Just Released - Push Notifications

Effective compliance programmes require clear processes and transparent record-keeping. We're upgrading push notifications in Caruso, enabling fund managers to target requests to investors as and when required.

Enhanced Control Over Compliance Workflows

Previously, all new investors would automatically receive verification requests such as identity checks or requests for wholesale certificates. While this automated approach worked for some, we recognised that fund managers often need more nuanced control over when and who needs to be verified as part of their compliance programme.

With our new push notifications feature, administrators can now:

• Send electronic requests at the most appropriate time: Rather than overwhelming new investors with immediate verification requests, fund managers can now strategically time these requests based on their compliance requirements, their investor relationship and ultimately if they decide to invest. This flexibility also allows fund managers to customise how ongoing due diligence is done.
• Set notification preferences: Different investors prefer different communication channels. Fund managers can now tailor their approach, sending requests via email and/or SMS. Regardless of the notification preferences, investors will always see the notification on their investor portal as well.
• Admin notifications: Fund managers will be notified when requests have been completed allowing their teams to review the results. For EIV, this includes reviewing the identity document and selfie taken. For wholesale certificates, this includes reviewing the document and either accepting or rejecting it if further information is required.
• Monitor outstanding requests via the accounts table and reports: Comprehensive reporting tools allow administrators to track all outstanding verification requests in one place, helping ensure nothing falls through the cracks.

Streamlined Identity Verification

The new identity verification workflow gives fund managers full flexibility to implement their compliance programmes. Administrators can now:

• Send targeted EIV requests to accounts or beneficial owners: Administrators can initiate verification requests for both primary account holders and beneficial owners through the same streamlined interface, ensuring consistency in the verification process.
• Self-service verification: Investors immediately receive the email, sms and investor portal notification. For EIV, this is a quick digital process where investors take a photo of their identity document and a selfie. The data is run against several verified databases to return a result to the fund manager.
• Track verification status through a clear 'Complete' or 'Incomplete' status: The system provides immediate visibility of verification status, making it easy to identify which investors need follow-up and which are verified.

Flexible Wholesale Certificate Collection

Fund managers can now efficiently request and collect wholesale certificates through:

• Targeted and Automated Requests: Requests are directed to key account holders authorised to provide wholesale certificates, with automatic notifications displayed in the investor portal to prompt action upon login.
• Seamless Digital Submission: Investors receive email notifications guiding them to upload and submit certificates digitally, reducing friction and ensuring a smooth process.

What's Next

This release lays the groundwork for future improvements, including:

• Generic document request: Fund managers will soon be able to request any document directly from the admin interface. This provides a secure and fully digital experience for engaging with investors.

To explore how these features could enhance your fund's compliance workflows, contact our team at [email protected] for a personalised demonstration.