Deutsche Bank is adopting a “modular” approach to its outsourcing services, which it says will be crucial to customers as the regulatory environment continues to evolve.
Its Asset Servicing Only offering means banks, broker dealers and asset managers can pick and choose particular Deutsche Bank Global Securities Services products that suit their needs.
Asset Servicing Only offers outsourcing for tax reclamations, corporate action processing and the safekeeping of assets.
Graham Ray, global head of product management, investor services at Deutsche Bank, said: “Efforts to make corporate actions processing more efficient are crucial for our customers. As the number and complexity of corporate action events increases, the quality of information is key in reducing risk and costs.”
Deutsche Bank added that modular products will becoming increasingly required to help customer meet regulatory and TARGET2-Securities requirements as the marketplace continues to develop. This new service is primarily designed to support client migration to the European Central Bank’s TARGET2-Securities platform ahead of the next migration wave in February 2017, which will see markets in Germany, Austria and Hungary join the platform.