Processing managed fund application forms, verifying investors' identity, and completing AML and KYC requirements can be a thankless task.
Especially if the investor hasn't completed the form correctly, has ticked the wrong box (or not ticked the correct one) and failed to sign where required.
Not to mention that some investors' handwriting is not all that it might be, and the correct documents sometimes don't arrive with the application form. All too often, even with the most careful processes, far too many applications are not processed the first time around.
Delays cost time, and time is money. Investors get upset, and fund managers can't earn fees while application proceeds aren't invested in the market. Neither can their administrator.
Olivia123 uses a rules based process to ensure that investors only complete the sections and questions on the application form that are relevant for each individual fund - whatever the investor type. No more errors and omissions, saving processing time.
Olivia123 provides a customised, flexible, secure online system for processing managed fund application forms.
Once completed, the final application, with scanned copies of attachments, is saved to a secure server, ready for downloading in electronic format directly into your registry system.
Olivia123's Administrator dashboard provides a complete application processing solution, complete with audit trail, date and time stamp of all key actions, client notes, messaging.
Applications can be sorted by investor, fund, date and application status, with updated emails to investors as the application is processed.
Olivia123 includes a secure AML and KYC module to allow each investor's identity to be confirmed, with documents such as driving licences to be verified online in real time, and real time look up of ABN and ACN details. Scanned copies of additional documents can be uploaded and attached with the application form, or if required printed, signed and sent by post.
Olivia123 allows applications to be processed in a fraction of the time of a handwritten paper-based copy. ID verification details and sanction checks are included and completed application files can be exported to the registry system in a variety of formats, with no re-keying of data required.