Customer Profile:
A bank-led financial services group, headquartered in Lagos, Nigeria, with operating companies divided along three business groups-Commercial and Retail Banking. The organisation is well-known for its professionalism, the company play a major role in Corporate, Public and Private Trust transactions, as well as Wealth Management services.
The Results:
By engaging productively with the customer, Wragby was able to deliver end-to-end automation of the Custody process which facilitated the settlement of financial instruments promptly, drove administrative efficiencies and provided a single view for management key decision-making ability.

Challenges:
The Custody Market has experienced a major shift over the last few years with numerous increased regulations and requirements. Some of the major challenges experienced include:

The outcome of our proactive engagement with Seplat Energy:

  • Complexity in Systems Usability
  • The inability of the System to handle new use cases such as Euro Bond settlement
  • Expensive subscriptions for the solution paid for in the foreign currency
  • Pricing pressure which requires technological innovation
  • Consumes huge computing resources which slows down transactional processes while settling trade positions.

    • The customer like others had complex legacy systems that could not handle new market regulations and policies and thus desired a robust, flexible and modern system which is powered by fresh and advanced innovative technology which would help meet its Business Objectives and Goals
    Solution:
    Wragby deployed wc1000, an integrated and scalable asset custodian solution that handles all aspects of custody management with rich analytics which is designed to cover all the needs of the Custodian Services market. It covers the full spectrum of operations related to Transactions, Clearing and Safekeeping. It also consists of several modules that are tailored to provide the custodian with unique features and functions specific to an area of custody operations. The fully automated global Custody Solution which is hosted on Azure stack leverages advanced Microsoft API technology that enhances seamless securities transactions and communication. It is an efficient system which centralizes all workflows into a single portal and allows seamless integration with internal and external third-party applications.

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