Our foundations are built on disruptive thinking and innovative technology… with decades worth of experience and understanding in financial services.
One of the first pieces of software we brought to market was the Socius Structured Product Administration Platform – a powerful cloud-based solution that provides a rich digital experience to both financial adviser and their retail client when purchasing a Structured Product. It removes the need for a paper-based application process and provides full life-cycle management to both adviser and retail client from pre-purchase through to product maturity and beyond.
Sounds simple enough, but for those of us in a regulated world transitioning an entirely off-line process to wholly digital isn’t always seamless, or affordable.
Who can use our Structured Product Administration Platform?
The platform, live since 2019, caters to the needs of three distinct sets of users:
- Product manufacturers / distributors: the licensed users of our platform who use it to help them administer their Structured Products business in an operationally efficient manner.
- Financial advisers: who use the platform to place orders on behalf of their client and monitor life-cycle events through the life of a product.
- Retail clients: who use the platform to monitor their product purchases, with their account login also serving as a repository for all of their platform generated documentation that can be readily downloaded.
The platform supports a variety of Structured Products, from regular equity-based notes and deposits through to fixed-term deposit based solutions.
What does it do?
The platform offers a rich set of functionality to different user groups including:
- A digital on-boarding process for regulated Adviser Firms, their Advisers and support personnel. This includes an Adviser Firm due diligence process that is tailored to the needs of each licensee’s compliance needs, workflow authorisation process and digital signing of the licensee’s Terms of Business.
- A client on-boarding process (including bulk upload of existing client data) with the ability for both Adviser and client to self-serve and maintain their data.
- A paperless product application process that caters for individuals (both advised and execution-only), joint accounts, corporate entities, trustees and pension schemes.
- Full life-cycle management with supporting electronic documentation that includes:
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- Acknowledgement letter upon successful completion of the digital application process.
- Strike letter to client and their adviser to inform them of a product’s starting index levels.
- Pre-maturity and maturity-based comms processes.
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- Integration with and processing of orders from external aggregating platforms and execution-only brokers.
- A facility for licensees to upload Continuing Professional Development (“CPD”) training videos and material for their adviser community.
Why use it?
For product manufacturers and distributors, the platform provides the means to remove significant operational inefficiencies and creates a robust framework to support their compliance and regulatory requirements all the while providing an enhanced client and adviser digital experience.
Beyond structured products…
This platform was originally built for structured products providers, but can be used across any financial product where digital onboarding of customers, robust audit trails and seamless customer experience are essential. If you’re fed-up with endless paper-based manual processes, give us a call to find out Socius Technologies can revolutionise your business.