TrustQuay 5Series provides a rich repository of information for client, entity, fund, investor and third party records. Pre-defined data fields for persons, joint persons, trust, company, fund, foundation, bank, third party (non-personal), third party (personal), asset, liability and policy entity types are supplied as standard. To tailor the system additional entity types, data fields, relationship types and other user configurable options are available.
Due diligence information can be captured and saved. Related documents can be attached to entity records, e.g. scanned images of passports, correspondence, etc.
Both prospects and live clients can be maintained including details of client contact, together with any follow up actions. When a prospect becomes a client the historical information is retained.
Client and Fund Relationship Diagrams
Client structures can be viewed via a relationship diagram which is dynamically created using data from the underlying database in real-time, either as at the current position or as at a date in the past. Various options are available to select diagram format, shapes and colours, and the entity and relationship types to be included. The client structure chart can be run to show the current position, or show the client structure as at a historical date.
Document and Minutes Production
TrustQuay 5Series produces documents and minutes on demand using configurable Microsoft Word templates. These documents are automatically saved to the relevant entity folder or into a document management system.
Client Risk Scoring
TrustQuay 5Series allows the configuration of bespoke own client risk scoring questionnaires, with each question having a user-defined ‘pick-list’ of answers, with an associated score if relevant. The questionnaire is configured within workflow to ensure that all questions are sent to and answered by the relevant administration personnel. Where 5Series can interrogate data and answer questions or update data automatically as part of this process it will.
Anti-money laundering (AML) and Know Your Customer (KYC) Compliance
TrustQuay 5Series provides comprehensive support to allow the capture and management of AML and KYC information, for example, client passports. Dates (e.g. a passport expiry date) can be set to automatically produce reminders for administration staff where required.
TrustQuay 5Series includes an interface which allows data files from sanctions list providers such as WorldCheck to be imported and then used to check against entity data held in 5Series. The interface can be configured to check exact matches or similar matches using a number of industry-standard fuzzy and phonetic logic algorithms.
The checking process can be configured to run either across the entire database or just a specific entity, for example a specific name check as part of a client set up process. Potential matches are displayed and functionality is provided to manage these, including the ability to add comments or indicate that a potential match has passed internal due diligence checks.