LONDON / AMSTERDAM, 21 February 2022: Vistra, a leading provider of expert advisory and administrative support to Fund, Corporate, Capital Market and Private Wealth clients, announced today a strategic partnership with Depowise to adopt their state-of-the-art depositary solution.
The new partnership allows Vistra to further transform and digitalise depositary business processes that will enhance efficiencies and benefit clients and their investors. Depowise will be rolled out across Vistra’s European Depositary operations in the UK and Luxembourg.
Stefano Haver, Director of Depositary, Vistra Netherlands said ” The adoption of Depowise has been extraordinary and is an important step in Vistra’s global digital transformation agenda. The critical success factors are about increasing the efficiency, reliability, and accuracy of our work whilst having a user-friendly tool. The strong collaboration between Vistra and Depowise and their client-centric approach have ensured a smooth adoption.”
Depowise maximises the digital content of process flows and drives automation in the following key areas:
• Smarter and efficient use of the data across different functions of the depositary, including cashflow monitoring, investment review, asset register, quarterly review – all these steps must be interconnected.
• Automation of processes such as cashflow monitoring, reconciliation, capital call and distribution – which are all volume intensive processes.
• Depositary is a regulated service and is critical we ensure reliability of the data through automated processes. Cash-flow data is imported into various business processes directly from the banking source via an interface with SWIFT and Depowise has further implemented test checks on accuracy and completeness of such data.
• Given Vistra’s focus on the alternatives sector, and general growth in this asset class, Depowise allows Vistra to effortlessly structure and visualize sophisticated investment structures.
• The intuitive system and intelligent dashboard ensures ease of adoption by all users.
• As a global business, Vistra can scale through Depowise’s ability to design and deliver the functions to cover the evolving needs across various jurisdictions.
Sven Peekmann, founder and CEO of Depowise added, “We are delighted to support Vistra’s business and work with them to optimise their depositary processes. Our integrated and scalable depositary solution supports the entire depositary workflows as they look to ensure consistency and streamline workflows across the enterprise. We are incredibly proud of this partnership, and we look forward to continuing working with Vistra’s highly collaborative and visionary team.”
At Vistra, we believe your business and your people can make a difference in the world. That’s why our work is focused on helping our clients act with confidence and speed to seize opportunity wherever it arises. As a global corporate service provider and fund administrator with more than 5,000 professionals in over 45 jurisdictions, we empower legal entities globally to work smarter, grow faster, act responsibly, protect capital and scale across borders — by doing what we do best: reducing risk and enhancing efficiency. Discover how we can help you and your business seize opportunity today by exploring our services at vistra.com.
Media Contact: Sylvia Evans, firstname.lastname@example.org
As a global investment operations and compliance solution, Depowise is uniquely positioned to solve some of the most sophisticated challenges customers face in the asset servicing and asset management industry. With ever-increasing regulatory pressure and tightening of margins, Depowise can enhance the company’s target operating model by reducing operational inefficiencies and optimizing costs. Discover how Depowise can help you at Depowise.com