S&P Global Market Intelligence (S&P GMI) has integrated automated solution into its securities finance platform designed to overcome the inefficiencies of the legacy, manual process, currently faced by borrowers and lenders when onboarding new lenders and accounts. The new tool, called “onboard accelerator” will automate the process, allowing for improved transparency and efficiency.
Kabin George, global head of Securities Finance Product Management at S&P GMI, said in a statement: “The legacy onboarding processes tends to rely on spreadsheets, emails, and phone calls with risks of human errors, miscommunication, and delays. The new automated onboarding solution will greatly enhance efficiencies and improve client experience by allowing users to exchange, view and update documents whilst monitoring the status of the process from initiation through to execution seamlessly.”
The tool offers several innovative features, including improved controls and standards and advanced portfolio assessment reports that identifies potential lending revenues and asset qualities in a portfolio. The Portfolio Assessment Report (PAR), a key feature, will allow front office and business management functions to evaluate portfolios and select accounts for prioritisation. The PAR is a unique interactive product offering which places S&P Global Market Intelligence’s Securities Finance data into an easily accessible format providing key information on a portfolio’s composition and potential value.
At a functional level the onboarding tool will enable users to specify documentation requirements, request additional data and raise questions all within the platform, submit to multiple brokers with the ability to mask any critical account information from specific front office functions and backfill historical accounts to acquire one single source copy of all accounts.