Client Money Services
GCS can arrange to open client bank accounts which are completely segregated from existing company funds and other client funds. This ensures that all inbound and outbound transactions have a clear audit trail & are related specifically to that client only.
- Enable clients to open multiple bank accounts in accordance with FCA regulations.
- Segregated bank accounts with real time access to cleared funds.
- Dual bank accounts for subscriptions & cleared funds.
- Transaction tracking (inbound and outbound) and monitoring of accounts.
- Investor due diligence (AML) and Know your Customer Checks using the latest verification software.
- API’s available for integration into client systems.
As part of the GCEN group, GCS offers a variety of services to provide a simple, cost effective way to send international payments whether it be employee Payroll, redemption payments or one off payments in various currencies.
The online portal is designed to streamline the payment process and allows authorised users (with various levels of permission) to check, instruct and upload individual or multiple payments enabling you to submit Straight Through Processing (STP) payments with minimal intervention by GCS.
- Import bulk files for payments including investor redemptions. Generate repeat payments quickly and easily such as Employee payroll.
- Instruct one off payments in multiple currencies such as payment of commission to your distribution networks.
- Access payment records for accounting purposes.
- Download PDF payment confirmations to show proof of payment.
- Create multiple user profiles in the system to be able to view, instruct and sign off payments.
GCS offer a full range of payment types including (but not limited to) BACS, Faster Payments, CHAPS, SEPA and international priority.
GCS are able to utilise multiple payment platforms ensuring that costs are greatly reduced when compared to other top tier banks and payment service providers.
Whether you're transacting locally or internationally, our global collection platform allows you to transact worldwide seamlessly.
- GCS eradicate cross border related fees by providing local bank accounts and payment facilities to clients and their investors.
- Collect local payments in most currencies using local bank transfers, debit cards and other specific payment facilities.
- Streamlined collection processes using an integrated online portal allowing clients to centralise the management of accounts.
- Improved back office reconciliation process using GCS reporting tools.
Many funds have share classes and assets denominated in currencies other than a fund’s own base currency. Foreign currency hedging is the mitigation of risk associated to future movements in the exchange rate.
The bespoke hedging solution is tailored for each client and can easily be integrated to work alongside existing custodians, prime brokers and administrators to avoid any disruption to the fund’s current day-to-day procedures.
This provides a simple solution for foreign currency protection at both investor level and investment level:
Portfolio and Share Class Hedging
GCS offer a FX hedging solution for both portfolio and share class hedging. Through our sister company, GCEN Ltd, a leading global foreign exchange specialist, GCS is able to offer a more transparent, flexible and competitive pricing model. GCS will hedge the fund’s currency exposure to within any predetermined parameters set, actively managing the hedge performance.
Working to assist clients with their international investments in assets that are in a currency different to that of the investment’s base currency. By hedging the foreign currency exposure, it allows the investment manager to concentrate on their key core functions.
GCS run the hedge for each period whilst still enabling the client to have complete control on the hedge ratios and overall FX exposure.
Through our sister company, Global Currency Exchange Network Ltd, over $4bn of FX is transacted per annum which in turn enables GCS to offer clients the most competitive rates.
GCS have a global banking network with local banking relationships in 3 continents, meaning we can improve efficiency and payment times.
GCS also work with multiple liquidity providers to ensure we are always offering the broadest range of currencies and maintain exceptional execution throughout the process.
FX services gives your business the ability to:
- Receive preferential rates of exchange on all FX transactions (spot, forwards, swaps).
- Receive protection (hedging) for future dated supplier/client contracts, invoices or payments where there is a currency exchange and hence FX exposure.
- Offer investors protection (hedging) for investments where FX conversion to invest has taken place.
- Use and implement easy to understand hedging tools at the at competitive rates and with no fees.
Integrated solutions via API
In the current investment environment, seamless online integration is vital in order to communicate with investors effectively. GCS has developed APIs to allow easy integration into client platforms thereby removing the need for the development of costly in-house client payment systems.
The GCS API is used to configure your very own online bespoke payment solutions for receiving, accruing and releasing funds for all investment projects on your platform.
GCS operates two environments Sandbox (Test) and production (live).
- When you first set up your account with GCS you will receive a unique API key and log in credentials, these will give you access to the sandbox test environment giving you full access to the API capabilities and functionalities in order for you to test and ensure the system performs according to your needs.
- Then once you are ready to launch your live environment, GCS will push the service into production so it becomes operationally ready to use.