TrustQuay signs technology deal with Futu Trustee
TrustQuay, a technology provider to the corporate services, trust and alternative fund administration markets, has today announced the signing of an agreement with Futu Trustee Limited (“Futu Trustee”) to adopt TrustQuay software as its trust administration platform and client portal.
Headquartered in Hong Kong, Futu Trustee is a subsidiary of Futu Holdings Limited, a fintech company and Asia’s top-ranked online broker. Futu Trustee offers a diverse suite of trust set-up, trustee appointment and trust administration services to private and corporate clients.
TrustQuay NavOne software will provide Futu Trustee with an end-to-end, scalable, and secure front-to-back office trust management platform which will create new levels of transparency, accuracy and control with respect to reporting, data and information. With NavOne, workflow processes and compliance tasks can be automated, resulting in increased efficiencies, reduced costs and decreased regulatory risk.
Futu Trustee has also adopted TrustQuay Portal, which allows end-clients to have a unified view across all their structures, including personal and corporate entities and wealth trust assets, with access from any device, anywhere at any time. TrustQuay Portal will enable Futu Trustee to provide its clients with a fast, simple and fully automated onboarding experience, with a detailed audit trail to quickly and efficiently meet KYC (Know Your Customer) and AML (Anti-Money Laundering) obligations.
Ben Lin, CEO of Futu Trustee Limited, said: “As a subsidiary of a highly successful fintech company, it was natural for us to want to set up Futu Trustee as a fully digitalised business. We see a significant opportunity in the corporate services and trust administration market both in Hong Kong and worldwide. Partnering with TrustQuay provides us with a world-class software platform for future growth and enables us to differentiate ourselves by offering the best possible digital proposition to clients.”
Keith Hale, Executive Chairman of TrustQuay, adds: “We are delighted to partner with Futu Trustee and look forward to collaborating closely to support their growth ambitions. New challengers, such as Futu Trustee, who fully embrace digitalisation are consequently well placed to create a clearly differentiated proposition and win market share in the corporate services and trust market.”