IHS Markit launches platform for client onboarding

Rick Steves

In 2018, IHS Markit launched Onboarding Accelerator, an automated, end-to-end onboarding solution for brokers, custodians and corporates, supporting 12,000+ buy sides, 200,00+ entities, and 200+ sell sides.

KCG launches “Catch” to enhance client algorithmic trading

IHS Markit has launched Investor Onboarding to help firms automate, integrate and centralize onboarding and ongoing compliance obligations.

The fully hosted, digital onboarding platform simplifies and accelerates the onboarding experience for investors.

Christina McNamara, platforms and regulatory compliance director and global commercial due diligence lead, IHS Markit, said: “As investor onboarding becomes more complex and onerous, the need for increased efficiency has become urgent. Firms that rely on manual processes can take months to collect and validate the data required for subscription and tax documentation and conduct due diligence around AML / KYC, U.S. tax, FATCA and CRS. This not only poses a serious inconvenience to the firm’s investors but also inflates processing costs.

“At the same time, onboarding has been stressed as an important part of the investor experience. In an increasingly competitive investing landscape, many investment managers and fund admins are focusing on onboarding as a crucial investor touchpoint and seeking to differentiate the experience by digitizing and streamlining the process.”

Investor Onboarding is fully integrated with the Tax Solutions and KYC tools from IHS Markit, which are much valued within the trading industry. Coinbase has recently deployed the firm’s tax reporting tools to help users at the cryptocurrency exchange.

The solution offers:
• Enhanced investor experience by enabling users input data once, creating a golden source that populates multiple forms, including subscription agreements and tax forms. Data can also be pre-populated for existing investors, enabling subscribing to additional funds to be a review and submit function.
• Digitized investor data collection, validation and electronic signatures, creating a wholistic and validated Investor Profile.
• A configurable workflow to align with a firm’s back-office operations, fund documentation requirements and investor preferences.
• APIs enabling sharing of investor data with any CRM, due diligence and compliance monitoring software and approved third parties.
• Collection and storage of investor data in accordance with security requirements and the Personal Data Protection Act (PDPA).
• Automated collection and validation of U.S. IRS tax forms, Automatic Exchange of Information (AEOI) and Common Reporting Standard (CRS) tax residency forms and KYC reviews for both entity and individual investor types.

In 2018, IHS Markit launched Onboarding Accelerator, an automated, end-to-end onboarding solution for brokers, custodians and corporates, supporting 12,000+ buy sides, 200,00+ entities, and 200+ sell sides.

Onboarding Accelerator integrates entity data, document collection, KYC and tax profile validation, regulatory protocols and self-declarations, legal and credit agreements and operational setup.

Read this next

Institutional FX

Fortex adds GBE Prime to liquidity offering

“This collaboration enhances our liquidity distribution capabilities, offering our clients improved pricing, order execution, and risk management. We look forward to the positive impact this integration will have on our clients.”

Retail FX

Fullerton Markets Caps Off Stellar Year with Dual Triumph at Gazet International Awards 2023

Fullerton Markets, one of the fastest-growing brokerages in the Asia Pacific, has today announced its remarkable success at the prestigious Gazet International Awards 2023, where it secured two coveted accolades, reinforcing its position as a global leader in multi-asset brokerage and marketing a triumphant end to the year.

Inside View

Are brokers really ready for EMIR Refit and ESMA changes in 2024?

The EMIR Refit and ESMA reporting requirements necessitate a strategic approach from brokers, involving major updates to reporting systems, data collection processes, and internal resources. We spoke with brokers and RegTech providers to learn more about the upcoming regulatory challenges.

Digital Assets

Binance to phase out BUSD support in two weeks

Binance has announced its plans to gradually phase out support for its native stablecoin, BUSD (Binance USD) by December 15, 2023. This move comes after Paxos, the issuer of BUSD, decided to stop minting new tokens.


Binance Labs invests $3.15M in Open Campus to advance Web3 education

Binance Labs, the venture capital arm of the cryptocurrency giant Binance, has invested $3.15 million in Web3 education platform Open Campus.

Institutional FX

Brighty App unveils EU B2B payment platform amidst exploding market

Brighty App is set to launch its European B2B platform, Brighty Business, this month. This platform is geared towards improving how businesses handle their financial operations, especially in the digital banking and cryptocurrency domains.

Digital Assets

Celsius’ withdrawal process slowed by overwhelming demand

Bankrupt crypto lender Celsius is taking steps to allow certain customers to withdraw their funds. However, some users have reported difficulties in logging in to process their withdrawals, as indicated by posts on various social media platforms.

Digital Assets

Cristiano Ronaldo hit with $1 billion lawsuit over Binance NFTs

Cristiano Ronaldo, the renowned footballer, is facing a class-action lawsuit in the United States over his promotion of Binance, the world’s largest cryptocurrency exchange.

Digital Assets

Zipmex creditors offered 3.35 cents on the dollar payout

Zipmex, a Thai crypto exchange grappling with financial difficulties, has proposed a restructuring plan to repay its creditors.