Workflow and Task Management

Historically organisations have had to rely on their staff to follow corporate policies and procedures and have had no system controls other than checklists (typically paper-based) in place with which to enforce these.

As the financial services regulatory environment continues to broaden it is becoming increasingly challenging for organisations providers to comply with such regulations as legacy technology does not provide a solution.

TrustQuay 5Series is a modern and flexible solution that includes comprehensive workflow tools that will allow a business to define its key administration policies and procedures within the software. In this way, the system allows management to ensure that activities follow their defined corporate policies and procedures with no deviation by staff, and this can then be demonstrated to regulators to prove compliance.

For example, the activities associated with a client on-boarding process, annual review process, dealing day or distribution process can be setup within the TrustQuay 5Series Software. When such a process is then started 5Series automatically sends workflow tasks to the relevant staff to complete or authorise in the sequence or process that management has determined must be followed.

Operational Control

  • The use of TrustQuay 5Series workflow allows organisations to mandate the tasks, and the order in which they are done, that its staff have to undertake as part of a process.
  • Management and staff have comprehensive search facilities to view completed, outstanding and future tasks and workflow processes.
  • A workflow task and the workflow task reminder are one and the same. A task is automatically marked as completed once it has been executed.
  • Processing logic can be configured into workflow processes to guide staff through the right set of tasks depending upon particular scenarios e.g. a high risk client may require more due diligence tasks to be completed.
  • Workflows steps are audited providing a solid foundation for supporting regulatory compliance.

Operational Efficiency

  • Workflow will automatically route tasks to the relevant staff when due.
  • Workflow can make decisions based on pre-determined criteria and automate the update of data within TrustQuay 5Series automatically.
  • Workflow can send email alerts for example, when tasks or workflow processes become overdue.
  • There is clear visibility of which workflow tasks are due or overdue.

We’re now TrustQuay

Microgen has merged with Touchstone Wealth Management to become TrustQuay, the world-leading software provider to Corporate Services, Trust, Wealth and Fund Administrators.

Visit our new website to learn more about the combined business.

Continue on this site for detailed product information on 5Series.

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