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Asset Transfer Manager: DISTRIBUTION SERVICES
Is your bank trust still struggling with a lack of an automated asset transfer process?
Do short turn-around requirements have your staff “jumping through hoops” to answer front office and client questions on status of transfer or provide information to counterparties in a timely manner during transfer?
The difficult and manual processes for internal notification of time-sensitive issues like ACAT eligibility, no fund agreement, and incompatible assets in the transfer often leads to delays and errors in transfer. These issues are exacerbated by a lack of transparency. Now you can achieve front office transparency during transfer and consistent back office execution are goals achieved leveraging Delta Data’s industry lauded Asset Transfer Manager.
“Ensuring that the right data is sent securely to the right counterparty is something that every bank trust is dealing with now.”
– Northern Trust
OUR SOLUTION
Delta Data’s Asset Transfer Manager (ATM) is an automated system that integrates with both the core bank trust accounting and DTCC utilities, like the ACAT system, for facilitating free receives and delivers. ATM also integrates with DTCC Cost Basis Reporting System (CBRS) to expedite the movement of cost basis information on asset transfers.
With ATM, users can set realistic expectations for transferring assets – turning a largely reactive process into a more proactive one. In addition, ATM decreases the likelihood of errors, reducing or eliminating delays or total derailment of the asset transfer process.
ATM INFRASTRUCTURE
- Allows internal communication with the front office on requests
- Facilitates communication and document storage with contra party
- Provides user interface that facilitates exception-based processing
- Accepts and delivers full and/or partial requests
- Integrates with asset reference data systems
- Facilitates integration with trust accounting systems
- Integrates with cost basis reporting systems
- Provides access to industry standardized reporting
KEY ATM FUNCTIONALITY
- Integration with a single asset master source, to include mutual funds as well as equities, to validate assets a user can hold (Pre ACAT)
- Integration with relationship management database to create qualification process for free receive and delivers
- Automated communication between contra parties for source documents required prior to ACAT initiation
- Automation of alerts for deliver requests, reject notifications, adjustments, and changes in status
- Automated review of asset lists in free receipts to alert for any
ineligible assets - Integration with asset reference system that identifies existing mutual fund accounts to use in registration
- Facilitates registration of mutual funds when no account exists
- Ability to auto-reject assets by type
- Allows notification of assets that cannot be delivered through ACATS process
- Workflow for free receipts process and workflow for free deliver process
- Ability to accept delivery request without prior qualification
- Automation of posting free receipts and deliveries to Trust
- Ability to review asset lists from deliverer prior to acceptance
- Ability to upload asset list, review and approve individual assets prior to initiating a delivery to contra-party
- Dashboard to review all free receipt and deliver activity which is in process to include exception based reporting and transaction aging features
- Allow for manager/administrator access of employee receive and deliver workflows
- Ability to separate and route receive and deliver requests between users
- Integration with trust systems to notify process completion
- Filters to allow users to only see work assigned to them
- Ability to create partial receive requests or partial transfer receive (PTR)
- Ability to create partial delivery requests or partial transfer deliver (PTD)
- Ability to initiate reclaims (RCL) though DTCC
- Ability to create a residual credit transaction (RCR)
- Create standardized reports already associated with DTCC ACATS process
- Automation of communication between contra parties during the ACATS process, specifically as it relates to changes in the asset listing initiated or requested by either party
With ATM, users can set realistic expectations for transferring assets — turning a largely reactive process into a more proactive one. In addition, ATM decreases the likelihood of errors, reducing or eliminating delays or total derailment of the asset transfer process.
Customers trust ATM for:
- ACATS
- Transfers
- Asset transfers
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