JTC Group – CRS Self Certify innovation
Prosperity 24.7 have recently helped JTC Group by working in partnership to deliver ‘Self Certify 24/7’ a product explicitly focussed on the Common Reporting Standard self-certification process.
This project has enabled JTC to both reduce the cost of compliance for a mandatory process yet significantly enhance their clients’ experience which historically, has been manual, paper based and perceived as a burden.
This digital enablement, gathering critical information in the most effective way was summed up by Robert Surcouf, Group Chief Enterprise Risk Officer at JTC Group:
“Our mission is to build partnerships with our clients that enable them to focus on their core business, whilst we manage risk, protect assets and spot opportunities, efficiently and cost-effectively. The innovation in customer service which Prosperity 24.7 initially demonstrated and then subsequently implemented with us, aligns to all the key objectives of our mission. The solution that Prosperity 24.7 have delivered puts our customers’ experience at the heart of our service, it helps them to efficiently provide mandatory information which we require to protect the integrity of our business and their data”.
JTC Group are a multi-jurisdictional, independent provider of institutional and private client services. Historically JTC, like many other Financial Services businesses relied on engaging with clients in person or, when it came to capturing mandatory information, via the use of paper forms or mandates.
Chris Clark of Prosperity 24.7 outlines how Self Certify 24/7 has changed this approach not only to benefit JTC but also to protect the reputation of International Financial Services jurisdictions:
“Our product Self Certify 24/7 drastically reduces the cost of compliance for our Financial Services customers whilst significantly reducing the time their clients take to submit common regulatory information. Previously the time to undertake a ‘batch’ process for our clients was elapsed ‘weeks’ whereas now the ‘complete’ process can be completed in minutes. For end clients a manual form filling process (on average a 14 page paper mandate / document) is now pre-populated with the relevant information (which our customers held on record) with only key attributes needing to be populated – demonstrating that the business does ‘Know Their Customer’ already.
Regarding the wider benefit, the Common Reporting Standard – CRS – is all about transparency and the automatic exchange of information. Self Certify 24/7 enables our clients to, more easily and effectively, demonstrate the integrity of International Financial Services whilst ensuring trust and security for the interaction between our clients’ and their customers upon a secure platform backed by a leading provider in Microsoft.
Working with JTC has been a superb experience, their diverse and International client base has helped us to verify our approach and has validated our assumptions regarding the feasibility of a product to genuinely transform the experience of our Clients’ customers to one which is secure yet simple and efficient to use on any device in a digitally enabled manner. It is great to see modern businesses transforming the way they work to everyone’s benefit.”
Solution – Intelligent Customer Engagement leveraging Digital channels – Self Certify 24/7
Benefits – Rapid enhancement to service, reduction in costs for compliance and significant time savings for end clients of Financial Services Institutions involved in CRS Self Certification
Technologies – Microsoft Dynamics CRM Online, Microsoft Azure and Cloud based Two Factor Authentication Technologies.
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Further information on JTC Group:
JTC are a multi-jurisdictional, independent provider of institutional and private client services. Established for over 25 years, we have significant global experience and over £47 billion (US$70 billion) assets under administration.
With a highly qualified and multilingual workforce of over 450 employees worldwide, we are able to provide a global service to our clients via our network of local offices in Argentina, Brazil, British Virgin Islands, Cayman Islands, Guernsey, Jersey, Luxembourg, Malta, Mauritius, New Zealand, South Africa, Switzerland and the UK, as well as USA representative offices in Miami and New York, and alliance offices in Hong Kong, Labuan, Malaysia and Singapore.
http://www.jtcgroup.com/about-us
