[ M A R K E T R E V I E W | A S I A ] of digitisation in streamlining this process . “ The key to streamlining this process lies in digitisation – not in the superficial sense , as one might see with retail clients , but in creating robust collaboration tools specifically designed for institutional onboarding ,” he says . In Asia , industry players are now developing platforms that allow preonboarding collaboration , enabling organisations to share files , manage project timelines , and track issues using integrated ticketing systems . This approach minimises miscommunication and creates a more efficient , auditable process , making onboarding smoother and less complicated for both parties .
Challenges and opportunities of integrating sub-custodians Integrating client-appointed subcustodians into a global custodian ’ s network presents both challenges and opportunities , particularly in APAC . Traditionally , global custodians have relied on strong relationships with local banks to provide comprehensive services .
This arrangement simplifies interactions for clients , allowing them to manage their investments globally through a single custodian . However , in Asia , where local asset ownership is significant , the global custodian ’ s is at more of a disadvantage . “ In cases where clients have a mix of local and international investments , they might find it easier to work with a local custodian for the domestic portion while leveraging its global network for international investments ,” Ramirez explains .
Fall 2024 globalcustodian . com 23