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BBH’s Account Opening API Embraced by European Fund Platforms as Euroclear Adopts the Solution
Brown Brothers Harriman (BBH), a leading asset servicing provider for financial institutions and asset managers, is proud to announce the successful adoption of BBH’s account opening API by Euroclear, the Brussels-based international central securities depository (ICSD). APIs are application programming interfaces that allow different applications to communicate with each other.
Account opening requests and confirmations can now be sent electronically between BBH and Euroclear using the API, resulting in faster account opening times and a more scalable process for the platform. This reduces the time it takes to get money flowing into funds, giving the end investor faster speed-to-market, and an enhanced onboarding experience.
“We are creating a new standard for investor account opening in an environment which has historically been manual” said Manuel Dienhart, BBH Transfer Agency Product Executive and Global Head of TA. “API account opening is a win-win for all parties and is changing the industry. We are delighted to see such rapid adoption of our solution.”
“This new connectivity with BBH enhances the investor experience by accelerating the account opening process,” said Vincent Clause, Global Head of FundsPlace Strategy and Product Development at Euroclear. “This development is part of our ongoing commitment to improve efficiencies for our clients by leveraging leading edge technology. After having successfully launched API solutions for orders placement, we are pleased that FundsPlace can take the next step with this API account opening with BBH.”
The API is one of many investments made by BBH to enhance the investor and distributor servicing experience and BBH’s technology experts are known for their ability to help their clients remove friction from their processes by enabling data connectivity between internal and third-party systems.
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