The Citco Group of Companies (“Citco”), a leading global services provider for the financial services industry, today announced the launch of CitcoConnect, a new digital solution that automates and simplifies the process of managing prospective investors, including an online utility for the placement of initial investments in alternative funds.
The solution features a flexible data room, dedicated to and managed by each Investment Manager, supporting capital raising and reporting as well as digitized initial subscription documentation functionality with embedded analytics.
CitcoConnect is a stand-alone solution that offers managers full control over which materials prospective investors have access to - including how they interact with such documents - through a secure and flexible data room. This data room can house fund offering materials, allows for profile creation and maintenance of each prospective investor, permits relationship tagging and estimated investment amount tracking. Unlike traditional methods of material sharing – for example, email or physical mail, CitcoConnect safeguards data while decreasing the time for investor prospecting and onboarding.
Greg Fenlon, Head of Alternative Investor Services at Citco stated, “Many investors are still operating in a paper-heavy world, filling in lengthy physical documents that have to be faxed, emailed or even mailed back to fund managers and administrators. CitcoConnect challenges the status quo and long-held industry norms, by digitizing much of this process and consequently streamlining and modernizing investors’ experiences of the alternatives space.
“CitcoConnect is a major enhancement to the investor experience and a radical step towards transforming dealing in alternative investment products, taking the industry to a new level of access and investment process facilitation.”
CitcoConnect was born out of a drive for an investor-friendly efficient and streamlined onboarding process for all market participants while paying heed to the importance of cybersecurity as well as the physical fraud threats that exist today. Following a philosophy dubbed “the Citco Way” – a commitment to investing in the right people and giving them the right tools – Citco will continue to drive the development of solutions centered on clients’ needs.
The CitcoConnect platform offers:
Capital Raising & Fund Reporting Data Room
Collaboration tool for Managers and Prospective Investors with one location to share materials relevant to the offering. Ability to securely upload supplemental subscription material (e.g. KYC documents) concurrently while submitting a subscription.
Digitized Subscription Forms
Access to customized and digitized fund subscription documents including all applicable representations, warranties and legal disclaimers available at the investment manager’s discretion.
A Subscription Wizard
A step-by-step walkthrough of the subscription process via a smart digital form that guides investors through each section, ensuring accuracy and a more user-friendly experience.
Investment Manager Control
Power to grant investor access to specific subscription forms and the ability to submit an initial investment form with multilayer authorization and e-signatures that ensure flexibility and security.