASX:MAI) ( Mainstream ). The partnership leverages cutting-edge technology to streamline the investor onboarding processes and enhance investor data security. Many of Mainstream s clients are already using Finomial for digital client onboarding.
The partnership is addressing an industry-wide problem of a labor-intensive and arduous onboarding process. Mainstream and Finomial s partnership streamlines the investor onboarding process by:
Finomial and Mainstream Fund Services Partner to Transform the Investor and Fund Manager Experience theusnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theusnews.com Daily Mail and Mail on Sunday newspapers.
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