Citi and Sharegain launch unique automated SBL solution for wealth managers
24 March 2021 UK
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Citi and Sharegain are partnering to launch a "first-of-its-kind" fully-automated securities lending solution for the bank's wealth management custody clients.
Sharegain鈥檚 platform aims to offer private banks, asset managers and online brokers access to the securities lending market in a way previously exclusive to the largest institutional investors.
The new bespoke solution with Citi is designed to integrate with wealth managers鈥� existing IT infrastructure and provide a fully-digital user experience for underlying customers, from opting into the programme through to managing their lending, the partners explain in a statement.
The platform is fully developed and several clients are currently being onboarded.
The idea for an automated securities lending solution was born from Citi鈥檚 D10X programme, a strategic growth initiative that nurtures the development of business solutions.
A team of Citi entrepreneurs-in-residence tested, validated, and prototyped the product before vetting and selecting Sharegain.
The partnership also is part of a wider focus by Citi on developing its custody services, with a focus on expanding its securities lending product.
鈥淚t's our ambition to provide Citi custody clients with the world鈥檚 leading agency securities lending service,鈥� says Stuart Jarvis, Citi鈥檚 head of agency securities lending for Europe, the Middle East and Africa. 鈥淪ecurities lending is a well-established practise among institutional investors, but one that most private investors have been unable to benefit from. That鈥檚 why our clients are demanding a tailored, automated securities lending service they can offer to their end customers.鈥�
Citi Agency Securities Lending has trading desks in five countries covering 75 lending markets and leverages local expertise from more than 60 proprietary custody branches.
Boaz Yaari, CEO and founder of Sharegain, adds: 鈥淲e are excited to work with Citi to bring this first-of-its-kind solution to their clients and to set a new standard for our industry.鈥�
鈥淭his collaboration is a testament to the power of Sharegain鈥檚 solution and its potential to democratise securities lending.鈥�
Sharegain鈥檚 platform aims to offer private banks, asset managers and online brokers access to the securities lending market in a way previously exclusive to the largest institutional investors.
The new bespoke solution with Citi is designed to integrate with wealth managers鈥� existing IT infrastructure and provide a fully-digital user experience for underlying customers, from opting into the programme through to managing their lending, the partners explain in a statement.
The platform is fully developed and several clients are currently being onboarded.
The idea for an automated securities lending solution was born from Citi鈥檚 D10X programme, a strategic growth initiative that nurtures the development of business solutions.
A team of Citi entrepreneurs-in-residence tested, validated, and prototyped the product before vetting and selecting Sharegain.
The partnership also is part of a wider focus by Citi on developing its custody services, with a focus on expanding its securities lending product.
鈥淚t's our ambition to provide Citi custody clients with the world鈥檚 leading agency securities lending service,鈥� says Stuart Jarvis, Citi鈥檚 head of agency securities lending for Europe, the Middle East and Africa. 鈥淪ecurities lending is a well-established practise among institutional investors, but one that most private investors have been unable to benefit from. That鈥檚 why our clients are demanding a tailored, automated securities lending service they can offer to their end customers.鈥�
Citi Agency Securities Lending has trading desks in five countries covering 75 lending markets and leverages local expertise from more than 60 proprietary custody branches.
Boaz Yaari, CEO and founder of Sharegain, adds: 鈥淲e are excited to work with Citi to bring this first-of-its-kind solution to their clients and to set a new standard for our industry.鈥�
鈥淭his collaboration is a testament to the power of Sharegain鈥檚 solution and its potential to democratise securities lending.鈥�
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