Custody & Security Services
Currently, 75% of global custody transactions are controlled by four major banks, and the environment continues to evolve. Competition from Central State Depositories (CSDs) and commoditized core services have led to an over 50% decline in agent banks. Custodian banks are now striving to expand their value chain adding new services, different skillsets, and varied risk profiles.
With Standardization and Consolidation as key priorities, technology is pivotal to this transformation. What’s required is a complete revamp of the existing custody and security services portfolio, thus offering enriched services like reporting and valuation to offset declining margins.
At HCL, over 1,200 person years of experience in custody and security services make us acutely aware of the present landscape. A dedicated custody management practice helps address the requirements of security and custody services players through a platform-based model. Key capabilities include:
- Technology and operations support for handling real-time, high risk, complex security, and custody services
- Organic/inorganic methodologies powering a state-of-the-art custody suite for Tier 1, Tier 2, and Tier 3 requirements in emerging markets
- Knowledge repository and industry experience for managing back-office operations, corporate action events, and platform-based services on fund accounting and administration
- Process consultancy for corporate actions via technology and task reengineering
HCL believes in scripting a perfectly outlined roadmap for modernization:
- Transitioned the corporate trust application landscape from a fragmented approach to the .NET platform for a leading investment bank, based on service-oriented architecture (SOA)
- Managed complete back-office custody management systems for a global investment bank, across 22 regions for over 10 years