Best for electronic custody services: Brown Brothers Harriman
Highly commended: State Street, RBC Global Services and JPMorgan Investor Services
All of the custody sites that entered this year’s technology awards offer comprehensive reporting and information on corporate actions. In fact, the standard of entries was so high that, in addition to a winner, Euromoney decided to award highly commended to three of the six platforms that entered.
Those banks that have been awarded highly commended offer the full range of services, are highly customizable and offer extra features such as alerts for corporate action notifications. They also enable clients to respond to corporate actions online.
Brown Brothers Harriman has all of this on its WorldView platform. The site’s main features include reporting and instruction products, trading in BBH's mutual funds and in forex, research and risk tools, and news and product information.
In addition, BBH began rolling out its outstanding Infomediary service to customers last year. This acts as a single connection between a fund manager’s internal systems and external service providers, such as custodians. In short, Infomediary takes in the data from one party and translates it into a format that can be read by the other party.
The advantage of this solution, especially for smaller fund managers, is that they do not need to commit time, money and resources to keeping up to date with the latest communication standards.