Clarient reports that Mesirow Financial, an independent diversified financial services firm, has gone live on Clarient Entity Hub, a utility-based service designed to simplify client data and document management. Mesirow adopted Clarient Entity Hub to automate non-core, manual Know Your Customer (KYC) processes, while lowering operational burdens, further improving their client on-boarding processes and driving increased buy-side client satisfaction. The firm plans to leverage Clarient Entity Hub as their primary KYC and on-boarding solution across all U.S. branches and locations.
An industry-owned and governed utility, Clarient Entity Hub removes costs and risks associated with the bilateral exchange of client entity data and documentation between institutional investment managers, hedge funds, corporations, broker/dealers and custodian banks. Users are able to establish and manage their unique client relationships and associated entity data and documentation from a single, secure location, with functionality to identify, collect and validate integral content necessary to meeting global KYC requirements and quickly on-board new clients. The utility streamlines the client on-boarding process by sourcing and validating both public and private content, including data from DTCC’s Avox Data Services, enabling firms to begin trading sooner with no disturbance to the providing legal entity.
"By adopting Clarient Entity Hub, Mesirow will be able to take advantage of an industry-standard solution for client on-boarding and KYC,” stated Wendy L Brooks, Senior Managing Director at Mesirow Financial, Inc. “Ultimately, the solution will allow us to provide our buy-side clients with a better experience at a reduced cost.”
“We are excited to be working with Mesirow to help drive greater efficiency in their KYC and client on-boarding processes and provide a positive, highly secure experience for their clients,” stated Matthew Stauffer, CEO of Clarient Global LLC. “Financial institutions globally are increasingly looking to reduce the time required to begin trading, while ensuring all regulatory and compliance requirements are met. Clarient Entity Hub is quickly becoming the industry standard in this space, helping to fill critical gaps in client data and document management operations across segments and markets.”
In one year, the Clarient Entity Hub user community has grown to over 100 firms worldwide.