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the adoption of self-service for relevant functions in securities
services.”
The second catalyst that Panjwani identifies is change in legacy
behaviour. “Given the lack of investment in the accessibility of
data, it has been easier to pick up the phone and get up-to-speed
information from your custodian rather than logging on to a
platform to get the info you need.” However, he says, given the
growing presence of self-service technology in our daily lives,
there is pent-up demand for clients that want access to their
settlement information, their trade status, and trade fails to be
simpler.
These two changes will most likely go hand-in-hand, Pan-
jwani suggests. As custodians continue to invest in making their
platforms accessible and easier to use, clients will become more
confident in servicing their own requirements.
Data as a service
There are two approaches that can be utilised for this self-ser-
vice model. The first is providing an access point that allows
clients to look for their own data that can help them carry
out further analytics. The second is for queries such as trade
matching, trade processing, and corporate actions. This is more
for enquiring about the status of the progress of the underlying
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servicing element, and asking for a data
download for a certain process.
BNY Mellon’s Todd believes there are
two main steps that can enable clients
"The reward of the investment in self-service
tools offers both clients and us the capacity,
and the ability to deploy resources on
strategic enhancements.”
PERVAIZ PANJWANI, EMEA HEAD OF CUSTODY AND FUND SERVICES, CITI
to access these data sets. "In many cases,
exposing the information the client would
get by calling in and making the availabil-
ity of that easier is step one. The second is
getting more proactive data, i.e. warnings,
are you proactively alerting the client? Or
give the option to the client to filter what
information they get,” he says.
Custodians are reacting positively to
this trend, and many have begun investing
Spring 2019
globalcustodian.com
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