May 26, 2020

Platform updates May 2020

Here are our latest platform updates - as of 26th May 2020.

If you would like more information about these platform enhancements please get in contact. We’re always happy to demonstrate the new or improved features.

Enhanced Electronic Identity Verification (Release Date: June 2020) 

Syndex has supported electronic identity verification (“eIV”) since 2015 to supplement the customer on-boarding and due diligence process. The Identity Verification Code of Practice requires that the Issuer, in order to rely on the eIV process entirely, must be able to link the customer to the claimed identity. A bio-metric process will be released in late May that will provide a mechanism to determine and confirm that a customer can or cannot be linked to the claimed identity. 

Multiple Bank Account per Account Holder (Release Date: June 2020) 

Many Issuers have requested functionality to provide the ability to include multiple bank accounts for Account Holders, thereby enabling them to nominate different bank accounts across Issues that they hold. This functionality will be available towards the end of May and will also include the ability to cater for the nomination of different bank accounts at the Unit level to facilitate the sharing of income between Account Holders who hold assets on a joint basis. 

Debt Management (Release Date: June 2020) 

The ability to manage the review of debt associated with an Issue is something that many of our commercial property Issuers do on a periodic basis. The new debt management facility allows for loans that have been reviewed to be superseded based on any changes to the characteristics of a loan. The net result is a complete set of records that detail the changes that loans have been subject to over their full life-cycle, providing key insights into the contributions that the debt has made to the associated Issue. 

Nominee Structures and Special Purpose Vehicles (Release Date: May 2020) 

There are many scenarios that require the use of nominee or SPV structures to hold assets that investors have acquired via an intermediated process or because the structure is necessary for tax structuring purposes. The first iteration of these structures on the platform were of the more elementary type and we have now completed a significant enhancement that offers more sophisticated options.  The enhancements include the seamless creation of the structures via the digital application process, a myriad of ‘look through’ options for reporting and communication purposes, and support for nested investment scenarios where more than one structure sits between the beneficial owner and the asset they hold. 

For demonstrations or more information on any of our platform specifics please get in contact with us.

Mike Jenkins

Mike Jenkins is the founder, COO and shareholder of Syndex. The views expressed above are purely his own.

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