MUFG Union Bank Introduces New Online Platform for IPA Processing

MUFG Union Bank Introduces New Online Platform for IPA Processing
23.03.2016 06:45 am

MUFG Union Bank Introduces New Online Platform for IPA Processing

Security and Compliance , Transaction Banking

MUFG Union Bank (the Bank) has launched IPA Port, a new online platform that offers fully integrated issuing and paying agent services (IPA) for issuers of USD commercial paper and certificates of deposit. This easy to navigate platform delivers seamless processing for issuance, interest, and maturity payment activities using real-time data and transaction monitoring and reporting through a single online source.

IPA Port is supported by the Bank’s knowledgeable, dedicated client service and IPA development team, whose average of nearly 20 years industry experience positions them well to serve the program needs and requirements of commercial paper and certificates of deposit issuers. The team is headed by two industry veterans: Chris Buechner and Richard Benjamin. Mr. Buechner has more than 20 years of experience in the IPA marketplace and has served some of the largest issuers in the industry; Mr. Benjamin brings a strong background in IPA services with more than 12 years working with issuers of all sizes and types.

With IPA Port, the Bank’s clients can issue and manage their USD commercial paper and certificates of deposit programs using straight through processing from the receipt of the issuance through settlement with the Depository Trust Company (DTC). As a direct participant of the DTC, the central securities depository of the Depository Trust & Clearing Corporation (DTCC), MUFG Union Bank offers the following services:

Links to all major dealers in the U.S. using the Pre-Issuance Messaging (PIM) network;

High-performance standard and custom reporting functionality;

Activity reports available in multiple formats: HTML, PDF, and DAT;

High-level encryption that protects customer transactions behind three layers of security;

Complete system administration and audit trails; and

Controlled access to any function or program based on a specific user.

“This new IPA online platform and complete service offering are especially appealing to large corporations, financial institutions, public finance organizations, and government entities that issue USD commercial paper and CDs,” said Marianne Bamonte, Global Trust Services Division Manager, MUFG Union Bank. “Our client service and IPA development team, led by Chris and Richard, are excited to provide an IPA product and operations that are streamlined from start to finish with 24/7 access to account information. Our dedicated team is focused on delivering continuous client experience excellence and technical enhancements to remain best in class.”*

 

Related News

ICA to Host the BIGGEST Online Event for Compliance Professionals in 2020

The International Compliance Association (ICA), the leading professional body for the global regulatory and financial crime compliance community, is organising ‘The BIG... Read more »

UK prof body partners Philippines in efforts to help eradicate money laundering & terrorism financing

The Chartered Institute for Securities & Investment (CISI) has announced a key project in the Philippines to support the country’s compliance with anti-... Read more »

Wolters Kluwer Continues PPP Educational Series With Loan Forgiveness Webinar

Wolters Kluwer Compliance Solutions is continuing to prove its industry leadership,... Read more »

Verizon Report Shows Money Still Makes the Cyber-crime World Go Round

The Verizon Business 2020 Data Breach Investigations Report (2020 DBIR) shows that financial gain remains the key driver... Read more »

Wolters Kluwer develops TSoftPlus Technology for loan forgiveness stage of U.S. Paycheck Protection Program

Wolters Kluwer Compliance Solutions is set to help local lenders and their small... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel